BRAIN Biotech AG Announces Successful Annual General Meeting Outcomes for FY 2022/23

BRAIN Biotech AG disclosed the positive results of its 2024 Annual General Meeting (AGM) held at its Zwingenberg location, confirming the approval of all proposed agenda items by a decisive majority. During this event, the establishment of silent partnerships with Hessen Kapital I GmbH and MBG H Mittelständische Beteiligungsgesellschaft Hessen mbH was notably endorsed by over 99% of votes, aiming to finance innovative research projects in Hesse.

CEO Adriaan Moelker expressed optimism regarding the company’s future, envisioning robust economic growth facilitated by the existing foundation of architecture, employees, technology, customers, and products, while targeting ambitious goals including double-digit sales increase and positive operating cash flow within a five-year timeline. The preliminary quarterly figures for the 2023/24 FY further highlight a projected turnover boost to EUR 58 to 62 million.

Dr. Michael Majerus, Chairman of the Supervisory Board, expressed satisfaction over conducting the AGM in person and highlighted the financial achievements of the 2022/23 FY, marking the best revenue and adjusted EBITDA results since the company’s initial public offering. The Supervisory Board stands in support of the Management Board’s strategic measures to tap into the Group's potential for further revenue and earnings growth, aligning with the company's mid-term objectives.

Complete details of the voting outcomes and related documents are made accessible on the BRAIN Biotech official website, ensuring transparency and straightforward communication with the company's shareholders and the public.