Verseon Corporation ("Verseon" or the "Company"): Result of AGM and Changes to the Board

News provided by

Nov 06, 2018, 10:40 ET

FREMONT, California, November 6, 2018 /PRNewswire/ --

Verseon Corporation (AIM: VSN), a technology-based pharmaceutical company, announces that all resolutions put to shareholders were duly passed during the Annual General Meeting ("AGM") held on November 5, 2018 at 14:00 PDT. During the AGM, the Company also announced to shareholders that Xavier Rolet and Sangtae Kim are joining the Board as non-executive directors of Verseon, subject to the completion of normal and customary regulatory diligence.

The Company reports that Robert Karr and Grover Wickersham have stepped down from the Board. "We want to thank Robert and Grover for their valuable service and contributions in overseeing the growth of Verseon," said Thomas Hecht, Chairman of the Board of Directors.

Xavier Rolet has broad leadership experience in the global financial community. Most recently, he was the CEO of the London Stock Exchange Group (LSEG) from May 2009 to December 2017, during which time the market capitalization of LSEG rose from £800 million to £14 billion. Prior to LSEG, Xavier held leadership roles in New York, London, and Paris offices for Lehman Brothers, and held senior positions at global investment banks Kleinwort Benson, Credit Suisse and Goldman Sachs. Xavier was a member of the Business Advisory Group of former British Prime Minister David Cameron, the Financial Services Forum of the Governor of the Bank of England, and the Bank of England's Open Forum. He holds the ranks of Honorary Knight Commander of the Most Excellent Order of the British Empire (KBE).

Sangtae Kim has a distinguished career in chemical engineering with senior roles in both industry and academia. He is a former VP of Lilly Research Laboratories, a division of Eli Lilly, and a former VP at Parke-Davis Pharmaceutical Research. Sangtae is the founding Director of the National Science Foundation Division of Shared Cyberinfrastructure and a former Executive Director of the Morgridge Institute for Research. He is a Distinguished Professor of Chemical Engineering at Purdue University and a former faculty member at the University of Wisconsin-Madison. Sangtae is a member of the National Academy of Engineering and a Trustee of the AlChE (American Institute of Chemical Engineers) Foundation. His honors and awards include the 2013 Ho-Am Prize in Engineering, AICHE's George Lappin Award (2008) and Colburn Award (1993), and the 1992 Award for Initiatives in Research from the National Academy of Sciences.

"We look forward to working with Xavier and Sangtae," commented Adityo Prakash, Verseon CEO. "Sangtae is a pioneer in the pharmaceutical industry, and his vision will be an invaluable as we grow our drug development pipeline. Xavier's extensive experience in the global finance industry will greatly benefit our board and our management team as we introduce our novel blockchain technology for tokenized securities to the financial world."

About Verseon

Verseon Corporation (http://www.verseon.com , AIM: VSN) is developing disruptive life-science technology to advance global health. The clinical-phase Company is using its proprietary, computational drug discovery platform paired with a comprehensive in-house chemistry and biology workflow to build a growing drug development pipeline. Through its wholly owned subsidiary BlockRules Ltd., Verseon is also pioneering blockchain technology for regulated securities.

Forward-Looking Statements
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook," and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions, and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors.