OSE Immunotherapeutics Announces Results of 2017 Annual Meeting of Shareholders

Regulatory News:

OSE Immunotherapeutics SA (Paris:OSE) (ISIN: FR0012127173; Mnémo: OSE) announces that all the resolutions submitted to a vote at the Combined General Shareholders' Meeting were approved as proposed by OSE Immunotherapeutics’ Board of Directors. Shareholders approved the nominations of two new independent Directors, Brigitte Dréno, M.D., Ph.D., and Diane Kathryn Jorkasky, M.D., and have renewed the board terms of Jean-Patrick Demonsang, Walter Flamenbaum and Gérard Tobelem.

The results of each resolution voted can be found on the Company’s website in the "Investor Relations – Annual General Meeting” section (http://ose-immuno.com/documentation/assemblee-generale/).

A total of 68 shareholders were present or represented, or voted by mail. Collectively, this group holds 8,533,195 shares (representing 59.50 % of the voting securities) and 9,110,375 voting rights.

Shareholders approved the appointment of two new independent Directors

Brigitte Dréno, M.D., Ph.D., is head of the Department of Dermatology at the Nantes University Hospital, a department with significant expertise in research and innovative treatments in skin oncology. She is the director of the Biotherapy Clinical Investigation Centre, director of the Unit of Cell and Gene Therapy and vice dean for Research Medical Faculty. Within her operational functions and research responsibilities, Dr. Dréno is very much involved in immuno-oncology innovation. In collaboration with the academic leadership, she supports the implementation of OSE Immunotherapeutics’ R&D initiatives on the Nantes’ University campus.

Diane Kathryn Jorkasky, M.D., has over 20 years of pharmaceutical and biotechnology experience in medical and scientific leadership positions with industry-leading companies, including Endo Pharmaceuticals, Pfizer and GSK. She has extensive knowledge of and experience in all phases of drug research and development. Since 2012, Dr. Jorkasky has been executive vice president, chief medical officer, and head of development of Complexa Therapeutics, a biotechnology company specializing in treatments for inflammatory and fibrosis related diseases.

These nominations follow the departures of David de Weese and Jean Théron who have completed their respective terms as board members. They will both pursue their collaboration with OSE Immunotherapeutics: David de Weese as censor of the board for one year and Jean Théron as a consultant and international business contributor.

Emile Loria, chairman of the board of directors of OSE Immunotherapeutics said: "On behalf of the Board and OSE’s team, I wish to warmly thank David and Jean for their expertise, their commitment and their achievements throughout their director terms. They will pursue their collaboration in performing new missions and sharing with us their valuable network.”

Dominique Costantini, CEO of OSE Immunotherapeutics, added: "We are delighted to welcome Brigitte Dréno and Diane Kathryn Jorkasky who bring strong track record in scientific innovation and international scope to enrich the board’s expertise and support the company’s growth.”

Renewal of Board appointments

The Ordinary General Meeting renewed the board terms of Jean-Patrick Demonsang, Walter Flamenbaum and Gérard Tobelem.

OSE Immunotherapeutics’ board of directors is composed of twelve members, including seven independent directors.

Votes on the following resolutions were also held during OSE Immunotherapeutics’ General Meeting:

• Approval of the accounts and consolidated accounts for fiscal year 2016, allocation of the results, approval of the principles and criteria for determining, distributing and allocating the fixed, variable and exceptional components of the total compensation and of the benefits of any kind attributed to the executive directors, approval of regulated agreements (resolutions 1 to 5);
• Mandatory opinion on the items of compensation of the chairman, of the chief executive officer and of the deputy chief executive officers in respect of fiscal year 2016 (resolutions 6 to 9);
• Renewal of delegations of authority given to the board of directors to issue shares and/or securities giving access immediately or later to the share capital or giving right to a debt security (resolutions 19 to 22, 24, 26, 27);
• Delegations of authority given to the board of directors to award preferential free shares, free shares, founders’ warrants, warrants and stock options (resolutions 30 to 34).

ABOUT OSE IMMUNOTHERAPEUTICS
Our ambition is to become a world leader in activation and regulation immunotherapies
OSE Immunotherapeutics is a biotechnology company focused on the development of innovative immunotherapies for immune activation and regulation in the fields of immuno-oncology, auto-immune diseases and transplantation.
The company has a balanced portfolio of first-in-class products with a diversified risk profile ranging from clinical phase 3 registration trials to R&D:

In immuno-oncology:

• Tedopi®, a combination of 10 optimized neo-epitopes to induce specific T activation in immuno-oncology - Currently in registration Phase 3 trial advanced NSCLC HLA A2+ patients EU /US - Orphan Status in the US - Registration expected in 2019 - A Phase 2 with Tedopi® in combination with a checkpoint inhibitor in NSCLC is considered in 2017.
• OSE-172 (Effi-DEM), new generation checkpoint inhibitor targeting the SIRP-a receptor - In preclinical development for several cancer models.
• OSE-703 (Effi-3), a cytotoxic monoclonal antibody targeting IL-7R - Strategic research collaboration with Memorial Sloan Kettering Cancer Center, NY

In auto-immune diseases and transplantation:

• FR104, CD28-antagonist in immunotherapy - Phase 1 trial completed – For the treatment of autoimmune diseases and for use with transplantation - Licensed to Janssen Biotech Inc. to pursue clinical development.
• OSE-127 (Effi-7), interleukin receptor-7 antagonist - In preclinical development for inflammatory bowel diseases and other autoimmune diseases. License option agreement with Servier for the development and commercialization.

The portfolio’s blockbuster potential gives OSE Immunotherapeutics the ability to enter global agreements at different stages of development with major pharmaceutical players.

Immunotherapy is a highly promising and growing market. By 2023 Immunotherapy of cancer could represent nearly 60% of treatments against less than 3% at present * and the projected market is estimated at $67 billion in 2018 **.

There are more than 80 autoimmune diseases that represent a significant market including major players in the pharmaceutical industry with sales towards $10 billion for the main products. The medical need is largely unmet and requires the provision of new innovative products involved in the regulation of the immune system.

*Citi Research Equity
**BCC Research

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Forward-looking statements
This press release contains express or implied information and statements that might be deemed forward-looking information and statements in respect of OSE Immunotherapeutics. They do not constitute historical facts. These information and statements include financial projections that are based upon certain assumptions and assessments made by OSE Immunotherapeutics’ management in light of its experience and its perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate.
These forward-looking statements include statements typically using conditional and containing verbs such as "expect”, "anticipate”, "believe”, "target”, "plan”, or "estimate”, their declensions and conjugations and words of similar import.
Although the OSE Immunotherapeutics management believes that the forward-looking statements and information are reasonable, the OSE Immunotherapeutics’ shareholders and other investors are cautioned that the completion of such expectations is by nature subject to various risks, known or not, and uncertainties which are difficult to predict and generally beyond the control of OSE Immunotherapeutics. These risks could cause actual results and developments to differ materially from those expressed in or implied or projected by the forward-looking statements. These risks include those discussed or identified in the public filings made by OSE Immunotherapeutics with the AMF. Such forward-looking statements are not guarantees of future performance.
This press release includes only summary information and should be read with the OSE Immunotherapeutics Reference Document filed with the AMF on 28 April 2017 under the number R.17-038, including the annual financial report for the fiscal year 2016, available on the OSE Immunotherapeutics’ website.
Other than as required by applicable law, OSE Immunotherapeutics issues this press release at the date hereof and does not undertake any obligation to update or revise the forward-looking information or statements.

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