On Tuesday, Pharnext announced its intention to convene a shareholders' meeting next month to establish the legal and financial framework for its partnership with Néovacs.

The biopharmaceutical company plans to hold a combined ordinary and extraordinary shareholders' meeting on February 24 at Néovacs' headquarters.

Shareholders will be asked to vote on a new legal structure, with the transformation of the company from a société anonyme into a société en commandite par action (S.C.A.).

In terms of governance, Néovacs (represented by Hugo Brugière, CEO of Néovacs and current CEO of Pharnext) would become Chairman of Pharnext Développement, which would in turn become managing director of Pharnext.

The Supervisory Board of Pharnext, incorporated as an S.C.A., would be made up of the current members of the Board of Directors: Joshua Schafer, Lawrence Steinman and James Kuo.

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