Zelluna ASA [ZLNA]: Notice of Annual General Meeting on April 29, 2025

Zelluna ASA, a pioneering biotechnology company specializing in allogeneic ‘off the shelf’ T Cell Receptor based Natural Killer (TCR-NK) cells for cancer treatment, has announced the date for its Annual General Meeting (AGM) on April 29, 2025. This meeting, to be held electronically, marks a significant milestone for the company as it continues to advance its innovative cell therapy platform.

The AGM will provide shareholders with an opportunity to review the company's performance over the past year, as detailed in the recently approved Annual Report for 2024. The report, available in both PDF and European Single Electronic Format (ESEF), highlights Zelluna's strategic initiatives and financial health. The company's website, www.zelluna.com, offers comprehensive access to all relevant documents and information regarding the AGM.



One of the key strategic initiatives that Zelluna ASA has implemented is the successful completion of a Business Combination and Private Placement. This transaction, finalized on March 3, 2025, involved the issuance of Consideration Shares and Private Placement Shares, increasing the company's share capital to NOK 20,227,065.30, divided into 202,270,653 shares. This move not only provided Zelluna with the necessary financial flexibility but also enhanced its visibility and market position. The name change from Ultimovacs ASA to Zelluna ASA, along with the change in ticker code from “ULTI” to “ZLNA” on Euronext Oslo Børs, further solidified the company's rebranding and strategic direction.

The management team, led by Namir Hassan, CEO, and supported by key executives such as Hans Vassgård Eid, CFO, and Anders Tuv, Chairman of the Board of Directors, is committed to driving the company's growth and innovation. The team's deep experience in discovery through to clinical development of TCR, cell-based, and immunotherapy products, including marketed products, positions Zelluna ASA as a leader in the biotechnology sector.

Zelluna ASA's focus on allogeneic 'off the shelf' T Cell Receptor based Natural Killer (TCR-NK) cells for cancer treatment positions it uniquely within the competitive landscape of cancer immunotherapy. This approach leverages the curative potential of cell therapies, which have shown success in treating late-stage cancer patients, particularly in liquid cancers. However, Zelluna aims to address two key challenges in the field: the treatment of solid cancers and the scaling and global access to treatment.

Solid cancers, which represent the largest cancer burden worldwide (e.g., lung, ovarian, breast, and head & neck cancers), have proven tougher to treat with current cell therapies. Zelluna's TCR-NK platform merges clinically validated components—TCR targeting with NK cells—to form a novel therapeutic approach. This platform is protected by strong intellectual property, opening up the potential for an unprecedented opportunity to capture the market of an entire therapeutic field. The lead asset nearing the clinic is a world’s first MAGE-A4 targeting TCR-NK, which can potentially be used to treat a range of solid cancers with unmet medical need in high-value cancer markets.

The potential risks associated with this approach include the challenges of scaling and global access to treatment, which are highly limited with current therapies. Additionally, the regulatory and clinical development processes for new cell therapies can be complex and time-consuming. However, the opportunities are significant. Zelluna's platform offers a unique mechanism of action with broad cancer detection capability, which can overcome the diversity of tumors. The "off the shelf" nature of the TCR-NK platform addresses scaling limitations, making it possible to treat patients on a global scale in a safe and cost-efficient manner.

The management team of Zelluna ASA includes serial biotech entrepreneurs with deep experience in discovery through to clinical development of TCR, cell-based, and immunotherapy products, including marketed products. This expertise positions Zelluna well to navigate the challenges and capitalize on the opportunities in the competitive landscape of cancer immunotherapy.

In conclusion, Zelluna ASA's upcoming Annual General Meeting on April 29, 2025, is a pivotal event for the company and its shareholders. The meeting will provide a platform for the company to communicate its strategic initiatives and future plans, further solidifying its position as a leader in the biotechnology sector. With a focus on innovative cell therapy platforms and a commitment to driving growth and innovation, Zelluna ASA is well-positioned to enhance shareholder value and make a significant impact in the treatment of cancer.