CAMBRIDGE, Mass. -- Aegerion Pharmaceuticals, Inc. (Nasdaq:AEGR), a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases, today announced it has reached an agreement with Sarissa Capital Management LP.
Under the terms of the agreement, the Company is appointing a new independent director to its Board of Directors identified by Sarissa and agreed upon by the Company. With such addition, the Board will increase from seven to eight directors, seven of whom are independent. Sarissa will also have the option to appoint an additional director beginning in January 2016. As part of the agreement, Sarissa has agreed to certain standstill provisions, and has agreed to vote in favor of all nominees recommended by the Board at the 2015 Annual Meeting of Stockholders.
Marc Beer, Chief Executive Officer of Aegerion said, "This agreement is a good outcome for the Company and our stockholders. Aegerion has entered 2015 with good momentum in our business and we remain optimistic about our growth potential. We are keenly focused on growing revenues, investing in geographic expansion and managing expenses, while continuing to explore opportunities for further clinical development of JUXTAPID® and MYALEPT®."
Alexander J. Denner, founder of Sarissa Capital Management, added, "We are pleased to have reached this agreement with Aegerion, and we look forward to continuing our constructive relationship with the company."
About Aegerion Pharmaceuticals
Aegerion Pharmaceuticals is a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases. For more information about the company, please visit www.aegerion.com.
CONTACT: Aegerion Pharmaceuticals, Inc. Amanda Murphy Associate Director, Investor Relations (857) 242-5024