Vitrafy Life Sciences (VFY) AGM 2025 summary

Opening remarks and agenda

• Outgoing Chair and board members expressed gratitude to staff, shareholders, and partners, highlighting the transition in leadership and the company's strategic direction, including CEO and board renewal.

• FY2025 was marked as a period of growth, ASX listing, and organizational transition.

• The agenda included Chair and CEO presentations, incoming Chair remarks, Q&A, voting, and a demonstration of the new cryopreservation device.

Financial performance review

• FY2025 marked the first year as an ASX-listed company, with an IPO valuation of AUD 127.5 million.

• Despite a material loss, cash reserves stood at AUD 29.6 million as of June 30, 2025, with quarterly cash costs of AUD 4.2 million.

• Additional grant receipts of AUD 2.4 million are expected over the next 12 months.

• Sources and uses at IPO totaled $41.4m as of 30 June 2024, with $10.9m for market development, $14.3m for technology development, and $12.8m for operational capacity.

• Financial statements, directors' report, and auditor's report for the year ended 30 June 2025 were presented, with the CFO and external auditor available for queries.

Board and executive committee updates

• Sonia Petering (Chair) and John McBain (Non-Executive Director) retired at the conclusion of the AGM.

• Dr. Leigh Farrell was welcomed as the incoming Chair to guide the next phase of growth.

• Recruitment is underway for a new non-executive director with commercialization and U.S. experience.

• Board reshaped to reflect best practices for early-stage listed companies.

• Board renewal and CEO transition were key organizational changes during the year.