At MYCB1, integrity is at the core of how we act and make decisions. This Code walks you through the values and principles that guide us to conduct business the right way, every day. It also serves as a tool for our stakeholders to make us accountable for making ethical choices.
The Code applies to all of us—no matter of our role, no matter where we work. This includes all employees of MYCB1, members of senior management, the board of directors and supervisory board. The Code also helps us choose business partners (external companies and individuals) that follow similar principles.
It is important to follow the Code in all our business dealings. It is an expectation of how to do our job.
Violating these guidelines can result in disciplinary actions. Ask questions if you need guidance. If you see or learn about misconduct, let us know.
Our values act as the foundation for our business principles, which constitutes as building blocks for the strategic direction of our company.
The Business Principles of our Company can also be defined as Common Good Principles. Furthermore, we use the methodology of the Economy for the Common Good Association (“ECG”) to define how our activities should contribute to the common good. Hence, we consider ourselves an ECG-driven company.
We have defined a two-stage process for implementation suited to the company’s development stage
This is the current stage. In this stage the Business Principles serve as a guideline to minimize the impact of our company’s activities on each of our takeholders: Suppliers, Financial Service Providers, Shareholders, Employees, Customers and Social Environment.
In a second stage we will conduct an evaluation to show the impact of our activities on each of our stakeholders. As part of this process we will use the common Good Matrix and Common Good Balance Sheet as introduced by the ECG along with the point Common Good Points system. For more information we refer to: https://www.ecogood.org/en/our-work/common-good-balance-sheet
The Code does not detail every single guideline we must follow, instead it lays the framework for how we must conduct business in critical areas. This Code offers internal guidelines to our day-to-day jobs as well as at a higher level in terms of the strategic direction of our activities. As well it helps us to be transparent vis-à-vis our stakeholders on how we conduct business.
For us, human dignity means that every human being is valuable, unique and worthy of protection irrespective of origin, age and gender. Human dignity is inviolable and independent of the value of human labor.
As part of our procurement policy we prioritize suppliers that count on a procurement responsibility policy that aligns with our Business Principles. In absence of such a policy we will pre-agree on minimum standards to ensure fair working conditions and the price paid for the purchased goods.
Having said this, it should be noted that there are not fair-trade suppliers in the pharmaceutical industry.
Note that the Dutch and German Governments are our main supplier as the only key raw material supplier for our products. Regarding our equipment, mostly is provided by quality suppliers.
As an ECG-driven Company we see important to minimize the levels of debt while maximizing funding from equity providers that share commitment to our or similar values. This high equity ratio principle is especially relevant during the early growth stages of the Company in which relatively large volumes need to be invested. As we grow out the early stage, we will continue to maintain a prudent debt to equity ratio.
In our choice for external financial providers our aim is to engage with responsible like-minded financiers that share similar values and prioritize long-term relationships versus short-term financial returns.
Our employees are our most important asset. We believe that a working environment that encourages employee self-management, autonomy and personal & professional development contribute to a happy, healthy and satisfied workforce.
We pay equal importance to a healthy and safe workplace, as detailed in our Policies and Quality Systems for GMP, ISO 27001, ISO 17025.
Finally, we bolster in a diversified workforce, and we see differences in terms of gender, age, ethnicity and cultural background as a value-add to our company. We are proud of our diverse team and will continue to foster diversity in our recruitment processes.
We believe that honest and transparent marketing only helps us reach our goal: customers’ wellbeing and health. We see customers relationships as another of our key assets where their feedback represents a key input into our product-development, which should allow us to become a better Company each time.
We strive for inclusive quality health and wellbeing for all. Therefore, we will continue to prioritize barrier-free accessibility of our products as key features of our value proposition. In this regard, special attention will continue to be provided to disadvantaged customer groups and their needs, which could include more accessible prices and/or customer care.
With our products we contribute to SDG 3- Good Health and Well being and this will continue to be our main mission.
We believe in inclusivity in equality at all levels of society, promoting the reduction of unfairness and sharing responsibilities.
Solidarity and social justice in the supply chain We strive for long-term, fair and just collaborative relationships with our suppliers. Also, we continuously engage with both our direct and indirect suppliers in order to ensure that ECG or similar values are applied with their own respective suppliers. The result should be that the full supply value chain (both direct and indirectly) in which we operate behaves according to fair and just business practices in terms of pricing, terms of payment and delivery.
MYCB1 is and will continue to be exclusively invested by impact investors. As and ECG-driven
Company we strongly believe in the value of investors that do not prioritize short-term financial return
over the long-term sustainability of our company, as well as the quality of existing relationships with all
A transparent remuneration scheme according to performance and responsibility contributes positively on the culture of companies.
Our remuneration policy to employees is to pay them a ‘living wage’ according to the local cost of living. Besides, the ratio between the highest and lowest paid within the organization stands at a maximum of 1:8. This ratio can be adapted according to the company’s needs.
We aim at accommodating employees working week according to own needs. This in our view contributes to the sense of employees’ belongness, responsibility and commitment to the company. We believe that healthy work-life balance contributes to happy and healthy employees so we will continue to encourage our employees to take their annual leaves, maintain flexible self-determined working weeks, encourage staff to regularly take ‘me-time’.
Our final goal is not to be the best Company in the health care sector but rather maximize health & wellbeing to patients. Therefore, if this means that through ooperative alliances and partnerships with other companies or competitors this goal will be better attained, then we will evaluate it as part of our strategy.
Next to taxes and statutory contributions we believe that our long-term sustainability will be a function of our direct contribution to the community in which we operate. In a second stage we intend to actively engage in voluntary contribution programs with the aim to support our stakeholders.
Our products should neither create pollution nor contribute to depletion of natural resources.
Environmental sustainability in the supply chain Although there are very limited guidelines for sustainable procurement management in the pharmaceutical industry, we will prioritize suppliers that count on a policy that aligns with our Business Principles. In absence of such a policy we will pre-agree minimum standards to ensure minimum environmentally responsible standards for purchased materials and equipment are met.
The Company does not undertake investments as part of its activities. Nevertheless, should in the future be positioned to carry out investments next to our core activities. case we will apply triple bottom line impact criteria for the selection of our investments.
We are located at the Amsterdam Science Park, which has the ambition to become one of the most sustainable science parks globally in terms of energy supply & efficiency, climate neutral construction and mobility. As part of our day to day practices a waste recycling policy applies, we actively minimize the use of resources and promote commuting either by public transport or by environmentally friendly means of transport. Furthermore, we cultivate and promote the Company’s stand towards
environmentally responsible practices.
The key raw material for our products is pharma grade manufacture under GMP conditions. We do not use any environmentally harmful materials nor GMO. Regarding product packaging there is currently no recycled or ecological material alternatives in the market for pharmaceutical products given that they are insufficiently stable when in contact with medical products. Having said this, we strive to lead by example and will continue to investigate opportunities to lower the environmental impact of
We aim at being one of the most sustainable pharmaceutical companies worldwide. As we grow into our next phase of development, we attempt at directly measuring the environmental impact of our activities (i.a. CO2 emissions, water, paper consumption). In subsequent phase we will conduct peer comparison.
We believe in transparency as a prerequisite to gain trust from our stakeholders. Transparency means disclosure of all information relevant to the common good.
Co-determination means for us maintaining a close and active engagement with our stakeholders especially if the outcomes of our activities affect them directly.
The origin of our key raw materials is the Dutch and German Governments. We apply transparency supply chain criteria to our other suppliers i.e. packaging or lab equipment. This includes inquiring the existence of procurement policies that embed transparency and co-determination of their respective suppliers including provenance of the supplied goods.
MYCB1 actively promotes the distribution of co-ownership rights to our employees and key advisors through an Employee Stock Ownership Plan (“ESOP”) epresenting up to 10% of the Company’s share capital.
Subject to privacy laws, data protection and Company’s protected intellectual property we strive for maximizing transparent and easy access to essential information of our internal organization such as:
board minutes and salary structures. In addition to this, we promote active involvement and contribution of our employees in the strategy and day-to-day activities of the Company. In the future we will implement 360 evaluation processes to all employees including management. As operations scale up and teams increase in size we will support a culture of self-responsibility and empowerment with the creation of self-steering teams.
Patients participation is critical to our business model. The feedback loops that are created with our patients through our products and technologies are an indispensable part of our product development. It further allows us to improve our products continuously in order to meet patient needs. We apply track and trace technology for the full production process to guarantee the immutability and compliance of our reports, in a digital environment ISO 27001.
Through specific policies and guidelines applicable to our directors, board members and
employees we promote integrity and address the following areas:
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Science Park 106
1098 XG Amsterdam
+31 (0)20 723 5860
+49 52 339 853 999
VAT: DE 125444024
Proud member of ECG an economic model for the future.