Eliem Therapeutics Announces Plans to Explore Strategic Alternatives
20 Julho 2023 - 7:45AM
Eliem Therapeutics, Inc. (Nasdaq: ELYM) today announced that it has
completed a review of its business, including the status of its
programs, resources, and capabilities, and has made the
determination to halt further development of its Kv7 program and to
conduct a comprehensive exploration of strategic alternatives
focused on maximizing shareholder value. Eliem has engaged Leerink
Partners to act as a strategic advisor in the process.
As part of this process, Eliem will explore potential strategic
alternatives that may include, but are not limited to, an
acquisition, merger, business combination, or other transaction.
There can be no assurance that its exploration will result in Eliem
pursuing a transaction or that any transaction, if pursued, will be
completed on attractive terms, if at all. Eliem has not set a
timetable for completion of this evaluation process and does not
intend to disclose further developments unless and until it is
determined that further disclosure is appropriate or necessary.
As of June 30, 2023, the Company had a preliminary unaudited
amount of approximately $102.6 million in cash, cash equivalents
and investments in marketable securities.
About Eliem Therapeutics,
Inc.
Eliem Therapeutics, Inc. is a biotechnology company focused on
developing novel therapies for neuronal excitability disorders to
address unmet needs in psychiatry, epilepsy, chronic pain, and
other disorders of the peripheral and central nervous systems. At
its core, the Eliem team is motivated by the promise of helping
patients live happier, more fulfilling lives.
https://eliemtx.com/
Forward-Looking Statements
This press release contains forward-looking statements,
including, without limitation, statements relating to: the
continued development and clinical and therapeutic potential of
Eliem’s product candidates and strategic alternatives. Words such
as “excited,” “advance,” “look forward,” “believe,” “potential,”
“will,” “on track,” “expects,” “opportunity,” “continues,” “plans,”
“runway,” “initiate,” “anticipated,” “support,” or other similar
expressions, identify forward-looking statements, but the absence
of these words does not necessarily mean that a statement is not
forward-looking. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. The
forward-looking statements in this press release are based upon
Eliem's current plans, assumptions, beliefs, expectations,
estimates and projections, and involve substantial risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements
due to these risks and uncertainties as well as other factors,
which include, without limitation: Eliem’s ability to successfully
pursue a strategic alternative transaction on attractive terms, or
at all ; and other factors discussed under the caption "Risk
Factors" in Eliem's Quarterly Report on Form 10-Q for the quarterly
period ended March 31, 2023. This filing is available on the SEC's
website at www.sec.gov. Additional information will also be set
forth in Eliem's other reports and filings it will make with the
SEC from time to time. The forward-looking statements made in this
press release speak only as of the date of this press release.
Eliem expressly disclaims any duty, obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Eliem's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
InvestorsChris Brinzey ICR
Westwickechris.brinzey@westwicke.com339-970-2843
MediaMarites CoulterVerge
ScientificMcoulter@vergescientific.com415-819-2214
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