Brief: Eliem Therapeutics Provides Strategic Update, Announces Leadership Transition

Climb Bio

09/02/2023 21:32

Feb 9 (Reuters) - Eliem Therapeutics Inc  ELYM.O :
    * ELIEM THERAPEUTICS PROVIDES STRATEGIC UPDATE AND ANNOUNCES
LEADERSHIP TRANSITION
    * ELIEM THERAPEUTICS INC - IMPLEMENTING CORPORATE
REORGANIZATION
TO EXTEND CASH RUNWAY INTO 2027
    * ELIEM THERAPEUTICS INC - WILL REDUCE ITS WORKFORCE BY
APPROXIMATELY 55% IN FIRST HALF OF 2023
    * ELIEM THERAPEUTICS INC - BOB AZELBY, PRESIDENT AND CHIEF
EXECUTIVE OFFICER, AND A MEMBER OF ELIEM BOARD, WILL BE
DEPARTING CO
    * ELIEM THERAPEUTICS INC - COMPANY PLANS TO COMMENCE A
FIRST-IN-HUMAN PHASE 1 TRIAL IN FIRST HALF OF 2024
    * ELIEM - PAUSING CLINICAL DEVELOPMENT OF ETX-155 FOR MAJOR
DEPRESSIVE DISORDER (MDD) DUE TO CHALLENGING CAPITAL ENVIRONMENT
    * ELIEM THERAPEUTICS INC - ANDREW LEVIN, CURRENT CHAIRMAN OF
BOARD, HAS BEEN APPOINTED AS EXECUTIVE CHAIRMAN
    * ELIEM THERAPEUTICS INC - ERIN LAVELLE, EXECUTIVE VICE
PRESIDENT,
CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER WILL DEPART
THE CO

Source text for Eikon:  ID:nGNX5FSntm 
Further company coverage:  ELYM.O 
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