Brief: Eliem Therapeutics Says Formed Special Committee Of Independent & Disinterested Directors To Oversee Co's Exploration Of Strategic Alternatives

Climb Bio

19/03/2024 10:32

March 19 (Reuters) - Eliem Therapeutics Inc  ELYM.O :
    * ELIEM THERAPEUTICS - FORMED SPECIAL COMMITTEE OF
INDEPENDENT &
DISINTERESTED DIRECTORS TO OVERSEE CO'S EXPLORATION OF STRATEGIC
ALTERNATIVES
    * ELIEM THERAPEUTICS - CO & DEVELOPMENT STAGE PRIVATE
BIOTECHNOLOGY CO ("TANGO") HAVE ENGAGED IN DISCUSSIONS TO
DETERMINE IF POTENTIAL DEAL BENEFICIAL
    * ELIEM THERAPEUTICS INC - ON MARCH 14, 2024, TANGO
SUBMITTED A
SUMMARY OF PROPOSED TERMS
    * ELIEM THERAPEUTICS-UNDER TERMS, CO TO ACQUIRE TANGO WHERE
CO TO
ISSUE COMMON STOCK TO TANGO'S EQUITYHOLDERS IN EXCHANGE FOR
OUTSTANDING EQUITY OF TANGO
    * ELIEM THERAPEUTICS - UNDER PROPOSED TERMS, TANGO WOULD
BECOME A
WHOLLY-OWNED SUBSIDIARY OF CO

Source text for Eikon:  ID:n0001193125-24-070333 
Further company coverage:  ELYM.O 

 ((Reuters.Briefs@thomsonreuters.com;))