Sio Gene Therapies Provides Corporate Update
-Company Announces Termination of Licensing Agreement for GM1 and GM2 Gene Therapies with the
-Company has engaged
-Company had cash and cash equivalents of approximately
In parallel, the Company announced that it plans to explore and review a range of strategic alternatives focused on maximizing stockholder value from the Company’s cash and cash equivalents of approximately
“After a thorough review of our ongoing programs, and given the current public financing environment, we have decided to terminate our GM1 and GM2 licensing agreements with UMass and wind down our related clinical trials and manufacturing operations,” said
Forward-Looking Statements
This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as “believe”, “would”, “plan”, “explore”, “expect”, “intend”, “estimate”, “may” and other similar expressions are intended to identify forward-looking statements. For example, all statements Sio makes regarding potential strategic alternatives focused on maximizing stockholder value and related review process, costs associated with its planned operating activities, headcount reductions and capital conservation plans, expectations regarding ability to obtain financing, expected cash burn runway, and expectations regarding licensing and commercial agreements including planned activities, timing, and costs associated with wind-downs of clinical programs (including the license and manufacturing arrangements for GM1 and GM2) are forward-looking. All forward-looking statements are based on estimates and assumptions by Sio’s management that, although Sio believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Sio expected. Such risks and uncertainties include, among others, the impact of the COVID-19 pandemic on Sio’s operations; the actual funds required for planned operating activities, including wind-down activities for clinical programs and exploration of strategic alternatives; costs and risks related to headcount reductions and capital conservation plans; the ability to explore and execute upon strategic alternatives; the ability to efficiently wind down clinical programs and conduct required activities during wind down processes; the outcome of interactions with regulatory agencies.
These statements are also subject to a number of material risks and uncertainties that are described in Sio’s most recent Quarterly Report on Form 10-Q filed with the
Contacts:
Media
(646) 751-4361
jo@lifescicomms.com
info@siogtx.com
Investors and Analysts
Chief Executive Officer; Chief Financial Officer and General Counsel
david.nassif@siogtx.com

Source: Sio Gene Therapies