Aeglea BioTherapeutics exploring strategic alternatives

Aeglea has engaged Wedbush Securities as an exclusive financial advisor to assist in the process of exploring strategic alternatives, which will include, but are not limited to, an acquisition, merger, reverse merger, other business combination, sales of assets or other strategic transactions. There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions. The company has not set a timetable for completion of this strategic review. As part of this process, Aeglea is reducing its workforce and will retain approximately 10 employees. The company also announced the departures of Michael Hanley, Chief Business Officer, and Linda Neuman, Chief Medical Officer. The company’s other clinical program, pegzilarginase for the treatment of patients with Arginase 1 Deficiency which is partnered in Europe and certain countries in the Middle East with Immedica Pharma AB, currently has a Marketing Authorization Application under review with the European Medicines Agency with a potential decision on approval in late 2023.