Eliem Therapeutics plans to explore strategic alternatives

Eliem Therapeutics 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. As of June 30, the Company had a preliminary unaudited amount of approximately $102.6M in cash, cash equivalents and investments in marketable securities.