Sesen Bio: Pending Carisma merger in best interests of stockholders

Sesen Bio issued the following statement reiterating the Company’s confidence in, and commitment to, the pending merger with Carisma Therapeutics n response to the release issued yesterday by Bradley Radoff and Michael Torok and their affiliates or collectively, the "Investor Group." Our attempts to engage with the Investor Group have been driven by our belief that an amicable resolution and successful transaction are in the best interest of our stockholders. Despite the fact that Mr. Radoff built his current position after the merger was announced, and the continued efforts by the Investor Group to disrupt the process to the detriment of our long-term stockholders, we still sought to negotiate with them with the hopes of achieving the best outcome for our stockholders. In contrast, we believe the Investor Group continues to be opportunistic and single-minded, disseminating misleading information about discussions with Sesen Bio and its advisors, and appears willing to sacrifice direct and immediate cash value and the potential upside of ownership in the combined company to secure a short-term payout.