Vyant Bio (NASDAQ:VYNT) Inc has engaged LifeSci Capital as its financial advisor to assist in exploring a range of strategic alternatives focused on enhancing shareholder value.
The biotechnology company also said it is participating in BIO’s One-on-One Partnering event in San Francisco taking place at the same time as the annual JP Morgan Healthcare Conference.
READ: Vyant Bio in position to be fully funded through 2023 following sale of subsidiary, 3Q results show
"The company’s board and management believes that the company has made tangible progress in its drug discovery strategy focused on the identification of new, disease modifying therapeutics to treat neurodevelopmental and neurodegenerative diseases," said Jay Roberts, CEO of Vyant Bio (NASDAQ:VYNT).
Roberts added: “However, the board and management also believe that it would be a prudent time to contemplate strategic alternatives while continuing to execute on the current business plan.”
In a statement the company said there can be no assurance that this review process will result in any changes to current business plans or lead to any specific action or transaction.
Vyant said it does not intend to discuss or disclose further developments during this process unless they have been approved by the board.
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