BRIEF-Eliem Therapeutics Says Formed Special Committee Of Independent & Disinterested Directors To Oversee Co's Exploration Of Strategic Alternatives

Reuters03-19

March 19 (Reuters) - Eliem Therapeutics Inc :

* ELIEM THERAPEUTICS - FORMED SPECIAL COMMITTEE OF INDEPENDENT & DISINTERESTED DIRECTORS TO OVERSEE CO'S EXPLORATION OF STRATEGIC ALTERNATIVES

* ELIEM THERAPEUTICS - CO & DEVELOPMENT STAGE PRIVATE BIOTECHNOLOGY CO ("TANGO") HAVE ENGAGED IN DISCUSSIONS TO DETERMINE IF POTENTIAL DEAL BENEFICIAL

* ELIEM THERAPEUTICS INC - ON MARCH 14, 2024, TANGO SUBMITTED A SUMMARY OF PROPOSED TERMS

* ELIEM THERAPEUTICS-UNDER TERMS, CO TO ACQUIRE TANGO WHERE CO TO ISSUE COMMON STOCK TO TANGO'S EQUITYHOLDERS IN EXCHANGE FOR OUTSTANDING EQUITY OF TANGO

* ELIEM THERAPEUTICS - UNDER PROPOSED TERMS, TANGO WOULD BECOME A WHOLLY-OWNED SUBSIDIARY OF CO

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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