Sio Gene Therapies Inc. (NasdaqGS:SIOX) announced that it plans to explore and review a range of strategic alternatives focused on maximizing stockholder value from the Company's cash and cash equivalents of approximately $64 million at March 31, 2022. The Company will explore options such as the potential for a company sale, merger, business combination, or other transactions designed to maximize shareholder value. SVB Securities will act as Sio's financial advisor with respect to the strategic review process.

“After a thorough review of our ongoing programs, and given the current public financing environment, we have decided to terminate our GM1 and GM2 licensing agreements with UMass and wind down our related clinical trials and manufacturing operations,” said David Nassif, J.D., Chief Executive Officer of Sio. “We are exploring strategic options that may more effectively maximize shareholder value and, as a result, we are also implementing a significant headcount reduction to conserve capital. We will support our study investigators as they complete ongoing clinical activities and continue supplying study drug to patients during the notice period.

We are immensely grateful for the support from the GM1, Tay-Sachs and Sandhoff disease communities and are honored to have worked with such amazing patients, families and physicians over the last few years”.