MALVERN, Pa., March 29, 2019
/PRNewswire/ -- Realm Therapeutics plc (NASDAQ:
RLM) today announces the completion of its previously
announced Assets Disposal representing certain assets, which
comprise the Vashe® wound care royalty stream,
an FDA 510(k)-cleared anti-itch hydrogel, which was
formerly marketed as Aurstat™, HOCI related equipment,
intellectual property (including know-how, patents and copyrights),
program records, and certain assigned contracts and intellectual
property licenses (as detailed in the Circular to Shareholders
issued on February 15, 2019). Gross proceeds of the Assets Disposal
are $10 million.
Realm continues to assess options available to maximize
shareholder value through the strategic review. The Company remains
in discussions with interested parties regarding a potential
strategic transaction and intends to update the market with respect
thereto in early Q2 2019. The net proceeds of the
Assets Disposal will augment the Company's current cash resources,
which may be deployed in event of such a transaction.
Capitalized terms used but not defined in this announcement
shall have the meanings given to them in the circular sent to Realm
shareholders on February 15, 2019, which remains available on
the Company's website
at www.realmtx.com.
G-RLM
About Realm Therapeutics
Realm Therapeutics is currently exploring strategic
alternatives. The Investing Policy, which remains the strategic
focus of the Directors, requires the Company to seek to invest in,
partner with, acquire and/or be acquired by a company with
meaningful development potential in the life sciences sector or
with good overall business prospects. For more information
on Realm Therapeutics, please visit www.realmtx.com.
Forward-Looking Statements
Certain statements contained herein constitute
forward-looking statements, including those with respect to the
timing and completion of any proposed strategic transaction. These
forward-looking statements reflect the Company's judgment at the
date of this announcement and are not intended to give any
assurance as to future results. Except as required by Nasdaq or
applicable law, the Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained in this announcement to
reflect any changes in the Company's expectations about them or any
changes in events, conditions or circumstances on which any such
statement is based.
Contacts:
Realm Therapeutics plc
Alex Martin, Chief Executive
Officer
Marella Thorell, Chief Financial
Officer and Chief Operating Officer
Outside U.S.: +44 (0) 20 3727 1000
U.S.: +1 212 600 1902
Argot Partners
Stephanie Marks / Claudia Styslinger
+1 212 600 1902
FTI Consulting
Simon Conway
+44 (0) 20 3727 1000
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SOURCE Realm Therapeutics