Tyme technologies news4/16/2023 ![]() ![]() This press release may contain forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”)) concerning Syros, Tyme, the proposed transactions and other matters. Tyme believes that early clinical results demonstrated by SM-88 in multiple advanced cancers, including prostate, sarcomas and breast, reinforce the potential of its emerging CMBT™ pipeline. The Company is currently focused on developing its novel compound, SM-88 and its preclinical pipeline of novel CMBT™ programs. Unlike targeted therapies that attempt to regulate specific mutations within cancer, Tyme’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to cause cancer cell death. Tyme is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™) that are intended to be effective across a broad range of solid tumors and hematologic cancers, while also maintaining patients’ quality of life through relatively low toxicity profiles. New and existing investors in the PIPE, which was led by a life sciences-focused investment fund, include Syros co-founder and founding investor Flagship Pioneering, Avidity Partners, Deep Track Capital, entities affiliated with Bain Capital Life Sciences, Invus, Samsara BioCapital, Adage Capital Partners LP, and Ally Bridge Group, as well as other investors. Upon closing of the merger, Tyme will become a wholly owned subsidiary of Syros.Ĭoncurrent with the merger, Syros announced a $130 million private investment in public equity (PIPE) financing at a price per unit of $0.94. The actual number of shares to be issued in the merger and the exchange ratio will be subject to adjustment based on the amount of Tyme’s net cash at closing and the number of Tyme shares outstanding at closing. ![]() In the merger, it is expected that Syros would issue approximately 74.3 million shares of its common stock to Tyme stockholders to acquire Tyme and Tyme stockholders are expected to receive approximately 0.4312 shares of Syros common stock for each share of Tyme common stock. ISS and Glass Lewis are leading independent, third-party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.Īs previously announced, on July 3, 2022, Syros and Tyme entered into an Agreement and Plan of Merger, pursuant to which Tyme will merge with a wholly owned subsidiary of Syros. ![]() (“Syros”) and “FOR” all other matters to be voted upon at the Company’s upcoming Special Meeting of Stockholders (the “Special Meeting”) scheduled for Septemat 11:00 a.m., Eastern Time. (“ISS”) have recommended that Tyme stockholders vote “FOR” the previously announced merger of Tyme and Syros Pharmaceuticals, Inc. (“Glass Lewis”) and Institutional Shareholder Services Inc. ![]() (NASDAQ:TYME) (“Tyme” or the “Company”), today announced that independent proxy advisory firms Glass, Lewis & Co. 07, 2022 (GLOBE NEWSWIRE) - Tyme Technologies, Inc. ![]()
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