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Egetis is an innovative and integrated pharmaceutical company, focusing on projects in late-stage development for commercialization for treatments of serious diseases with significant unmet medical needs in the orphan drug segment

Egetis announces termination of discussions regarding a potential acquisition of the Company and provides a corporate update

May 23, 2023

Stockholm, Sweden, May 23, 2023. Further to the announcement published on March 30, 2023, in response to certain market rumors, the Board of Directors of Egetis Therapeutics AB (publ) (STO: EGTX) (the “Company”) wishes to make the following statement: Discussions, which were triggered by an unsolicited approach by an external party, have taken place between certain external parties and Egetis regarding a potential acquisition of the Company. These discussions have now been terminated as the Board believes the contemplated offer and terms, while providing a premium to the current share price, considerably undervalued the long-term prospects of the Company. The Company will continue to focus on delivering the strategy outlined at its Capital Markets Day on October 13, 2022 [LINK]. As a consequence of this intense process and discussions, the timeline for the submission of the marketing authorisation application (MAA) for Emcitate (tiratricol) to the European Medicines Agency (EMA) has been extended from the second quarter to the early autumn of 2023. Nonetheless, the Company remains confident that Emcitate is on track for expected regulatory approvals and launches in both EU and USA during 2024.

Thomas Lönngren, Chairman of the Board of Directors of Egetis, said: “We are in a transformative period for the Company, with several near-term value creating milestones and the Board of Egetis believes that the strategy to build an independent sustainable rare-disease company with the ambition to bring unique therapies to patients with rare diseases to extend and improve quality of life remains the most long-term value creating alternative for our shareholders.”

Nicklas Westerholm, CEO of Egetis, continued: “There is a huge unmet medical need to treat patients suffering from MCT8 deficiency and it is a key priority for Egetis to bring Emcitate to market as the first treatment available for these patients. Because of the intense process and discussions with external parties regarding a potential acquisition, the EMA submission for Emcitate is now expected in the early autumn of 2023. I’m also looking forward to the first patient being enrolled in the ReTRIACt trial in the second quarter of this year. We remain on track for expected regulatory approvals and launches in both EU and USA during next year as planned and continue the stepwise build-up of our commercial and medical affairs capabilities in preparation for these launches.”



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