Xlife Sciences initiates a review of strategic options

Xlife Sciences AG / Key word(s): Miscellaneous

21-Nov-2022 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

The Board of Directors of Xlife Sciences AG (SIX: XLS), a leading European life sciences incubator and accelerator based in Switzerland, has initiated a process to review strategic options, aimed at accelerating the company's business development, and increasing value for its stakeholders. This review will consider all options available to the company which could include a recalibration of ownership, including the acquisition of a part or all outstanding shares by an investor, or a change in listing profile.

Dr. Bernhard Scholz, Chairman of the Board of Directors of Xlife Sciences, comments: “Given the progress of the company since its listing on the SIX Swiss Exchange and the current outlook for emerging life science companies, the Board of Directors concluded the timing was right to initiate a review of strategic options. The Board and Management Team are committed to creating sustainable value for all stakeholders.”

David L. Deck, Co-Founder and Member of the Board of Directors of Xlife Sciences, adds: “We remain excited about the trajectory and potential of the company, and welcome the opportunity to conduct a thorough strategic review together with our advisors. The main shareholders remain fully committed to the long-term development of Xlife Sciences. Thanks to our strong platform and established network, and our carefully selected and promising portfolio companies, Xlife Sciences is well positioned to continue creating value for all stakeholders.”

The company has engaged Citi as financial advisor to assist in the strategic review process. Xlife Sciences will update the market on the results of this exercise in due course.

Financial calendar

Annual Report 2022                 April 20, 2023

Ordinary AGM 2023                 June 22, 2023

Half-Year Report 2023             September 21, 2023

Contact

Information for journalists: IRF Reputation AG, Valentin Handschin, handschin@irf-reputation.ch

Information for investors: Xlife Sciences AG, Dennis Lennartz, dennis.lennartz@xlifesciences.ch

About Xlife Sciences AG (SIX: XLS)

Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development, and participates in their subsequent performance. For more information, visit www.xlifesciences.ch

Disclaimer

Some of the information contained in this media release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Xlife Sciences undertakes no obligation to publicly update or revise any forward-looking statements.

Citigroup Global Markets Limited ("Citi"), which is authorised in the UK by the Prudential Regulation Authority (“PRA”) and regulated in the UK by the Financial Conduct Authority (“FCA”), is acting as financial adviser for Xlife Sciences and no one else in connection with the matters described in the announcement and will not be responsible to anyone other than Xlife Sciences for providing the protections afforded to its clients for providing advice in relation to the contents of this announcement or any transaction or any other matters referred to herein.