ALT5 Sigma to separate into two independent publicly-traded companies

ALT5 Sigma has announced a strategic plan to separate into two distinct companies. Following consummation of this plan, ALT5 will execute the separation of its Fintech and Biotech businesses, with ALT5 continuing as a leading fintech organization post-separation. The Biotech segment will emerge as Alyea Therapeutics Corporation, an independent firm dedicated to developing non-addictive pain management therapies. Upon separation, each company will present its own unique growth opportunities. As standalone entities, both companies are expected to benefit from: Increased focus and agility within their respective industries; Tailored capital allocation strategies to pursue differentiated strategic growth objectives; Enhanced strategic flexibility for portfolio-enhancing mergers and acquisitions; Unique investment profiles appealing to diverse investor bases; Distinct boards of directors and management teams dedicated to creating and increasing value in their respective sectors. The plan has been unanimously approved by the Company’s board, following a thorough evaluation of alternatives that have been underway since the acquisition of fintech innovator ALT5 Sigma in May of this year. ALT5 will maintain its focus on blockchain-powered technologies that facilitate the transition to a new global financial paradigm. The Company offers two main platforms: “ALT5 Pay” and “ALT5 Prime.” ALT5 Pay is a cryptocurrency payment gateway that enables registered and approved global merchants to accept and conduct cryptocurrency transactions or seamlessly integrate the ALT5 Pay platform into their applications or operations. ALT5 Prime is an electronic over-the-counter trading platform allowing registered and approved customers to buy and sell digital assets. It is accessible via browser-based applications, mobile apps, and through Broadridge Financial Solutions’ NYFIX gateway for approved customers. Both ALT5 Pay and ALT5 Prime are experiencing increased customer engagement, with transaction volumes now exceeding $2 billion on an annualized basis. Alyea Therapeutics aims to become a leader in non-addictive pain management therapies. It intends to focus on indications of unmet medical needs and intends strategically to develop pathways to expedite approvals for its lead patented candidate, JAN123. This candidate is a Low Dose Naltrexone with a biphasic release formulation that the company plans to pursue through the FDA 505(b)(2) pathway. It has received orphan drug designation from the FDA, and, as a late-stage asset, the company intends to initiate a large-scale multicenter clinical trial to facilitate FDA approval through a New Drug Application. Simultaneously, Alyea Therapeutics will explore additional technologies to enhance its portfolio of non-opioid-based pain products. In connection with this realignment, the company is pleased to announce the appointment of Dr. Amol Soin as CEO of Alyea Therapeutics. Dr. Soin is the Chairman and founder of The Ohio Pain Clinic, a network of free-standing chronic pain management facilities in southwestern Ohio, focused on non-opioid treatments for chronic pain. Tony Giordano has been appointed Chief Science Officer of Aleaya Therapeutics. Most recently, he served as Senior Director of Special Projects in Cleveland Clinic Innovations, where he collaborated with staff to advance programs toward clinical application and commercialization. The company intends to hire additional management and appoint additional directors to both entities to bolster each respective company’s teams with a focus on the unique specific needs for each entity.