Impel Pharmaceuticals Announces Exploration of Strategic Alternatives
October 05 2023 - 8:00AM
Impel Pharmaceuticals Inc. (NASDAQ: IMPL) (“Impel” or “the
Company”), a commercial-stage biopharmaceutical company with a
mission to develop transformative therapies for people suffering
from diseases with high unmet medical needs, today announced that
it has initiated an exploration of strategic alternatives. As part
of this process, the Company plans to consider a wide range of
options with a focus on maximizing shareholder value, including a
potential sale of assets of the Company, a sale of all of the
Company, a merger or other strategic transactions. As the Company
explores strategic options, Impel continues to provide full
commercial support behind Trudhesa, including Trudhesa Direct
access support.
The Company has engaged Moelis & Company LLC
to act as its financial advisor and Fenwick & West to act as
its legal advisor in connection with this review.
There can be no assurance that this process will
result in the Company pursuing or consummating any particular
transaction or other strategic outcome. The Company currently
expects to conduct this process over the remainder of 2023, with a
goal of closing any such transactions no later than early 2024.
However, if the Company is unable to complete a transaction, it may
be necessary to seek additional financing or other alternatives for
restructuring and resolving its liabilities. The Company expects to
provide further updates, as appropriate, as this process
develops.
About Impel Pharmaceuticals
Inc.
Impel Pharmaceuticals Inc. is a commercial-stage
pharmaceutical company developing transformative therapies for
people suffering from diseases with high unmet medical needs. Impel
offers development opportunities that pair its proprietary POD®
technology with well-established therapeutics. In September 2021,
Impel received U.S. FDA approval for its first product, Trudhesa®
nasal spray, which is approved in the U.S. for the acute treatment
of migraine with or without aura in adults.
Safe Harbor / Forward Looking
Statements
This press release contains “forward-looking”
statements within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995, including,
but not limited to, statements regarding the Company’s exploration
of strategic alternatives, the Company’s plans to consider a wide
range of strategic transactions, the potential timing of any such
transaction, whether third parties will be interested in pursuing a
potential transaction, and the Company’s belief that now is an
opportune time to explore a range of potential strategic
alternatives. Forward-looking statements can be identified by words
such as: “believe,” “may,” “will,” “potentially,” “estimate,”
“continue,” “anticipate,” “intend,” “could,” “would,” “project,”
“plan,” “expect” or the negative or plural of these words or
similar expressions. There are a number of factors that could cause
actual results and developments to differ materially, including the
risk that Impel may not identify one or more strategic alternatives
or ultimately pursue or consummate a strategic alternative, the
risk that Impel’s exploration of strategic alternatives or the
public announcement thereof may be disruptive to Impel’s business
operations or cause Impel’s stock price to fluctuate significantly,
the risk that Impel’s exploration of strategic alternatives may be
time consuming and involve the dedication of significant resources
and may require Impel to incur significant costs and expenses, the
risk that Impel’s exploration of strategic alternatives could
divert the attention of Impel’s management and its board of
directors from the existing business operations, negatively impact
Impel’s ability to attract, retain and motivate key employees, and
expose Impel to potential litigation in connection with the process
of exploring strategic alternatives or any resulting transaction,
and the risk of Impel seeking in or out of court restructuring of
its outstanding debt, among other risks and uncertainties, as well
as those factors more fully described in Impel’s filings with the
SEC. Any forward-looking statements in this press release speak
only as of the date of this press release. Impel assumes no
obligation to update forward-looking statements whether as a result
of new information, future events or otherwise, after the date of
this press release.
Contact:Michael KalbImpel Pharmaceuticals
Inc.Email: IR@impelpharma.com
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