ALT5 Sigma Corp to Split into Two Publicly Traded Companies

ALT5 Sigma Corporation (NASDAQ:ALTS) has revealed a strategic plan to divide its operations into two independent entities. The move will see ALT5's fintech and biotech businesses separated, creating ALT5 as a standalone fintech company, while its biotech segment will emerge as Alyea Therapeutics Corporation.

Each newly formed entity aims to capitalize on enhanced focus and agility in their respective industries. ALT5 will continue to provide blockchain-powered solutions for digital assets, whereas Alyea Therapeutics will focus on developing non-addictive pain management therapies.

The separation plan has been unanimously approved by ALT5 Sigma's board following thorough evaluations. CEO Peter Tassiopoulos expressed confidence that this move will unlock value for stockholders, customers, and employees.

ALT5’s platforms, "ALT5 Pay" and "ALT5 Prime," continue to see growing engagement, with transaction volumes exceeding $2 billion annually. Alyea Therapeutics will work on its lead candidate, JAN123, aiming for FDA approval through the 505(b)(2) pathway.

Dr. Amol Soin and Tony Giordano have been appointed to lead Alyea Therapeutics as CEO and Chief Science Officer, respectively, bringing extensive experience in pain management and biotech to their roles.