MYND Life Sciences Inc. (NYSE: MYND) Closes $20 Million Sale of Non-strategic Business Unit, Announces Additional Strategic Actions

Mynd.ai, Inc. (NYSE American: MYND) today announced a series of strategic actions designed to enhance the Company's operations and drive long-term shareholder value, including the following:

The sale, on October 2, 2024, of the Company's entire 85% ownership interest in its Singapore-based early childcare learning business for a total consideration of $20 million in cash.

The redeployment of capital to enhance business development and future technology innovation to increase sales within its core markets.

The optimization of our operational structure to enhance efficiency and generate anticipated cost savings in excess of $20 million annually.

"We are pleased to embark on the next phase of Mynd's evolution by redeploying capital to strengthen our sales efforts and position the Company for future investment in our product offerings, which we believe will enable us to achieve our long-term strategic vision and increase shareholder value," stated Vin Riera, Mynd's Chief Executive Officer. "We expect that additional actions we are taking to optimize our operations will help us improve profitability as we manage growth and corporate transformation."

Arthur Giterman, Mynd's Chief Financial Officer commented, "We believe that the sale of our non-strategic early childhood development business in conjunction with various cost optimization actions, including a reduction in head count, programmatic spend, and the utilization of certain service providers, will provide Mynd with additional liquidity and balance sheet strength, enabling us to focus our efforts on maintaining our market leadership in the Interactive Flat Panel Display segment and delivering both hardware and software solutions for the education, business, and public sectors."

Forward-Looking Statements

This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements reflect Mynd's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," "optimistic," and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled "Risk Factors" in Mynd's Annual Report on Form 20-F, filed with the SEC on March 27, 2024, as such factors may be updated from time to time in Mynd's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Mynd's filings with the SEC. While forward-looking statements reflect Mynd's good faith beliefs, they are not guarantees of future performance. Mynd disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law.

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Bio-Path Holdings (NASDAQ: BPTH) Initiates Development of Therapeutic Program for Treatment of Obesity

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Bio-Path Holdings, Inc., (NASDAQ: BPTH), a biotechnology company leveraging its proprietary DNAbilize? liposomal delivery and antisense technology to develop a portfolio of targeted nucleic acid cancer drugs, today announced the initiation of a therapeutic program to develop BP1001-A for the treatment of obesity and related metabolic diseases. This program marks the first application of DNAbilize technology for development of a non-cancer application, which highlights the broad therapeutic potential of this technology.

The Company also reported completion of enrollment in the third dosing cohort of its ongoing Phase 1/1b clinical trial evaluating BP1002 for the treatment of refractory/relapsed acute myeloid leukemia (AML) patients, including venetoclax-resistant patients. The cohort enrolled more quickly than projected, which underscores the ongoing need for new treatment options for these relapsed/refractory patients.

“Initiating a DNAbilize development program for the treatment of obesity is an exciting expansion opportunity with the potential to treat a growing epidemic. Developing BP1001-A for the treatment of obesity should have a high probability of success as its mechanism of action has the potential to treat insulin resistance, which is the underpinning of obesity, Type 2 diabetes and other related diseases,” said Peter H. Nielsen, President and Chief Executive Officer of Bio-Path. “We expect to initiate Investigational New Drug (IND)-enabling testing of BP1001-A in the fourth quarter of 2024.”

“In addition, we are pleased to report enrollment for the third dosing cohort of the Phase 1/1b clinical trial of BP1002 in refractory/relapsed AML patients has completed faster than projected. AML patients who had relapsed from frontline venetoclax-based treatment and are refractory to salvage therapy face dire survival prospects and we believe that BP1002 therapy can help these patients,” concluded Mr. Nielsen.

BP1001-A for Treatment of Obesity – The disease pathology leading to obesity suggests that BP1001-A, which suppresses the adaptor protein Grb2, has the potential to treat insulin resistance, a major contributor to obesity, Type 2 diabetes and other related metabolic diseases. Bio-Path expects downregulating Grb2 expression with BP1001-A will enhance insulin sensitivity. The Company expects to begin preclinical studies to confirm these assumptions in the fourth quarter of 2024. These studies are expected to provide crucial insights into the mechanism and efficacy of BP1001-A in enhancing insulin sensitivity and reveal its therapeutic potential for obesity and Type 2 diabetes. Following successful preclinical studies, Bio-Path anticipates that a Phase 1 clinical trial would follow.