Avai Bio Announces Strategic Review Process Intended to Maximize Shareholder Value

LAS VEGAS, NV / ACCESSWIRE / September 4, 2024 / Avai Bio, Inc. (OTCQB:AVAI) ("Avai Bio" or the "Company"), an emerging technology company developing solutions in the artificial intelligence (AI) sector, today announced it will begin exploring new opportunities in the biotechnology sector as part of Avai Bio's strategic review process that is now underway. The process will include reviewing and evaluating strategic technology alternatives that may be available to Avai Bio to further enhance the Company's growth opportunities, development, and prosperity with the goal of maximizing shareholder value.

Avai Bio has commenced preliminary discussions with potential strategic partners in both the biotechnology and technology sectors. The Company is also identifying potential technologies that could be a good fit for Avai Bio's future. Avai Bio expects that its strategic review will lead to an exciting new plan for Avai Bio's future, including potential joint ventures, acquisitions, and partnerships with leaders in the biotechnology and other technology sectors.

"Our management team and the Board of Directors are completely aligned on the decision to begin a strategic review of technology alternatives to maximize shareholder value. We will continue discussions with other companies, industry leaders, and legal advisors to enhance the path forward for Avai Bio and its shareholders," said, Kenneth L. Waggoner, Avai Bio's Chief Executive Officer. "While the review process is ongoing, Avai Bio's management remains committed to executing itsstrategic objectives with the full support of the Board."

About Avai Bio, Inc.

Avai Bio, Inc. is an emerging technology company developing solutions in artificial intelligence. With a focus on pushing the boundaries of what is possible in AI and machine learning, Avai Bio serves a diverse range of industries, driving progress and efficiency through state-of-the-art technology.

More information about Avai Bio can be found at https://avaibio.com

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Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (https://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date of the press release.

Contact:

Avai Bio, Inc.
info@avaibio.com

SOURCE: Avai Bio, Inc.