Seelos Therapeutics Announces Strategic Focus On Mental Health Initiatives And Provides An Update On Current Discussions Of Potential Partnerships And Collaboration; Richard Pascoe Appointed Chairman Of The Board






-Richard Pascoe appointed Chairman of the Board of Directors to spearhead the ongoing business development discussions

NEW YORK, April 29, 2024 /PRNewswire/ -- Seelos Therapeutics, Inc. (NASDAQ:SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today provided an update on the current discussions of potential partnerships and collaborations and announced the appointment of Richard Pascoe as Chairman of the Board of Directors of Seelos to lead the ongoing strategic process and business development discussions and negotiations. Mr. Pascoe has served as member of the Seelos board since 2019.

In October 2023, Seelos retained Canaccord Genuity to assist in its ongoing review of potential partnerships, collaborations, and business development opportunities. On the merits of Seelos' unique ketamine expertise with SLS-002 in suicidality and its inclusion in a government sponsored PTSD study, the company is currently in discussions for a potential collaboration in the mental health space to increase shareholder value.

"We are committed to creating a mental health franchise by aligning with companies having complementary pipelines. We are currently in active discussions with potential partners that align with our strategic vision.  Our overarching goal is to pursue a transaction that we believe will have the ability to create a leading mental health company addressing large commercial opportunities and areas of high unmet need. This should simultaneously bring the greatest value to our shareholders and other key stakeholders," said Richard Pascoe, Chairman of the Board of Seelos.

Seelos does not expect to comment further on this process, unless and until its Board of Directors has approved a specific course of action or until it determines that further disclosure is appropriate.

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