Talis Biomedical announces exploration of strategic alternatives

Talis Biomedical announced it has initiated a process to explore strategic alternatives with the goal of maximizing shareholder value. While the Company has made progress developing the Talis One system, it believes that this is a prudent path forward given current market conditions. As part of this process, the Company’s Board of Directors has appointed a special committee of independent, disinterested directors to consider a wide range of strategic alternatives, including, but not limited to, equity or debt financing alternatives, an acquisition, merger, reverse merger, divestiture of assets, licensing or other strategic transactions. There can be no assurance that the ongoing strategic review will result in Talis Biomedical entering into any transaction or that any transaction will be completed on attractive terms. The Company has not set a timetable for completion of the strategic process and does not intend to provide progress updates unless and until it is determined that further disclosure is appropriate or necessary.