Exhibit 99.1
TYME Technologies. Inc. Announces Proxy Advisory Firms Glass Lewis and ISS Recommend Stockholders Vote “FOR” Proposed Merger of Syros and Tyme
BEDMINSTER, New Jersey, September 7, 2022 – Tyme Technologies, Inc. (NASDAQ:TYME) (“Tyme” or the “Company”), today announced that independent proxy advisory firms Glass, Lewis & Co. (“Glass Lewis”) and Institutional Shareholder Services Inc. (“ISS”) have recommended that Tyme stockholders vote “FOR” the previously announced merger of Tyme and Syros Pharmaceuticals, Inc. (“Syros”) and “FOR” all other matters to be voted upon at the Company’s upcoming Special Meeting of Stockholders (the “Special Meeting”) scheduled for September 15, 2022 at 11:00 a.m., Eastern Time.
ISS and Glass Lewis are leading independent, third-party proxy advisory firms who, among other services, provide proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.
As previously announced, on July 3, 2022, Syros and Tyme entered into an Agreement and Plan of Merger, pursuant to which Tyme will merge with a wholly owned subsidiary of Syros. In the merger, it is expected that Syros would issue approximately 74.3 million shares of its common stock to Tyme stockholders to acquire Tyme and Tyme stockholders are expected to receive approximately 0.4312 shares of Syros common stock for each share of Tyme common stock. The actual number of shares to be issued in the merger and the exchange ratio will be subject to adjustment based on the amount of Tyme’s net cash at closing and the number of Tyme shares outstanding at closing. Upon closing of the merger, Tyme will become a wholly owned subsidiary of Syros.
Concurrent with the merger, Syros announced a $130 million private investment in public equity (PIPE) financing at a price per unit of $0.94. New and existing investors in the PIPE which was led by a life sciences-focused investment fund include Syros co-founder and founding investor Flagship Pioneering, Avidity Partners, Deep Track Capital, entities affiliated with Bain Capital Life Sciences, Invus, Samsara BioCapital, Adage Capital Partners LP and Ally Bridge Group, as well as other investors.
Tyme’s Board of Directors recommends that you vote “FOR” the proposed merger.
All Tyme stockholders of record as of the close of business on August 8, 2022 are entitled to vote at the Special Meeting.
Tyme’s stockholders are reminded that their vote is extremely important, no matter how many shares they own. To follow the recommendations of Glass Lewis, ISS and Tyme’s Board of Directors, stockholders should vote “FOR” the proposed merger and “FOR” all other matters to be voted upon at the Special Meeting.
About Tyme Technologies, Inc.
Tyme is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™) that are intended to be effective across a broad range of solid tumors and hematologic cancers, while also maintaining patients’ quality of life through relatively low toxicity profiles. Unlike targeted therapies that attempt to regulate specific mutations within cancer, Tyme’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to cause cancer cell death.