Item 7.01 Regulation FD Disclosure.
OnJanuary 4, 2021 ,Sio Gene Therapies Inc. (the "Registrant") issued a press release announcing that it has agreed to sell its equity stake in Arvelle Therapeutics ("Arvelle") to Angelini Pharma, as part of that company's cash acquisition of 100% of the outstanding equity of Arvelle for up to$960 million (the "Transaction"). A copy of this press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference. The disclosures set forth in this Item 7.01 and Exhibit 99.1 to this report are furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section. The information contained in this Item 7.01 and Exhibit 99.1 to this report shall not be deemed incorporated by reference into any other filing with theSEC made by us, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Item 8.01 Other Events. OnJanuary 4, 2021 , the Registrant agreed to sell its equity stake in Arvelle to Angelini Pharma, as part of the Transaction. The Transaction is expected to close during the first calendar quarter of 2021, subject to the satisfaction of customary closing conditions. The Registrant expects to receive an upfront cash payment of$11.8 million with up to an additional$8.2 million in potential regulatory and sales milestone payments, totaling up to approximately$20.0 million in the Transaction. These proceeds represent a substantial gain on the Registrant's initial investment in Arvelle but are not expected to result in any income tax liabilities. This infusion along with the Registrant's cash on hand atDecember 31, 2020 are expected to support the development of the Registrant's three clinical-stage development programs into calendar year 2022.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. EXHIBIT INDEX Exhibit No. Description of Document 99.1 Press Release of Sio Gene Therapies Inc. ,
dated January 4, 2021 .
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