Vyant Bio, Inc. announced that on January 31, 2023 its Board of Directors determined it was appropriate to conduct a reduction in force as soon as practical so as to preserve cash to allow the Company, through its advisors including LifeSci Capital, to continue to pursue satisfactory strategic alternative transactions and/or execute an orderly wind down of the Company, if necessary. John A. Roberts Chief Executive Officer agreed in principle with the Company to step down from their respective positions, effective as of February 3, 2023, to preserve cash for the execution of an orderly wind down process. Mr. Roberts will remain a member of the Board of Directors of the Company.

The Company's Board of Directors has appointed Andrew D. C. LaFrence, currently the Company's Chief Financial Officer, to assume the position of Chief Executive Officer to lead the Company through this period of transition.