Aeglea BioTherapeutics, Inc. (Nasdaq:AGLE), a clinical-stage biotechnology company developing a new generation of human enzyme therapeutics as innovative solutions for rare metabolic diseases, today announced a proposed underwritten public offering in which it intends to offer and sell shares of its common stock and, in lieu of common stock, to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. Aeglea expects to grant the underwriters a 30-day option to purchase additional shares of common stock. All of the securities are being offered by Aeglea. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

JonesTrading Institutional Services LLC and LifeSci Capital LLC are acting as joint book-running managers in the offering.

Aeglea intends to use the net proceeds from the offering, together with its existing cash resources, to fund its ongoing Biologics License Application submission activities for pegzilarginase and its potential commercialization in the United States, complete its ongoing Phase 1/2 clinical trial of AGLE-177 and prepare for a potential pivotal study in Homocystinuria, advance AGLE-325 for Cystinuria through IND-enabling studies, and the remainder to fund continued research and development, manufacturing, working capital and general corporate purposes.

The securities are being offered by Aeglea pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC). The offering will be made only by means of the written prospectus and prospectus supplement that forms a part of the registration statement. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus may also be obtained, when available, from JonesTrading Institutional Services LLC at This email address is being protected from spambots. You need JavaScript enabled to view it. or LifeSci Capital LLC at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Aeglea, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Aeglea BioTherapeutics

Aeglea BioTherapeutics is a clinical-stage biotechnology company redefining the potential of human enzyme therapeutics to benefit people with rare metabolic diseases with limited treatment options. In December 2021, Aeglea announced positive topline data from its PEACE Phase 3 clinical trial for its lead product candidate, pegzilarginase, in patients with Arginase 1 Deficiency. Pegzilarginase has received both Rare Pediatric Disease and Breakthrough Therapy designations. Aeglea also has an ongoing Phase 1/2 clinical trial of AGLE-177 for the treatment of Homocystinuria. AGLE-177 has been granted Rare Pediatric Disease Designation. Aeglea has an active discovery platform focused on engineering small changes in human enzymes to have a big impact on the lives of patients and their families.

Safe Harbor / Forward Looking Statements

This press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what Aeglea expects. Examples of forward-looking statements include, among others, statements Aeglea makes regarding its intention to conduct an offering and sale of securities, ability to complete the offering and expected use of proceeds. Further information on potential risk factors that could affect Aeglea's business and its financial results are detailed in Aeglea's most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC, and other reports filed with the SEC. Aeglea undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.