On 18 July RELIEF announced that it has completed the business combination with Relief Therapeutics SA, changed its corporate name from THERAMetrics holding AG into RELIEF THERAPEUTICS Holding AG and transferred its corporate seat from Stans to Zurich. The business combination was carried out by way of a dedicated ordinary capital increase in which the former shareholders of Relief Therapeutics SA contributed all their shares and were issued, in exchange, with 1’196’937’250 new shares of RELIEF. Starting 18 July 2016, all 1’936’627’375 RELIEF THERAPEUTICS Holding AG shares are listed and freely tradable under the ticker symbol RLF on the SIX Swiss Exchange under the International Reporting Standard.
Now RELIEF announced that it has received the final cash settlement related to last month’s capital increase. Raghuram Selvaraju, Chairman, states: “Receipt of this cash commitment allows Relief to move forward with its clinical development plans and to continue its strategy of growth through strategic business combinations. In addition to the potential acquisition of FirstString Research announced last month, the company will continue efforts to leverage its proprietary DRR2.0 platform by exploring potential spin-off scenarios for its legacy drug discovery business.”
About Relief Therapeutics Holding AG RELIEF THERAPEUTICS Holding AG is a clinical stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its two most promising drug candidates are aviptadil for the treatment of sarcoidosis (already in Phase III) and low dose interleukin-6 (atexakin alfa) for the treatment of peripheral diabetic neuropathy (already in Phase II). Aviptadil development in sarcoidosis focuses the drug on an orphan disease market, in which European regulators have indicated that a single pivotal Phase III trial would be sufficient to support approval. Atexakin alfa is the subject of an exclusive worldwide development and commercialization agreement with Merck-Serono, a division of the global established pharmaceutical firm Merck KGaA, and has been the subject of multiple clinical trials and over €100 million in total capital investment. Based on its unique mechanism of action, atexakin alfa could become the first regenerative therapeutic for peripheral neuropathy. The peripheral diabetic neuropathy market is estimated to reach $4.1 billion in 2019, according to Datamonitor.