RELIEF THERAPEUTICS Holding AG (“Relief”, “the Company”) announces that Mr Hedou and Mr Dreano have tendered their resignation as Chief Executive Officer and Chief Finance Officer of the Company with immediate effect. In order to ensure a smooth transition with a new management team to be nominated shortly by the Board of Directors, both Mr Hedou and Mr Dreano accepted to remain active, without executive responsibilities, until completion of the 2019 Annual General Meeting (2019-AGM) to support the Company in its immediate duties.
The Board of Directors is fully committed to find and hire rapidly new individual(s) to fulfill the positions left vacant and, once achieved, will promptly communicate on it.
Mr. Selvaraju comments: “I wish to thank Mr. Hedou and Mr. Dreano for their unfailing commitment as Managers and Board member of the organization through some very difficult times and I wish them all success in their upcoming carrier moves.”
RELIEF THERAPEUTICS Holding SA 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 (to enter Phase III) and low dose interleukin-6 (atexakin alfa) for the treatment of peripheral diabetic neuropathy (to enter 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 is the subject of an exclusive worldwide development and commercialization agreement with Merck KGaA, and has been the subject of multiple clinical trials. Based on its unique mechanism of action, atexakin 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.
RELIEF THERAPEUTICS Holding SA is listed on the SIX Swiss Exchange under the symbol RLF and is headquartered in Geneva, Switzerland.
This communication expressly or implicitly contains certain forward-looking statements concerning Relief Therapeutics Holding SA and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Relief Therapeutics Holding SA to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Relief Therapeutics Holding SA is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.