RELIEF THERAPEUTICS Holding SA (“Relief”, “the Company”) announces today that its major shareholder, GEM Global Yield Fund LLC SCS (“GEM”), has formally committed to amend the Share Subscription Facility (SSF) agreement signed on December 19, 2015, the original term of which extended to December 19, 2018. On the original terms, Relief had access to an aggregate amount of CHF 25’000’000 via a mechanism of drawdowns. Through this mechanism, the Company has effectively received, until now, cash injection for an aggregate amount of CHF 902’741. The remaining balance on the current SSF being hence CHF 24’097’259.

Through a formal commitment GEM agrees to amend the SSF by prolonging its original term by two (2) years until December 31, 2020. In addition, GEM committed to increase the total aggregate amount that Relief will be allowed to draw down by CHF 20’000’000 for a new total of CHF 44’097’259. The definitive amendment once signed will become an integral part of the original SSF agreement. 

About GEM

GEM (www.gemny.com) founded in 1991 is a USD 3.4 billion investment group having completed 370 transactions in 70 countries. GEM is an alternative investment group that manages diverse investment vehicles worldwide with different degrees of operational control, risk-adjusted return and liquidity profile. Our funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. GEM’s funds have included: Kinderhook Industries (GP and LP non-voting stakes), GEM Global Yield Fund LLC SCS, GEM India and VC Bank/GEM Mena Fund (GEM successfully exited both its GP and LP stakes in these funds in 2015 and 2010) and CITIC-GEM Fund (matured in December 2015).

About Relief Therapeutics Holding SA

RELIEF THERAPEUTICS Holding AG is a clinical-stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its two first candidates are Aviptadil for the treatment of sarcoidosis (to enter Phase III) and low dose interleukin-6 (Atexakin alfa) for the treatment of peripheral neuropathy (to enter Phase II). Aviptadil development in sarcoidosis addresses the 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 KGaA, The current priority indication for Atexakin is to alleviate peripheral diabetic neuropathy, a market that is estimated to reach $4.1 billion in 2019 (source Datamonitor). 

RELIEF THERAPEUTICS Holding SA is listed on the SIX Swiss Exchange under the symbol RLF and is headquartered in Geneva, Switzerland.