Geneva, Switzerland, 7 October 2017
RELIEF THERAPEUTICS Holding SA (“Relief”, “the Company”) announces that yesterday, GEM Global Yield Fund LLC SCS (“GEM”) has exercised 10’000’000 of its warrants for a total of CHF 100’000.
Relief issued earlier this year 600 million warrants to GEM, currently Company’s largest shareholder, following its latest investment round. By exercising part of these warrants, GEM continues to support Relief’s day-to-day activities.
The Company will nevertheless maintain the cost-cutting measures that it took earlier this year and will reinforce its efforts to out-license aviptadil, one of its most promising drug candidates, to be tested in phase III for the orphan indication sarcoidosis.
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).
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 (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 alfa 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 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.
RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF and is headquartered in Geneva, Switzerland.
For further information, please visit the Relief website at www.relieftherapeutics.com or contact investor relations.
This communication expressly or implicitly contains certain forward-looking statements concerning Relief Therapeutics Holding AG 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 AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Relief Therapeutics Holding AG 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.