RELIEF THERAPEUTICS Holding SA (“Relief”, “the Company”) announces today that, as anticipated in August, Relief and its major shareholder GEM Global Yield Fund LLC SCS (“GEM”) have agreed on an amendment to the Share Subscription Facility (SSF) agreement signed on December 19, 2015. Under the amended terms, that validity of the agreement has now been prolonged until December 31, 2020 instead of December 18, 2018. In addition, the amendment increases the aggregated amount of CHF 25’000’000 accessible to Relief via a mechanism of drawdowns by another CHF 20’000’000 for a new total of CHF 45’000’000. As Relief has effectively drawn down a total amount of CHF 902’741 on the SSF to date, the remaining balance still available to be drawn down for Relief totals CHF 44’097’259.
Depending on the customary terms of the SSF, draw downs will be issued from time to time by the management, and the funds obtained will then be used for Relief’s expenses relating to its development programs and for general corporate purposes.
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 SA 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). In addition to these initial drug candidates, Relief has initiated a strategic collaboration with Genclis in April 2018 in order to co-develop and commercialize products arising from the disruptive technology developed by Genclis.
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.