Geneva (Switzerland), July 16, 2020. RELIEF THERAPEUTICS Holding SA (SIX:RLF) (“Relief” or the “Company“) announces that it has entered into a binding agreement (the “Agreement”) with Gem Global Yield Fund LLC (“GEM”), the largest single shareholder in RLF, relating to an outstanding debt position in a total amount of CHF 1’723’300 that is repayable on demand. Under the terms of this Agreement, RLF and GEM have agreed on the redemption of the outstanding CHF 1’723’300 debt position in newly issued RLF Shares.
The attribution price corresponds to CHF 0.0297, representing a 10% discount to the closing price of the trading of the RLF Shares on SIX Swiss Exchange on 14 July 2020 of CHF 0.033. As a result, GEM will be receiving receive 58’023’584 RLF Shares at closing of the transaction, issued from existing authorized capital of the company. Closing of the transaction is expected to occur by the end of July 2020.
RELIEF THERAPEUTICS Holding SA is a clinical stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its most promising drug candidate is Aviptadil, alias vasoactive intestinal peptide, for the treatment of Acute Respiratory Distress Syndrome (ARDS) and pulmonary sarcoidosis. With the support of its American partner NeuroRx, RELIEF THERAPEUTICS Holding SA is testing Aviptadil in two phase II/III trials on COVID-induced ARDS19 (NCT04311697 and NCT04360096). Aviptadil development in pulmonary sarcoidosis will focus on chronic sarcoidosis, an orphan disease market.
RELIEF THERAPEUTICS Holding SA is listed on the SIX Swiss Exchange under the symbol RLF.
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.