THERAMetrics holding AG (“THERAMetrics” or “the Company”) announces today that it has entered into a share purchase agreement for the sale of THERAMetrics Clinical Supply Services s.r.l. (“CSS Italy”), its Italian IMP manufacturing and logistics subsidiary, to its shareholder Fin Posillipo S.p.A. The sale of CSS Italy occurs in connection with the sale of the Company’s CRO subsidiaries in Italy, Germany and Romania (the “CRO Subsidiaries”) to Accelovance Inc. that was announced on 25 May 2016. CSS Italy is being sold for a cash consideration that the Company will use to provide additional capitalization to the CRO Subsidiaries, a condition precedent for the consummation of the sale of the CRO Subsidiaries to Accelovance Inc. The sale of CSS Italy is yet another major step towards the divestiture of the Company’s CRO activities that was announced at the end of 2015 and towards the re-positioning of the Company as a drug development company focusing on clinical stage projects. The next important step for the Company’s re-positioning will be the business combination with Relief Therapeutics SA, which was approved by the Company’s shareholders at the recent annual shareholders meeting.
Therametrics holding AG is a clinical stage biotechnology company with a portfolio of drug candidates focusing on clinical stage projects of natural human origins. The company is listed on the SIX Swiss Exchange under the symbol TMX and is headquartered in Stans, Switzerland.
Relief is a clinical stage biotechnology company incorporated in May 2013 by three former employees of Merck KGaA. The company will develop innovative treatments to address high unmet medical needs. Its most advanced program aims at providing a cure for the affections associated with degeneration of the peripheral nervous system (neuropathy).
Dr. Raghuram Selvaraju
+41 44 723 59 59
This communication expressly or implicitly contains certain forward-looking statements concerning THERAMetrics 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 THERAMetrics holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THERAMetrics 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.