EQS-News

Relief and Applied Pharma Research (APR) Sign Binding Term Sheet for Relief to Acquire All Outstanding Shares of APR

EQS Group-News: RELIEF THERAPEUTICS Holdings AG / Key word(s): Acquisition Relief and Applied Pharma Research (APR) Sign Binding Term Sheet for Relief to Acquire All Outstanding Shares of APR 04.05.2021 / 07:00 Relief and Applied Pharma Research (APR) Sign Binding Term Sheet for Relief to Acquire All Outstanding Shares of APR

Acquisition would further diversify Relief's pipeline with both commercial products and clinical-stage programs

Geneva and Balerna, Switzerland, May 4, 2021 - RELIEF THERAPEUTICS Holding AG (SIX: RLF, OTCQB: RLFTF)("Relief"), a biopharmaceutical company with its lead compound RLF-100^TM (aviptadil) in advanced clinical development to treat COVID-19-induced lung injury, and APR Applied Pharma Research S.A. ("APR"), a privately held Swiss pharmaceutical company with over 25 years' experience in identifying, developing and commercializing known molecules engineered with drug delivery systems in niche and rare diseases on a global basis, today announced that the companies have signed a binding term sheet ("Term Sheet") for Relief to acquire all outstanding shares of APR.

According to the Term Sheet, the APR shareholders will receive from Relief at the closing of a signed transaction, CHF 22 million in cash, plus additional cash relating to APR's working capital position at time of close, and CHF 50 million payable in Relief common registered shares. The APR shareholders are also eligible to receive additional contingent payments in the form of a combination of cash and Relief common registered shares upon achievement of pre-agreed contingent milestones. In addition, as part of the transaction, an individual to-be-named will stand for election as APR's designee at Relief's Annual General Meeting of Shareholders scheduled for June 18, 2021. For a period of 60 days, Relief has the exclusive right to negotiate and close the transaction on the basis of the terms and conditions in the signed Term Sheet. Further details are not being disclosed at this time. The acquisition of APR is expected to be immediately accretive to Relief's earnings and should provide Relief with a reliable platform for future growth, including established commercial infrastructure that will facilitate future therapeutic product launches in key European markets.