Relief Therapeutics Provides an Update on its Financing Strategy

GENEVA, SWITZERLAND / ACCESSWIRE / February 8, 2023 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) (Relief Therapeutics), today provided an update on its financing strategy and the decision to voluntarily withdraw its Registration Statement on Form F-1 initially filed with the United States Securities and Exchange Commission (SEC) on Aug. 23, 2022 in order to explore alternative options for financing, including non-dilutive sources of capital, with the goal of listing its ordinary shares on the Nasdaq Stock Market.

Foto: Accesswire

In January 2023, changes to Swiss corporate law became effective allowing Swiss companies to reverse split their ordinary shares. Relief Therapeutics' board of directors will propose to shareholders to approve a reverse split of the Company's ordinary shares at a still to be determined ratio. An Extraordinary General Meeting (EGM) will be convened once ongoing preparations are in place. If the reverse split is completed successfully, Relief Therapeutics will file an application to list its ordinary shares on the Nasdaq Stock Market instead of its American depository shares (ADSs).

"Working with the Swiss and U.S. regulators, we believe efforts to complete a reverse split and then list our ordinary shares on the Nasdaq will positively benefit our shareholders, complementing our current primary listing of ordinary shares on the SIX Swiss Exchange," said Jack Weinstein, chief executive officer, Relief Therapeutics. "The current number of outstanding shares is in part the result of successive reverse mergers over the life of Relief's underlying listed vehicle. The reverse split will reduce the number of outstanding shares and is expected to increase the shares' attractiveness for investors while boosting the Company's public image."

About Relief Therapeutics

Relief Therapeutics is a Swiss, commercial-stage, biopharmaceutical company focused on identification, development and commercialization of novel, patent protected products intended for the treatment of rare and ultra-rare diseases including metabolic disorders, pulmonary diseases and connective tissue disorders. Relief Therapeutics' diversified pipeline consists of assets that have the potential to effectively address significant unmet medical needs, including PKU GOLIKE ^® , engineered with the proprietary Physiomimic™ technology, which is the first prolonged-release amino acid product commercialized for the dietary management of phenylketonuria (PKU). Relief Therapeutics has a collaboration and license agreement with Acer Therapeutics for the worldwide development and commercialization of Olpruva™ (sodium phenylbutyrate) for the treatment of various inborn errors of metabolism, including urea cycle disorders (UCDs) and maple syrup urine disease (MSUD). Relief Therapeutics also continues to develop aviptadil for several rare pulmonary indications. Further, Relief Therapeutics is undertaking the clinical development of RLF-TD011, a differentiated acid oxidizing solution of hypochlorous acid intended for the treatment of epidermolysis bullosa (EB), a group of rare, genetic, life-threatening connective tissue disorders; RLF-TD011 has been granted Orphan Drug designation by the U.S. FDA. Finally, Relief Therapeutics is commercializing several legacy products via licensing and distribution partners.