Relief Therapeutics Announces Conclusion of Merger Discussions with Renexxion
GENEVA, SWITZERLAND / ACCESS Newswire / March 6, 2025 /RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today announced that discussions regarding a potential merger with Renexxion, Inc. (Renexxion) have been terminated.
After signing a non-binding letter of intent in November 2024, both companies engaged in discussions to form a combined entity with an expanded therapeutic pipeline. However, key conditions necessary to finalize the transaction were not met within the required timeframe. As a result, both parties have mutually agreed to discontinue negotiations.
"While we ultimately decided not to proceed with Renexxion, Relief remains well-positioned to advance its strategic objectives independently. In recent months, we have made meaningful progress across our core development programs and continue to build momentum. With a robust pipeline and around CHF 15 million in cash reserves, along with a CHF 50 million undrawn equity facility from our largest shareholder GEM, we are confident in our ability to execute our development strategy while continuing to explore opportunities to maximize shareholder value," said Dr. Raghuram Selvaraju, chairman of the board of directors of Relief.
The Company also announced that it will provide a comprehensive business update in its 2024 Annual Report, scheduled for publication on April 10, 2025.
ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief 's portfolio includes revenue-generating products, commercialized through licensing and distribution partnerships, and a targeted clinical development pipeline. Relief 's pipeline consists of risk-mitigated assets in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. Key development programs include RLF-TD011, a stabilized hypochlorous acid solution designed to improve wound healing and infection control in epidermolysis bullosa, and RLF-OD032, a ready-to-use liquid formulation of sapropterin dihydrochloride aimed at enhancing treatment adherence in phenylketonuria patients. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.
CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com
DISCLAIMER
This press release contains forward-looking statements, which may be identified by words such as "believe," "assume," "expect," "intend," "may," "could," "will," or similar expressions. These statements are based on current plans and assumptions and are subject to risks and uncertainties that could cause actual results, financial condition, performance, or achievements to differ materially from those expressed or implied. Such factors include, but are not limited to, changes in economic conditions, market developments, regulatory changes, competitive dynamics, and other risks or changes in circumstances. This communication is provided as of the date hereof, and Relief undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE:Relief Therapeutics Holding SA
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