UK markets close in 57 minutes
  • FTSE 100

    7,021.66
    +73.67 (+1.06%)
     
  • FTSE 250

    22,208.63
    +41.49 (+0.19%)
     
  • AIM

    1,233.66
    -2.00 (-0.16%)
     
  • GBP/EUR

    1.1670
    +0.0032 (+0.28%)
     
  • GBP/USD

    1.4097
    -0.0047 (-0.33%)
     
  • BTC-GBP

    40,271.52
    +613.13 (+1.55%)
     
  • CMC Crypto 200

    1,542.10
    -21.73 (-1.39%)
     
  • S&P 500

    4,107.46
    -44.64 (-1.08%)
     
  • DOW

    33,970.30
    -298.86 (-0.87%)
     
  • CRUDE OIL

    66.55
    +1.27 (+1.95%)
     
  • GOLD FUTURES

    1,831.80
    -4.30 (-0.23%)
     
  • NIKKEI 225

    28,147.51
    -461.08 (-1.61%)
     
  • HANG SENG

    28,231.04
    +217.23 (+0.78%)
     
  • DAX

    15,199.96
    +80.21 (+0.53%)
     
  • CAC 40

    6,289.42
    +22.03 (+0.35%)
     

Relief Reports 2020 Financial Results and Provides Business Update

  • Oops!
    Something went wrong.
    Please try again later.
·10-min read
  • Oops!
    Something went wrong.
    Please try again later.

EQS Group-News: RELIEF THERAPEUTICS Holdings AG / Key word(s): Annual Results
15.04.2021 / 07:00

Relief Reports 2020 Financial Results and Provides Business Update

Geneva, Switzerland, April 15, 2021 - RELIEF THERAPEUTICS Holding AG (SIX: RLF, OTCQB: RLFTF) ("Relief" or the "Company"), a biopharmaceutical company with its lead compound RLF-100TM (aviptadil) in advanced clinical development to treat COVID-19 induced lung injury, today announced its 2020 financial results for the year ended December 31, 2020 and provided a business update.

"The past year has been an incredibly productive and rewarding one for all of us at Relief," said Raghuram (Ram) Selvaraju, Chairman of the Board. "We have had an opportunity to make a true difference in fighting the ongoing COVID-19 pandemic with the development of RLF-100(TM) to treat critically ill patients. With the goal of bringing this potential treatment to patients as expeditiously as possible, we entered into important partnerships and made key hires, adding executives to our team who have strong expertise in important areas such as clinical development, regulatory and commercialization."

He continued: "Critical for the future growth of our Company, we also have taken a very important first step to broaden our development pipeline. We entered into a collaboration and license agreement for ACER-001, a compound in late-stage development for orphan diseases where patients are in need of better treatment options. We plan to continue to advance the development of our current programs and further grow our pipeline in the year ahead. I am excited about Relief's future as we work to provide patients with therapeutic relief in serious diseases with high unmet medical need."

Recent Key Development and Corporate Highlights:

Clinical Development Highlights (RLF-100)

Corporate Highlights

Financial Highlights

2020

Post reporting period

Jack Weinstein, Chief Financial Officer and Treasurer of Relief, commented: "Relief is not the same company it was a month ago, let alone a year ago. Through exercising flexible financing tools, which allows the Company to support ongoing clinical development of RLF-100, ACER-001 and its pipeline expansion strategy, we have developed a cash runway that will see us well into 2022. I remain excited about meeting the challenges of growing a biopharmaceutical company with a very bright future."

Outlook for 2021:

Relief expects to make continued progress with its development programs and in advancing its business in the months ahead.

Pipeline

Looking first to RLF-100 (IV), as our partner NeuroRx executes plans to file for EUA for the treatment of critically ill patients with COVID-19, followed by an NDA, Relief is preparing for clinical assessment and potential commercialization in Europe and other territories. Once Relief has received and analyzed the full data set from the U.S. phase 2b/3 trial, the Company will decide on the best path forward for the development of RLF-100 in Europe and other territories.

Turning to RLF-100 (inhaled), the acquisition of AdVita is expected to close in Q2 2021. Additionally, Relief is hopeful that its partner NeuroRx will have results from the ongoing U.S. phase 2b/3 trial evaluating inhaled RLF-100 in H2 2021.

Our second late-stage program in collaboration with Acer Therapeutics for ACER-001 is expected to progress quickly in 2021. A pre-NDA meeting is scheduled to occur between Acer and the FDA in Q2 2021 to discuss the results of the clinical study of ACER-001 in UCDs. Provided no additional data are requested by FDA during the meeting and ongoing development activities are successfully completed, Acer expects to submit a 505(b)(2) NDA for ACER-001 for the treatment of UCDs in mid-2021, with a potential regulatory decision in H1 2022. Relief plans to initiate discussions with European regulatory authorities regarding ACER-001 in UCDs in Q3 2021. Clinical studies in MSUD could start later in 2021.

Relief plans to continue its strategy to aggressively pursue opportunities to expand its pipeline with attractive late-stage clinical assets that would drive the evolution of the Company into a mature, diversified biopharmaceutical company.

Corporate

Adding expertise by hiring personnel and consultants will continue in an effort to match the Company's pace of development.

Throughout 2021 Relief will continue to evaluate and take steps to facilitate interest from institutional investors. In addition, the Company expects to "up list" to a major U.S. stock exchange in the coming months.

Relief's 2020 Annual Report is available for download at https://relieftherapeutics.com/investor-relations.

###

ABOUT RELIEF THERAPEUTICS HOLDING AG
Relief focuses primarily on clinical-stage programs based on molecules with a history of clinical testing and use in human patients or a strong scientific rationale. Relief's lead drug candidate RLF-100TM (aviptadil), a synthetic form of Vasoactive Intestinal Peptide (VIP), is in late-stage clinical testing in the U.S. for the treatment of respiratory deficiency due to COVID-19. As part of its pipeline diversification strategy, in March 2021, Relief entered into a Collaboration and License Agreement with Acer Therapeutics for the worldwide development and commercialization of ACER-001. ACER-001 is a taste-masked and immediate release proprietary powder formulation of sodium phenylbutyrate (NaPB) for the treatment of Urea Cycle Disorders and Maple Syrup Urine Disease.

RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbol RLFTF. For more information, visit www.relieftherapeutics.com.

Follow us on LinkedIn

CONTACT
RELIEF THERAPEUTICS Holding AG

Raghuram (Ram) Selvaraju, Ph.D., MBA                              
Chairman of the Board
Mail: contact@relieftherapeutics.com

FOR MEDIA/INVESTOR INQUIRIES:
MC Services AG

Anne Hennecke / Brittney Sojeva
Tel.: +49 (0) 211-529-252-14
Mail: relief@mc-services.eu


Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning RELIEF THERAPEUTICS Holding AG and its businesses. The results reported herein may or may not be indicative of the results of future and larger clinical trials for ACER-001 for the treatment of UCDs and MSUD, nor whether the ongoing clinical trials of Relief's lead compound, RLF-100(TM) (aviptadil) in advanced clinical development to treat respiratory deficiency due to COVID-19, will be successful. 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 AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. RELIEF THERAPEUTICS 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.


End of Media Release

Language:

English

Company:

RELIEF THERAPEUTICS Holdings AG

Avenue de Sécheron 15

1202 Genève

Switzerland

E-mail:

contact@relieftherapeutics.com

Internet:

https://relieftherapeutics.com

ISIN:

CH0100191136

Listed:

SIX Swiss Exchange

EQS News ID:

1184903


 

End of News

EQS Group News Service

show this
show this