Relief Therapeutics Holding AG’s CHF 10 Million Shares Private Placement

Relief Therapeutics Holding AG's CHF 10 Million Shares Private Placement

Pestalozzi advised H.C. Wainwright LLC, as sole placement agent for the offering, while VISCHER advised Relief regarding the Swiss legal aspects of this transaction.

RELIEF THERAPEUTICS Holding AG, a biopharmaceutical company with its lead compound RLF-100TM (aviptadil) in advanced clinical development to treat severe COVID-19 patients, announced that it has entered into a definitive agreement with a single healthcare-dedicated U.S. institutional investor to purchase in a private placement 41,459,370 of Relief common stock at a purchase price of CHF 0.2412 per share.

The aggregate gross proceeds from the private placement are expected to be approximately CHF 10 million, before deducting the placement agent fees and offering expenses payable by Relief. The private placement offering is expected to close on or about March 16, 2021, subject to the satisfaction of customary closing conditions.

Relief plans to use the net proceeds from the private placement to acquire additional assets to expand and diversify Relief’s drug pipeline and for general corporate purposes.

The private placement shares, trading on the SIX Swiss Exchange and ranking pari passu (carrying the same rights) with Relief’s existing shares, were delivered from Relief’s treasury shares that were issued out of its authorized share capital under exclusion of the existing shareholders’ pre-emptive rights.

Relief focuses primarily on clinical-stage programs based on molecules of natural origin (peptides and proteins) with a history of clinical testing and use in human patients or a strong scientific rationale. Currently, Relief is concentrating its efforts on developing new treatments for respiratory disease indications. Its lead drug candidate RLF-100™ (aviptadil) is being investigated in two placebo-controlled U.S. late-stage clinical trials in respiratory deficiency due to COVID-19. Relief holds a patent issued in the United States and various other countries covering potential formulations of RLF-100™.

The Pestalozzi team was led by Christian Leuenberger (Picture), and also included Severin Roelli and Manu Ferro.

The VISCHER team led by partner Dr. Robert Bernet, comprised Dr. Peter Kühn and Christian Schneiter.

Involved fees earner: Manu Ferro – Pestalozzi; Christian Leuenberger – Pestalozzi; Severin Roelli – Pestalozzi; Robert Bernet – VISCHER AG; Peter Kühn – VISCHER AG; Christian Schneiter – VISCHER AG;

Law Firms: Pestalozzi; VISCHER AG;

Clients: H.C. Wainwright & Co.; Relief Therapeutics;

Author: Federica Tiefenthaler