Relief Comments on Lawsuit Filed Against It by NeuroRx
GENEVA, SWITZERLAND / ACCESSWIRE / January 12, 2022 / RELIEF THERAPEUTICS Holding SA (SIX: RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) (" Relief "), a biopharmaceutical company seeking to provide patients therapeutic relief from serious diseases with high unmet need, reported today that its collaboration partner with respect to aviptadil, NeuroRx, Inc. (" NeuroRx "), has filed a lawsuit against Relief in the Supreme Court of the State of New York, County of New York. NeuroRx's complaint alleges claims against Relief for breach of the collaboration agreement between the parties, for a declaration that the collaboration agreement has been cancelled, and for defamation. Relief believes that the collaboration agreement between the parties with respect to aviptadil remains in full force and effect, and that it is NeuroRx, and not Relief, that is in breach of that agreement.
Relief notes that NeuroRx's complaint includes numerous factual statements that Relief believes to be materially inaccurate. Relief also believes that the damages calculation alleged in NeuroRx's complaint is completely Illogical and unsupported. Relief reports that the allegations in NeuroRx's complaint will be responded to in an appropriate filing with the court after NeuroRx's complaint is served on Relief. While there can be no assurance, Relief remains confident in the validity of its claims against NeuroRx and Jonathan Javitt.
Finally, Relief reports that its previously announced mediation with NeuroRx, seeking to amicably resolve the litigation between the parties, remains scheduled for late February 2022 and that, notwithstanding the filing of the new complaint, Relief intends to participate in the upcoming mediation.
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-100(TM) (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. In addition, Relief's recently completed acquisitions of APR Applied Pharma Research SA and AdVita Lifescience GmbH, bring to Relief a diverse pipeline of marketed and development-stage programs.
RELIEF THERAPEUTICS Holding SA 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 .
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RELIEF THERAPEUTICS Holding SA
Chief Financial Officer and Treasurer
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Rx Communications Group
Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning RELIEF THERAPEUTICS Holding SA. Such statements involve certain known and unknown risks, uncertainties and other factors, including (i) whether RELIEF THERAPEUTICS Holding SA will be successful in its breach of contract action against NRx's subsidiary, NeuroRx, and NeuroRx's CEO, Jonathan Javitt, and in defending NeuroRx's recently filed lawsuit, (ii) whether the mediation will be successful, and (iii) those risks discussed in RELIEF THERAPEUTICS Holding SA's press releases and filings with the SIX, which could cause the actual results, financial condition, performance or achievements of RELIEF THERAPEUTICS Holding SA to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. RELIEF THERAPEUTICS Holding SA 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.
SOURCE: Relief Therapeutics Holdings AG
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