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Relief Therapeutics Holding, a biopharmaceutical company whose shares are listed on the SIX Swiss Exchange, and AdVita Lifescience, a Germany-based, privately held pharmaceutical, signed a legally binding term sheet in relation to the acquisition of all shares in AdVita in exchange for EUR 25 million of Relief common shares and, in addition, possible future contingent milestone payments of up to EUR 20 million.
Relief’s lead drug candidate RLF-100TM (Aviptadil) is currently being investigated in two U.S. clinical trials in respiratory deficiency due to Covid-19. AdVita focuses on developing effective products and strategies to improve the treatment and diagnosis of rare lung diseases and has pending intellectual property rights that cover aviptadil inhaled formulation specifications.