Vischer: Relief Therapeutics launches Level 1 ADR Program in the U.S.

Relief Therapeutics, a biopharmaceutical company, has launched a Level 1 American Depositary Receipt (“ADR”) program in the United States. From 18 November 2021, ADRs can be traded over-the-counter. Relief’s ADR program complements the existing main listing of the shares on the SIX Swiss Exchange. J.P. Morgan has been appointed as the depositary bank for the Level 1 ADR program.

Vischer advised Relief on the Swiss legal aspects of the ADR programme. The team, led by partner Robert Bernet (corporate/m&a), included counsel Peter Kühn (corporate/m&a), senior associate Christian Schneiter (corporate/m&a) and partner Christoph Niederer (tax).

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