Relief Therapeutics and Renexxion Consider Reverse Merger

Relief Therapeutics Holding SA announced a non-binding letter of intent for a reverse merger with Renexxion, Inc., a clinical-stage biotechnology company focused on gastrointestinal disorders. The merger aims to create a combined entity with an enhanced therapeutic pipeline targeting unmet healthcare needs globally.

If completed, this merger will leverage combined resources and expertise, enhancing competitive positioning in the biotech sector. The merger is expected to provide new growth opportunities, boost shareholder value, and hasten the delivery of innovative therapies.

Dr. Raghuram Selvaraju, Relief's chairman, expressed confidence in the merger, highlighting its potential to build a more resilient and innovative business. Dr. Peter G. Milner, CEO of Renexxion, emphasized the transformative potential in gastrointestinal health care, focusing on their lead compound, naronapride.

The merger will involve Relief acquiring Renexxion's shares in exchange for newly issued shares, subject to various conditions. The ongoing negotiations aim to finalize the merger agreement by December 31, 2024.