Relief Therapeutics, a Swiss biopharma commercializing a portfolio of drugs targeting rare diseases, announced terms for its IPO on Friday. The company is currently listed on the SIX Swiss Exchange (RLF) and the OTC (RLFTD).
The Genève, Switzerland-based company plans to raise $25 million by offering 4.2 million units at a price range of $5.50 to $6.50. Each unit consists of one ADS and one warrant to purchase three-quarters of an ADS, exercisable at 120% of the IPO price. At the midpoint of the proposed range, Relief Therapeutics would command a market value of $151 million.
Because the company plans to offer units with warrants attached, Relief Therapeutics will be excluded from Renaissance Capital's IPO stats.
Relief Therapeutics is focused on identifying, developing, and commercializing novel, patent protected products in selected specialty, rare, and ultra-rare disease areas on a global basis. The company currently focuses on three therapeutic areas: Rare Metabolic Disorders, Rare Skin Diseases, and Rare Respiratory Diseases. Relief's diversified portfolio comprises a rare disease product that is commercialized in the EU and was launched in the US in the 4Q22, as well as a pipeline of products at various stages of development.
Relief Therapeutics was founded in 2007 and booked $9 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol RLFT. H.C. Wainwright is the sole bookrunner on the deal.
