Relief Therapeutics Secures up to $11 Million from Royalty Sales
Relief Therapeutics has secured up to $11 million in non-dilutive funding through the sale of royalty interests to SWK Funding The deal includes $5.75 million upfront and $5.25 million in potential milestone payments. The funds will support the development of RLF-TD011, a topical spray for epidermolysis bullosa, and other pipeline advancements.
The agreement covers royalties from OLPRUVA, GOLIKE, and CAMBIA. Relief retains significant upside potential, with SWK returning 80% of OLPRUVA royalties over $2.25 million annually and all royalties over $4.5 million. For GOLIKE, SWK will return 80% of royalties over $1.32 million annually and all over $1.98 million. The deal terminates when SWK receives 2.75 times its invested capital.
Relief Therapeutics ha ottenuto fino a 11 milioni di dollari in finanziamenti non diluitivi attraverso la vendita di interessi di royalty a SWK Funding. L'accordo prevede 5,75 milioni di dollari iniziali e 5,25 milioni di dollari in potenziali pagamenti legati a traguardi. I fondi supporteranno lo sviluppo di RLF-TD011, uno spray topico per l'epidermolisi bollosa, e altre innovazioni in pipeline.
L'accordo copre le royalty da OLPRUVA, GOLIKE e CAMBIA. Relief conserva un notevole potenziale di crescita, con SWK che restituisce l'80% delle royalty di OLPRUVA superiori a 2,25 milioni di dollari all'anno e tutte le royalty superiori a 4,5 milioni. Per GOLIKE, SWK restituirà l'80% delle royalty che superano 1,32 milioni di dollari all'anno e tutte quelle superiori a 1,98 milioni. L'accordo termina quando SWK riceve 2,75 volte il capitale investito.
Relief Therapeutics ha asegurado hasta 11 millones de dólares en financiamiento no dilutivo a través de la venta de intereses de regalías a SWK Funding. El acuerdo incluye 5,75 millones de dólares por adelantado y 5,25 millones de dólares en pagos potenciales por hitos. Los fondos apoyarán el desarrollo de RLF-TD011, un spray tópico para la epidermólisis bullosa, y otros avances en la pipeline.
El acuerdo cubre regalías de OLPRUVA, GOLIKE y CAMBIA. Relief retiene un alto potencial, con SWK devolviendo el 80% de las regalías de OLPRUVA superiores a 2,25 millones de dólares anuales y todas las regalías que superan los 4,5 millones. Para GOLIKE, SWK devolverá el 80% de las regalías que superen 1,32 millones de dólares anuales y todas las que sobrepasan 1,98 millones. El acuerdo termina cuando SWK recibe 2,75 veces su capital invertido.
Relief Therapeutics는 SWK Funding에 로열티 이자를 판매하여 최대 1100만 달러의 비희석 자금을 확보했습니다. 이 거래에는 575만 달러의 선급금과 525만 달러의 잠재적 이정표 지급금이 포함되어 있습니다. 이 자금은 피부 박리증을 위한 국소 스프레이인 RLF-TD011의 개발과 다른 파이프라인의 발전을 지원할 것입니다.
계약은 OLPRUVA, GOLIKE 및 CAMBIA에서 발생하는 로열티를 포함합니다. Relief는 225만 달러 연간 초과 OLPRUVA 로열티의 80%와 450만 달러 초과의 모든 로열티를 SWK가 반환하도록 보장하며, GOLIKE의 경우 SWK는 매년 132만 달러 초과 로열티의 80%와 198만 달러 초과의 모든 로열티를 반환합니다. SWK가 투자된 자본의 2.75배를 받을 때 계약이 종료됩니다.
Relief Therapeutics a sécurisé jusqu'à 11 millions de dollars de financement non dilutif grâce à la vente d'intérêts de redevances à SWK Funding. L'accord comprend 5,75 millions de dollars en avance et 5,25 millions de dollars de paiements potentiels liés à des étapes. Les fonds serviront à soutenir le développement de RLF-TD011, un spray topique pour l'épidermolyse bulleuse, ainsi que d'autres avancées dans le pipeline.
Le contrat couvre les redevances de OLPRUVA, GOLIKE et CAMBIA. Relief conserve un potentiel d'appréciation significatif, SWK retournant 80% des redevances d'OLPRUVA dépassant 2,25 millions de dollars par an et toutes les redevances dépassant 4,5 millions. Pour GOLIKE, SWK restituera 80% des redevances dépassant 1,32 millions de dollars par an et toutes celles dépassant 1,98 millions. L'accord prend fin lorsque SWK reçoit 2,75 fois son capital investi.
Relief Therapeutics hat bis zu 11 Millionen Dollar an nicht verwässernden Mitteln durch den Verkauf von Lizenzrechten an SWK Funding gesichert. Der Vertrag umfasst 5,75 Millionen Dollar im Voraus und 5,25 Millionen Dollar an potenziellen Meilensteinzahlungen. Die Mittel werden die Entwicklung von RLF-TD011, einem topischen Spray gegen Epidermolysis bullosa, und andere Fortschritte in der Pipeline unterstützen.
Die Vereinbarung umfasst Lizenzgebühren von OLPRUVA, GOLIKE und CAMBIA. Relief behält ein erhebliches Potenzial, da SWK 80% der Lizenzgebühren von OLPRUVA über 2,25 Millionen Dollar jährlich sowie alle Lizenzgebühren über 4,5 Millionen Dollar zurückgibt. Für GOLIKE wird SWK 80% der Lizenzgebühren über 1,32 Millionen Dollar jährlich und alle über 1,98 Millionen Dollar zurückgeben. Der Vertrag endet, wenn SWK das 2,75-Fache seines investierten Kapitals erhält.
- Secured up to $11 million in non-dilutive funding
- Received $5.75 million upfront payment
- Potential for additional $5.25 million in milestone payments
- Retains significant upside potential in royalty returns
- Funding supports clinical development of RLF-TD011 and pipeline advancement
- Sale of future royalty interests from OLPRUVA, GOLIKE, and CAMBIA
- Milestone payments dependent on product performance and regulatory approvals
Non-dilutive funding to support RLF-TD011 clinical development and pipeline advancement
GENEVA, SWITZERLAND / ACCESSWIRE / August 5, 2024 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF)(OTCQB:RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today announced the signing and closing of a definitive agreement with SWK Funding LLC (SWK), a wholly-owned subsidiary of SWK Holdings Corporation, for the sale of royalty interests in OLPRUVA®, GOLIKE® and CAMBIA® in exchange for up to U.S.
The transaction provides the Company with non-dilutive funding to advance its pipeline, including the clinical development of its patent-protected hypochlorous acid topical spray, RLF-TD011, for treating epidermolysis bullosa. The funding will also be used for working capital and general corporate purposes.
Under the terms of the agreement, Relief received
SWK acquired all future OLPRUVA royalties from Relief's August 2023 agreement with Acer Therapeutics Inc. (Acer), a wholly-owned subsidiary of Zevra. Neither SWK nor Relief are entitled to any future royalties associated with arimoclomol from Acer. Additionally, SWK acquired all future royalties and milestone payments from the March 2024 license agreement with Eton Pharmaceuticals Inc. for the commercialization of the GOLIKE product family in the United States. Relief retains significant upside potential, with SWK returning to Relief
ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief's portfolio offers a balanced mix of marketed, revenue-generating products, proprietary, globally patented TEHCLO™ and Physiomimic™ platform technologies and a targeted clinical development pipeline consisting of risk-mitigated assets focused in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. In addition, Relief is commercializing several legacy products via licensing and distribution partners. Headquartered in Geneva, Relief 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.
ABOUT SWK
SWK Holdings Corporation (SWKH.OB) is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK's solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases. Additional information on SWK is available www.swkhold.com.
CONTACT :
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
contact@relieftherapeutics.com
DISCLAIMER
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, including its ability to achieve its corporate, development and commercial goals, and other factors which could cause the actual results, financial condition, performance or achievements of Relief to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A number of factors, including those described in Relief's filings with the SIX Swiss Exchange and the U.S. Securities and Exchange Commission (SEC), could adversely affect Relief. Copies of Relief's filings with the SEC are available on the SEC EDGAR database at www.sec.gov . Relief does not undertake any obligation to update the information contained herein, which speaks only as of this date.
Additional features:
File: Ad hoc
SOURCE: Relief Therapeutics Holdings AG
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FAQ
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