Relief Therapeutics and NRx Pharmaceuticals settle pending litigation

Switzerland’s Relief Therapeutics (SIX: RLF) was up 6.5% this morning after it announced definitive settlement agreements with NRx Pharmaceuticals (Nasdaq: NRXP) to resolve their pending litigation. NRx Pharmaceuticals’ shares, which leapt 13.3% on Friday, were up a further 3% to $1.03 pre-market today.

As part of the settlement, at a closing to be held within the next 30 days, NRx Pharmaceuticals will transfer to Relief all of the assets that it previously used in its aviptadil development program, including its regulatory filings, patent applications, clinical data, and the formulation of the aviptadil product it was previously developing.

Under the terms of the deal, Relief will have the exclusive right and control going forward and the obligation to use commercially reasonable efforts to develop and commercialize an aviptadil product.