Relief Therapeutics to acquire FirstString Research

Swiss clinical-stage biotech firm Relief Therapeutics (SIX: RLF) has executed a term sheet under which it will acquire FirstString Research, headquartered in Charleston, South Carolina, USA, in an all-stock transaction

The deal is slated to bring Relief another Phase III-ready asset, Granexin (aCT1 peptide) gel for the treatment of diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs), along with a pipeline of preclinical and early-stage clinical assets based on FirstString’s pioneering characterization of the functions of connexin protein signaling. Relief Therapeutics

The envisaged transaction would involve the issuance of new shares of Relief Therapeutics Holding AG to the existing equity holders of FirstString Research, such that the existing equity holders of FirstString Research would own no less than 33% and no more than 40% of the final combined company.