Operating Profit (EBIT) almost doubled: M1 Kliniken AG also grows significantly in the first half of 2024

 

• Group: sales +11.2% to EUR 167.7 million and EBIT +98.8% to EUR 14.5 million
• Earnings per share increased from EUR 0.17 to EUR 0.53
• Beauty segment: sales +30.6% and EBIT +24.3%
• Profitable growth to be continued

 

Berlin, 03.09.2024 – M1 Kliniken AG (ISIN: DE000A0STSQ8) continues to benefit from the high demand for beauty treatments and the consistent implementation of its expansion strategy. Sales and profits increased significantly in the first half of 2024. With the ‘M1 Med Beauty’ brand, the Group is the leading private provider of beauty treatments in Europe and continues to expand its market position worldwide. M1 currently operates 63 specialist medical centres for aesthetic medicine in ten countries. Three further locations are to be opened this year.

 

In the first half of 2024, the M1 Group increased consolidated sales by 11.2% from EUR 150.8 million to EUR 167.7 million. Earnings before interest and taxes (EBIT) improved from EUR 7.3 million to EUR 14.5 million, almost doubling. The Group EBIT margin increased accordingly from 4.8% to 8.6%. Net profit (after minority interests) totalled EUR 9.9 million in the first half of the year. This corresponds to an almost threefold increase compared to the same period of the previous year (H1 2023: EUR 3.4 million). Earnings per share climbed significantly from EUR 0.17 to EUR 0.53.

 

Growth continues to be driven by the core Beauty business. In the first half of the year, sales in the Beauty segment rose by 30.6% to EUR 48.6 million. EBIT improved by 24.3%, increasing to EUR 10.1 million. At 20.8%, the EBIT margin in the core segment remains above the long-term target of 20%.

 

The trading segment also continued to contribute to the growth of the M1 Group. Sales there rose from EUR 113.6 million to EUR 119.2 million. Segment EBIT increased from EUR -0.8 million to EUR 4.4 million.

 

The strong operating performance is expected to continue for the rest of the year. The Group’s aim is to develop M1 Med Beauty into the world’s leading private provider of beauty treatments in the coming years. The medium-term forecast is for M1 to operate 150 to 200 specialist medical centres for aesthetic medicine by the end of 2029. The beauty segment should thus generate revenue of between EUR 200 and 300 million with an EBIT margin of at least 20%. At the same time, a shareholder-friendly dividend policy is to be established.

 

M1 has already reported interest from private equity on several occasions this year. CEO Attila Strauss provides an update on this: ‘Following a preliminary review, six well-known private equity companies have expressed an interest in investing in or acquiring the Beauty segment and have submitted indicative offers. In principle, we are pleased about the interest and are entering into further talks with an open mind, but our focus remains clearly on independent expansion.’ In terms of shareholder value, M1 has also been examining strategic options for the trade segment for several months. A strategic investor has now shown interest in this area. However, the talks are still at an early stage.

 

About M1 Kliniken AG

M1 Kliniken AG is the leading fully integrated provider of aesthetic medical healthcare services in Europe. The Group offers products and services of the highest quality standards in the aesthetic and surgical fields. Beauty treatments are currently offered at 63 specialist centres under the ‘M1 Med Beauty’ brand. With six operating rooms and 35 beds, the “M1 Schlossklinik” for Plastic and Aesthetic Surgery in Berlin is one of the largest and most modern facilities of its kind in Europe. M1 has been driving forward its internationalisation since the end of 2018 and is currently represented in ten countries.

 

Contact

M1 Kliniken AG

Grünauer Straße 5

12557 Berlin

Telefon: +49 (0)30 34 74 74 -414

E-Mail: ir@m1-kliniken.de

 

 

Dr Matthias Evers steps down as Chief Business Officer effective 01 October 2024 Distribution of responsibilities across other Management Board functions

Hamburg, Germany, 03 September 2024:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced that its Chief Business Officer, Dr Matthias Evers, has decided to step down to pursue opportunities outside of Evotec. He will leave the Company effective 01 October 2024. Matthias was appointed Chief Business Officer of Evotec on 01 May 2022.

Prof. Dr Iris Löw-Friedrich, Chairwoman of the Supervisory Board of Evotec, said: “Over the past two-and-a-half years, Matthias has been instrumental in helping Evotec navigate challenging times. His many contributions – in particular establishing Evotec’s biologics segment Just – Evotec Biologics as well as the recovery from the cyber-attack – will have a lasting impact. On behalf of Evotec’s Supervisory Board, I would like to express our sincere gratitude to Matthias for his outstanding work over these past years. We wish Matthias every success in his future endeavours.”

Dr Matthias Evers, Chief Business Officer of Evotec SE, commented: “Thank you to my amazing colleagues across all of Evotec – the passion for medicines that matter is inspiring and the people at Evotec make all the difference. While I have chosen to pursue a new path, I wish Evotec with all colleagues long-term success which I am confident the priority reset will bring.”

Dr Christian Wojczewski, Chief Executive Officer of Evotec, added: “On behalf of the Management Board, I would like to thank Matthias for his commitment and dedication to Evotec for the past two-and-a-half years. He has shown great leadership in challenging times and his contributions will have lasting impact. On a personal note, I would like to thank Matthias for the great onboarding and his ongoing support as his responsibilities transition to other Management Board members.”

As of 01 October, the responsibilities of the CBO function will be distributed across the other Management Board functions.

 

About Evotec SE
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company’s multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec provides high value pipeline co-creating partnerships and solutions to all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 5,000 highly qualified people. The Company’s sites in Europe and the USA offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on X/Twitter @Evotec and LinkedIn.

Forward-looking statements
This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec’s securities. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “should,” “target,” “would” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec’s expectations for revenues, Group EBITDA and unpartnered R&D expenses. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

 

For further information, please contact:

Media

Gabriele Hansen
SVP Head of Global Corporate Communications
Gabriele.Hansen@evotec.com

Hinnerk Rohwedder
Director of Global Corporate Communications
Hinnerk.Rohwedder@evotec.com

Investor Relations

Volker Braun
EVP Head of Global Investor Relations & ESG
Volker.Braun@evotec.com

Press Release

Fribourg, 3 September 2024

AEVIS VICTORIA SA (AEVS.SW) – Klinik Pyramide to be integrated into Privatklinik Bethanien in Zurich

AEVIS VICTORIA SA (AEVIS) announces an organizational change at its largest investment, Swiss Medical Network. As the landlord of the Klinik Pyramide am See in Zurich needs to renovate the building from the beginning of 2025, the clinic will gradually move its activities from its current location in Zurich to the campus of Privatklinik Bethanien in Zurich. As part of this move, the operating company of Klinik Pyramide am See will also be integrated into Privatklinik Bethanien at the end of 2024. This concentration of the two traditional Zurich clinics at one location will reduce the number of facilities in the Swiss Medical Network from 21 to 20 hospitals.

The project to relocate the Klinik Pyramide to the Zürichberg has been planned over a long period of time. In order to create modern structures and efficient processes, an extension of the existing buildings of the Privatklinik Bethanien and a new building between Hinterstrasse and Restelbergstrasse are also planned. Swiss Medical Network expects that the transaction to reduce rental and administrative costs by up to CHF 2 million per year, with a correspondingly positive impact on margins.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA – Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA (80%, directly and indirectly), the only Swiss private network of hospitals present in the country’s three main language regions, MRH Switzerland AG, a luxury hotel group managing eleven luxury hotels in Switzerland and abroad, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, Swiss Hotel Properties SA, a hospitality real estate division, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.

Nyxoah Rings the Closing Bell at Nasdaq while Preparing for U.S. Market Launch of Innovative Sleep Apnea Device

FDA regulatory submission for the Company’s Genio® device is complete, U.S. approval on track for the end of 2024

U.S. commercial launch, expected at the beginning of 2025, fully funded with over €85 million in new capital raised

Mont-Saint-Guibert, Belgium – September 2, 2024 10:05pm CET / 4:05PM ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), rang the Nasdaq Closing Bell on August 29, 2024 to recognize the Company’s recent progress and highlight upcoming milestones on its path to the U.S. market launch of its innovative patient-centric Genio® hypoglossal nerve stimulation technology for OSA, a prevalent and severe sleep-related breathing disorder associated with increased mortality risk and cardiovascular comorbidities.

“We are honored to ring the Closing Bell and to celebrate our recent clinical and regulatory achievements in the U.S. We look forward with excitement to the upcoming U.S. launch of our lead product, Genio,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “The U.S. is the largest healthcare market globally and therefore of strategic importance for us. With robust clinical evidence from our pivotal DREAM study, solid funding in place and our strengthened US commercial team, we feel well positioned to enter the US market. We have submitted the final module of our PMA submission to the FDA and are on track for U.S. approval by the end of 2024. If approved, Genio could become available in the U.S. as early as the beginning of 2025.”

Recent Highlights and Upcoming Milestones of Nyxoah’s U.S. Commercialization Strategy

• Announcement of positive data from the pivotal U.S. study, DREAM, regarding Nyxoah’s Genio® system, an innovative hypoglossal neurostimulation therapy for Obstructive Sleep Apnea (OSA) in spring 2024.
• Final module submitted in the modular PMA submission, initiating FDA interactive review.
• Building a U.S. commercial organization, headed by Scott Holstine as the new Chief Commercial Officer along with key sales, marketing and market access leaders.
• The U.S. market launch of Genio® is fully funded following the successful raising of over €85 million in growth capital through a €48.5 million equity offering and a €37.5 million loan facility agreement with the European Investment Bank (EIB).
• FDA approval expected approval by US Food and Drug Administration by the end of 2024.
• U.S. market launch of Genio® planned for the beginning of 2025.

To view the broadcast of the Nasdaq Closing Bell ceremony, please visit: https://www.nasdaq.com/news-and-insights/nasdaq-stock-market-bell-ceremonies

About Nyxoah

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest. 

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please see the Company’s annual report for the financial year 2023 and visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the entry into of the loan facility agreement and the synthetic warrant agreement with the EIB; the use of proceeds from the loan facility agreement; the Genio® system and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; reporting data from Nyxoah’s DREAM U.S. pivotal trial; filing for FDA approval; and entrance to the U.S. market. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on March 20, 2024, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah
David DeMartino, Chief Strategy Officer
IR@nyxoah.com

For Media

Belgium/France
Backstage Communication – Gunther De Backer
gunther@backstagecom.be

International/Germany
MC Services – Anne Hennecke
nyxoah@mc-services.eu

Korneuburg, Austria, 02. September 2024 – Marinomed Biotech AG (the “Company”) announces that the Management Board decided today to evaluate a capital increase of up to 154,053 new shares to be issued from the Authorized Capital 2024, subject to the direct exclusion of statutory subscription rights of existing shareholders, to finance the ongoing costs in the restructuring proceedings, to finance part of the restructuring plan proposal and for costs of continuing operations. This corresponds to up to 10% of the Company’s existing share capital.

For the purpose of the evaluation, the Management Board will enter into discussions with selected investors regarding the potential transaction and the transaction documentation. The actual implementation of the capital increase depends on the outcome of these discussions and is subject to further resolution by the Management Board and approval of the Supervisory Board. In addition, the restructuring proceedings require the approval of the restructuring administrator. These approvals have not yet been obtained.

If the capital increase is implemented, the Management Board is considering a possible second capital increase of 10% of the Company’s existing share capital, with exclusion of the statutory subscription rights of existing shareholders.

+++ End of ad-hoc announcement +++ 
 

Viromed Medical AG: Successful start of trading on XETRA
 

• Listing on leading German financial market increases liquidity and expands investor base
• Aiming to expand its pioneering role in the medical use of cold plasma technology

Pinneberg, 2 September 2024 – Viromed Medical AG (Ticker: VMED; ISIN: DE000A3MQR65; “Viromed”) has reached another milestone in its capital market strategy. Following the recent uplisting to the primary market segment “Primärmarkt” of its home stock exchange in Düsseldorf, Viromed’s shares are now traded on XETRA and, in connection therewith, also on the Frankfurt Stock Exchange. Viromed expects the inclusion in the fully electronic trading system XETRA to open up a broader investor base in Germany and abroad. BankM AG acts as designated sponsor and ensures liquid trading of Viromed shares through binding buy and sell quotes.

Uwe Perbandt, CEO of Viromed Medical AG, explained: “The start of XETRA trading is a further significant step for our development on the capital market and for a growth in line with the prospects of our company. Our products in cold plasma technology are aimed at markets worth billions, in which we can revolutionize conventional treatment methods – to the benefit of patients and ultimately the entire healthcare system. As a pioneer in the spread of cold plasma technology for such medical purposes, we see great growth potential for our company in the coming years. In addition to these operational opportunities, we can increase the liquidity of our share and gain attractiveness for additional investor groups through the inclusion in XETRA trading.”

About Viromed Medical AG:

Viromed Medical AG specializes in the development, manufacture and distribution of medical products. The operating business of the company, which has been listed on the stock exchange since October 2022, focuses on the distribution of innovative cold plasma technology for medical applications via its wholly owned subsidiary Viromed Medical GmbH. Viromed can draw on a broad customer base in the DACH region, including DAX companies such as Volkswagen and Lufthansa, state and federal authorities and ministries as well as 1,100 hospitals, 7,000 pharmacies and 11,000 medical practices.

Cold atmospheric plasma (CAP) has been scientifically proven to inactivate harmful viruses, fungi and bacteria and has the potential to revolutionize conventional treatment methods in a wide variety of areas. Viromed Medical AG is doing important pioneering work in this field. The clearly superior CAP is already being used to treat difficult-to-heal wounds. Viromed is currently conducting clinical trials for use in pulmonary medicine. Viromed Medical AG is pursuing the goal of further advancing the use of CAP in medicine in the coming years and realizing the corresponding growth potential.

Contact Viromed Medical AG

Uwe Perbandt
CEO
Flensburger Strasse 18
25421 Pinneberg
Germany
Email: kontakt@viromed-medical.de
www.viromed-medical-ag.de

Relief Therapeutics Announces PKU GOLIKE Study Results Presentation at SSIEM 2024

GENEVA (SEPT. 2, 2024) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, announced today that interim data from its clinical trial evaluating PKU GOLIKE^® will be presented at the Society for the Study of Inborn Errors of Metabolism (SSIEM) 2024 Annual Symposium being held in Porto, Portugal.

The Company-sponsored, randomized, crossover, controlled study was conducted by the Inherited Metabolic Disorders Unit at Birmingham Children’s Hospital, UK. This study evaluated the benefits of PKU GOLIKE compared to standard amino acid protein substitutes in controlling overnight phenylalanine (Phe) fluctuations in the pediatric population with phenylketonuria (PKU).

An oral presentation titled “Randomized Investigation to Evaluate PHE Fluctuation After Overnight Fasting in PKU Patients Treated with Prolonged Release versus Standard Amino Acid Protein Substitute,” will be presented by Prof. Anita MacDonald, a leading dietitian in inherited metabolic disorders. Preliminary results suggest that PKU GOLIKE reduces blood phenylalanine levels and increases blood tyrosine levels overnight compared to standard amino acid protein substitutes. Should these findings be confirmed, they would demonstrate PKU GOLIKE’s enhanced ability to prevent the toxic accumulation of Phe in PKU patients during prolonged fasting periods.

Relief plans to report final and comprehensive study results following the completion of ongoing data analysis.

For more information on this study (NCT05487378), please visit clinicaltrials.gov.

ABOUT PKU GOLIKE^®
PKU GOLIKE products are Foods for Special Medical Purposes (FSMPs) for the dietary management of PKU in children and adults. Developed with Relief’s proprietary, patent-protected Physiomimic Technology™ drug delivery platform, PKU GOLIKE products are the first prolonged-release amino acid FSMPs, characterized by a special coating that ensures physiological absorption of the amino acids mirroring that of natural proteins, while also masking the unpleasant taste and odor typically associated with amino acids. PKU GOLIKE products are marketed in the U.S. by Eton Pharmaceuticals Inc. under an exclusive license and supply agreement with Relief, in key European markets by Relief, and select countries worldwide through licensing and distribution partners.

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.

CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
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 whether the final results will confirm the currently available data from the NCT05487378 study, and those described in Relief’s filings with the SIX Swiss Exchange and the U.S. Securities and Exchange Commission (SEC), could impact the outcome. 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.

Relief Therapeutics Reports Half-Year 2024 Financial Results and Provides Corporate Update

• RLF-TD011 investigator-initiated trial results for EB wound treatment anticipated in the coming weeks
• RLF-OD032 pilot PK study progresses with potential NDA filing by mid- to late 2025
• Streamlined operations and CHF 15.1 million cash reserves expected to provide funding into at least 2026

GENEVA (AUG. 30, 2024) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today reported its financial results for the half-year ended June 30, 2024, and provided a corporate update.

Relief provided updates on its key development programs and strategic initiatives, including RLF-TD011, a hypochlorous acid topical spray designed for the treatment of epidermolysis bullosa (EB), and RLF-OD032, a novel liquid formulation of sapropterin dihydrochloride for the management of phenylketonuria (PKU).

The Company reported significant financial improvements in the first half of 2024, with revenue up 85% and operating expenses down 45%, driven by strategic realignment and cost-reduction initiatives. Investments in R&D, however, were stable. Remaining debt-free, the Company expects its cash reserves of CHF 15.1 million as of August 30, 2024, and projected revenue to fund operations into at least 2026.

The Relief 2024 half-year report is available on the Company’s website.
 

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.
 

CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
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.