Swiss biotech Relief Therapeutics is slated to enter a reverse merger with private U.S. biotech Renexxion and forge ahead with the latter’s gastrointestinal (GI) pipeline. Rare disease-focused Relief would combine with California-based Renexxion, and the newly merged biotech would trade on the SIX Swiss Exchange and be quoted on the U.S.’s OTCQB, according to the terms of the proposal shared Nov. 4. The initial merger would allocate about 72% ownership to Renexxion shareholders and 28% to Relief shareholders, a ratio based on valuations of each biotech’s equity interests.
Read the full article: Swiss Biotech Inks Reverse Merger with GI-Focused Renexxion //
Source: https://www.fiercebiotech.com/biotech/swiss-biotech-inks-reverse-merger-us-biotech-advance-gi-pipeline