RLFTF - Relief to pay CHF2.8M ~150M shares as milestone as PKU GOLIKE launched in US

• Relief Therapeutics ( OTCQB:RLFTF )( OTCQB:RLFTY ) said it launched medical food product PKU GOLIKE in the U.S. for the dietary management of phenylketonuria (PKU)
• PKU is a rare inherited disorder caused by a defect in an enzyme needed to break down an amino acid called phenylalanine. This leads to build up of phenylalanine in the body when eating foods that contain protein or aspartame. The disorder inhibits proper brain development and can cause neurophysiological dysfunction.
• The U.S. launch triggers a milestone contractually agreed between Relief and the former shareholders of APR Applied Pharma Research under a June 2021 acquisition agreement, the Swiss company said in an Oct. 10 press release.
• Relief said it will pay CHF2.8M in cash and ~150M ordinary shares of Relief.
• The company added that the transaction shares will be sourced from already-issued shares constituting Relief's treasury shares reserve.
• To replenish such reserve, the board approved the issuance of 200M shares out of Relief's authorized share capital.
• The new shares are fully subscribed at par value by a wholly owned subsidiary and will be listed on the SIX Swiss Exchange around Oct. 17, the company added.

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