RELIEF THERAPEUTICS Holding SA
Climate Impact & Sustainability Data (2013, 2021, 2023, 2023-01 to 2023-06)
Reporting Period: 2013
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- The Company incurred a net loss of EUR 9.971 million in 2013 and had limited cash reserves (EUR 773,000).
- The Company faced liquidity challenges and needed to raise additional financial resources.
- The Company's covenants on a loan with Banca Popolare di Milano were not met.
Mitigation Strategies
- The Company sold treasury shares to finance liquidity needs.
- The Company planned a capital increase (initially a private placement, later an ordinary capital increase) to raise additional funds.
- The Company was negotiating a restructuring of a loan facility with Banca Popolare di Milano.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: IFRS
Third-party Assurance: Ernst & Young AG, Basel
Reporting Period: 2021
Environmental Metrics
Social Achievements
- Increased workforce to over 50 employees with the acquisitions of APR and AdVita.
- Appointed three seasoned biotech executives to key positions: Christopher Wick (Senior Director, Head of U.S. Sales), Anthony M. Kim (Senior Vice President and Head of U.S. Commercial Operations), and Nermeen Varawalla, MD, PhD (Chief Medical Officer).
Governance Achievements
- Expanded Board of Directors to five members with the additions of Tom Plitz (Vice Chairman), Paolo Galfetti (CEO of APR and President of Relief Europe), Patrice Jean (Partner and Chair of the Life Sciences Group at Hughes Hubbard & Reed LLP), and Michelle Lock (COO of Covis Pharma).
Climate Goals & Targets
Environmental Challenges
- Ongoing dispute with NeuroRx regarding the collaboration agreement on aviptadil, including allegations of breach of contract by both parties.
Mitigation Strategies
- Mediation with NRx regarding the collaboration agreement on aviptadil.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2023
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- Maximize commercial potential of PKU GOLIKE through licensees.
- Identify partnership opportunities for OLPRUVA in Europe.
Short-term Goals:
- Complete clinical studies of RLF-OD032 in 2024 and file a 505(b)(2) NDA with the FDA.
- Initiate pre-IND discussions with the FDA for RLF-TD011 by the end of 2024.
Environmental Challenges
- Rapidly evolving external environment requiring reassessment of strategic priorities and operational models.
- Costly direct commercialization infrastructure leading to a shift to a partnership-based model.
- Reduced royalty income from CAMBIA due to generic competition.
Mitigation Strategies
- Reoriented rare metabolic business model to a commercial partnered model.
- Successfully partnered GOLIKE products to Eton Pharmaceuticals in the U.S.
- Reduced cash burn rate and extended financial runway to 2026 through out-licensing.
- Exploring partnerships for rare respiratory assets.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2023-01 to 2023-06
Environmental Metrics
Climate Goals & Targets
Medium-term Goals:
- File for FDA approval of RLF-OD032 in Q1-Q2 2025
Short-term Goals:
- Start a pilot clinical study for RLF-OD032 in Q1 2024
Environmental Challenges
- New financing has been much more difficult to obtain than in recent years.
Mitigation Strategies
- Successful efforts to raise financing on favorable terms.
- Streamlining the Company and focusing on optimizing the cost-effectiveness of operations.
- Prioritizing the use of resources over the near term.