Relief Therapeutics, NRx Pharma Settle Litigation Regarding COVID-19 Treatment Candidate

Author: Vandana Singh | November 14, 2022 08:51am

• Relief Therapeutics Holding SA (OTC: RLFTF) (OTC: RLFTD) and NRx Pharmaceuticals Inc (NASDAQ:NRXP) have agreed to resolve their pending litigation. 
• As part of the settlement, NRx Pharma will transfer all of the assets it previously used in its aviptadil development program to Relief.
• Relief will have the exclusive right and control going forward and the obligation to use commercially reasonable efforts to develop and commercialize an aviptadil product.
• Relief has agreed to use commercially reasonable efforts to continue the existing Right to Try Program for aviptadil in the U.S. for at least two years and will pay NRx milestone payments if it can successfully obtain commercial approval for aviptadil for any indication.
• Related: NRx Pharma Files Counterclaim Against Relief Therapeutics Over COVID-19 Candidate Rights.
• Relief will pay NRx Pharmaceuticals sales-based for aviptadil, up to a maximum of $30 million in the aggregate.
• In July, the FDA declined to issue an Emergency Use Authorization for Zyesami (aviptadil) for a subgroup of patients with critical COVID-19.
• Price Action: NRXP shares are 1.20% lower at $0.99 during premarket on the last check Monday.

Posted In: NRXP RLFTD RLFTF