Sonnet BioTherapeutics to acquire Relief Therapeutics.

Sonnet BioTherapeutics, a privately held, oncology-focused biotechnology company, agreed to acquire Relief Therapeutics, a drug development company focusing on clinical stage projects, primarily developing drugs of natural human origin. Under the terms of the deal, Relief Therapeutics will receive 7.1m of Sonnet’s common shares. “The acquisition of Relief’s subsidiary by Sonnet well positions the Atexakin development program by propelling it forward towards the market with the ultimate goal of hopefully positively transforming the lives of affected patients” commented Raghuram Selvaraju, PhD, MBA, Chairman of Relief. “We are excited about the opportunity to work with the Sonnet team, which brings extensive drug development expertise and will add supplementary value to that brought by the previous developments of the Asset.”