Relief Points to Applied Pharma Research (APR) News re: Pivotal COVID-19 Trial Initiation with Novel Nasal Spray

Geneva, Switzerland, May 17, 2021 - RELIEF THERAPEUTICS Holding AG (SIX: RLF, OTCQB: RLFTF)("Relief"), a biopharmaceutical company with its lead compound RLF-100^TM (aviptadil) in advanced clinical development to treat COVID-19-induced lung injury, is pleased to see the recent announcement by APR Applied Pharma Research S.A. ("APR") regarding the initiation of a pivotal clinical trial with its novel nasal spray, temporarily codenamed APR-AOS2020, a Class III medical device, in patients with mild COVID-19. The trial is designed to evaluate the efficacy and safety of the product in reducing viral load in the upper respiratory airways in recently infected individuals. The APR press release can be found here.

"We are very happy to see the start of this pivotal clinical trial with one of the main product candidates in APR's portfolio so shortly after we signed the binding term sheet to acquire all shares of this exciting company," Jack Weinstein, Chief Financial Officer and Treasurer of Relief, said. "We strongly believe that the acquisition of APR will fit perfectly with Relief's strategy to expand our clinical pipeline as it will add synergistic and promising late-stage candidates to treat various indications in rare or debilitating diseases with high unmet medical needs, in addition to marketed products. We are very much looking forward to working with APR and advance our joined product pipeline as quickly as possible to reach patients."

Relief and APR, a privately held Swiss pharmaceutical company with over 25 years' experience in identifying, developing and commercializing known molecules engineered with drug delivery systems in niche and rare diseases on a global basis, announced on May 4, 2021 that the companies had signed a binding term sheet for Relief to acquire all outstanding shares of APR. See "Relief and Applied Pharma Research (APR) Sign Binding Term Sheet for Relief to Acquire All Outstanding Shares of APR." For a period of 60 days, Relief has the exclusive right to negotiate and close the transaction on the basis of the terms and conditions in the signed Term Sheet. With APR's products already on the market, the acquisition will provide Relief with commercial revenues and provide access to an established commercial organization in key European markets that Relief hopes to leverage for other programs. In addition, Relief will gain a robust clinical portfolio in rare or debilitating diseases with high unmet medical need that is synergistic with Relief's current development pipeline.

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ABOUT RELIEF THERAPEUTICS HOLDING AG

Relief focuses primarily on clinical-stage programs based on molecules with a history of clinical testing and use in human patients or a strong scientific rationale. Relief's lead drug candidate RLF-100^TM (aviptadil), a synthetic form of Vasoactive Intestinal Peptide (VIP), is in late-stage clinical testing in the U.S. for the treatment of respiratory deficiency due to COVID-19. As part of its pipeline diversification strategy, in March 2021, Relief entered into a Collaboration and License Agreement with Acer Therapeutics for the worldwide development and commercialization of ACER-001. ACER-001 is a taste-masked and immediate release proprietary powder formulation of sodium phenylbutyrate (NaPB) for the treatment of Urea Cycle Disorders and Maple Syrup Urine Disease.

RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbol RLFTF.

For more information, visit www.relieftherapeutics.com. Follow us on LinkedIn.

CORPORATE CONTACT

RELIEF THERAPEUTICS Holding AG

Jack Weinstein

Chief Financial Officer and Treasurer

contact@relieftherapeutics.com

MEDIA/INVESTOR RELATIONS CONTACT

Anne Hennecke

MC Services AG

relief@mc-services.eu

+49 (0) 211-529-252-22

Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning RELIEF THERAPEUTICS Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, including (i) whether Relief's acquisition of APR will be completed; (ii) whether any of the drugs in APR's or Relief's pipeline will be approved for commercialization; (iii) whether the acquisition of APR, if completed, will be accretive to Relief; (iv) whether the combined companies will be successful; and (v) those other risks reported in Relief's public filings, which could cause the actual results, financial condition, performance or achievements of RELIEF THERAPEUTICS Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. RELIEF THERAPEUTICS Holding AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.