THERAMetrics : announces today an agreement to sell its CRO business

Stans, Switzerland, May 25, 2016

THERAMetrics holding AG today announces that it has entered into a share purchase agreement for the sale of THERAMetrics GmbH, THERAMetrics S.p.A., THERAMetrics CRU, S.r.l. and THERAMetrics S.r.l.- four of its clinical research organization ('CRO') subsidiaries in Germany, Italy and Romania - to Accelovance Europe Holding Limited, a UK subsidiary of Accelovance Inc., a US-based CRO group (the 'Transaction'). As part of the transaction, Accelovance, Inc. will assume management of Therametrics Inc.'s clinical program in the United States.

The Transaction is subject to certain closing conditions, which include an additional capitalization of the concerned CRO subsidiaries by the Company, and their release from an existing bank credit facility. The purchase price consists of an initial consideration in shares of Accelovance Inc., and an earn-out component, to be paid in cash over three years.

In connection with the Transaction, the Company intends to sell THERAMetrics Clinical Supply Services s.r.l., the Company's Italian subsidiary involved in IMP manufacturing and logistics, to its shareholder Fin Posillipo S.p.A., which has undertaken to do so for a cash consideration that will allow the Company to provide the additional capitalization required for the sale of the four CRO subsidiaries under the agreement with Accelovance Inc. Furthermore, Fin Posillipo S.p.A. has undertaken to assume the existing bank credit facility of the CRO subsidiaries against the Accelovance shares that the Company will receive under the Transaction.

Following completion of the Transaction and the above referenced connected arrangements, the Company will have successfully implemented the discontinuance of its CRO operations. This in turn enables THERAMetrics to focus on its future as a biopharmaceutical company, including completing the business combination with Relief Therapeutics SA (announced in December 2015) which is being proposed for shareholder approval at the THERAMetrics annual general meeting later today.

Raffaele Petrone, Chairman and CEO of THERAMetrics, states: 'I am pleased to announce this important transaction with Accelovance. Not only does it mark the beginning of THERAMetrics' operational transformation, it gives our CRO business, and its employees, the opportunity to thrive under the leadership of a strong global player in the CRO industry.'

Stephen J. Trevisan, CEO of Accelovance adds: 'Accelovance is excited to continue its European expansion into Germany, Italy, and Romania and to welcome the addition of these talented employees to the Accelovance family. We appreciate the important opportunity to continue working on the valuable assets of Therametrics' current sponsors, and look forward to supporting their needs in successfully delivering on their programs.'

About Therametrics holding AG
Therametrics holding AG is a global tech-based Contract Research & Development Organisation dedicated to providing a full range of technological solutions through the entire value chain of drug discovery and development. The company is listed on the SIX Swiss Exchange under the symbol TMX and is headquartered in Stans, Switzerland.

For further information please contact
Raffaele Petrone
THERAMetrics holding AG
Investor and External Relations
T. +41 (0)44 723 59 59
investor@therametrics.com
www.therametrics.com

Media relation:
Press Area - Società & Servizi srl
mi@areacomunicazione.info

About Accelovance
Accelovance, Inc., headquartered in Rockville, MD, is an industry award-winning global Contract Research Organization (CRO) focused primarily in vaccine, oncology, and general medicine clinical research. As a clinical services provider to the pharmaceutical and biotechnology industries, Accelovance offers comprehensive clinical development services including management and implementation of Phase I-IV clinical trials, supportive research centers, and a clinical engagement solution utilized for recruitment, post-marketing surveillance, and long-term survival follow-up. For more information, visit the company's Web site at www.accelovance.com.
Press Contact:
Michael Keens, VP Business Development
+1(240) 238-4941
mkeens@accelovance.com
Twitter: @Accelovance

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning THERAMetrics holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of THERAMetrics holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THERAMetrics 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.

Files:

pdf eng