Mindmaze, the Swiss biopharma company specializing in digital therapies for neurological conditions, reported a widening loss in the first half of 2026 despite raising CHF 4.2 million in liquidity since year-end 2025.
The company’s net loss reached CHF 6.9 million, up from CHF 3.3 million in the same period last year, as external sales and distribution costs totaled CHF 700,000, research and development expenses hit CHF 2.2 million, and general and administrative costs amounted to CHF 4.4 million. Revenue for the period was CHF 600,000, matching the CHF 600,000 reported for the full year 2025 under its former Relief Therapeutics structure.
Liquidity declined to CHF 5.3 million at June 30, 2026, from CHF 9.5 million at December 31, 2025, as the company continues to fund operations while advancing its pipeline. Management emphasized transforming its pipeline into revenue as the priority for the second half of the year, with the first phase of a drug distribution partnership slated for launch in the fourth quarter of 2026.
Further clinical trials are underway in France and Switzerland, supporting Mindmaze’s long-term targets. The company previously projected CHF 40 million in annual sales by 2027 and potential revenue exceeding CHF 200 million within five years. Mindmaze completed a reverse merger in late 2025, merging with Relief Therapeutics to list on the Swiss stock exchange under its current structure.
Mindmaze develops digital therapies using virtual reality, sensors, and artificial intelligence for rehabilitation and treatment of neurological disorders.
