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A Gaussian Interference Channel (IC) is investigated in which a relay assists two source-destination pairs. The relay is assumed to receive over dedicated orthogonal channels from the sources (e.g., over orthogonal bands or time slots, or over wired links), while it transmits in the same band as the sources. This scenario is referred to as IC assisted by an out-of-band reception/ in-band transmission relay (IC-OIR). An achievable rate region is derived for the IC-OIR that encompasses, besides the standard signal relaying, interference management via interference relaying, cancellation and precoding. The sum-capacity is found in a specific regime defined by the very strong relay-interference conditions. Numerical results validate the performance gains of interference mitigation via the relay.