Biotech company Pila Pharma has recently completed a strongly oversubscribed share issue on Nasdaq First North in Stockholm. The raised capital of nearly SEK 30 million will finance the first steps of development of a next-generation, tablet-based treatment for obesity with global potential.
The biotech company, Pila Pharma, is raising 20 million Swedish kronor in an almost fully covered capital raise, which includes a stock option for future use. The goal is to expand the clinical pipeline with a separate dedicated obesity track and thereby explore more applications for the company's oral TRPV1 inhibitor for obesity and type 2 diabetes, a potential first-in-class candidate.
The Danish-founded biotech company Pila Pharma looks to secure a partnership or acquisition within the next few years. The short-term goal is to advance the development of a promising new drug candidate for the treatment of obesity and diabetes.
Investors worldwide are scouring for their next big win after the door to the extremely lucrative obesity market was opened by pharmaceutical giants Novo Nordisk and Eli Lilly. Now benefiting on the Swedish stock exchange is a smaller Nordic biotech company.
