Danish/Swedish Biotech company announces plans to go public with promising Diabetes project
PILA PHARMA announces plans for an IPO in Q2-2021
PILA PHARMA AB, a Swedish biotech company, is pleased to announce the decision to list the company.
The Initial Public Offering (IPO), aiming for listing of the company’s shares on one of the unregulated stock exchanges in Sweden, is targeted for Q2-2021.
To facilitate the IPO process, Göteborg Corporate Finance (GCF) has been selected as the capital finance partner.
“I am thrilled that we have finally made the decision to list PILA PHARMA” says Dorte X. Gram, founder and Chairman of the Board.
“This will give us a solid platform to continue the development of XEN-D0501 as a new type of diabetes medication”.
“The cost of developing new drugs increases significantly around phase 2, so listing PILA PHARMA at this point in time is a natural step towards successful financing expresses CFO Lars B. Rasmussen. “I am very pleased with the selection of GCF as our capital finance partner for the IPO process and at the same time highly confident that GCF’s investor network reach, and their IPO experience will complement our pharma competences very well to make a successful case”.
Tyge Korsgaard, Director of the Board completes: “I have previously participated in the listing of two Danish biotech companies Genmab A/S (current market cap of approx. SEK 210 billion) and Zealand Pharma A/S (current market cap of approx. SEK 13 billion). Now it is PILA PHARMA’s turn. I really look forward to participate in the listing of PILA PHARMA, which I find has great untapped potential”.
For further information, please contact:
Dorte X. Gram
Chairman of the Board
M: +46 (0)73 903 6969