PILA PHARMA AB

PILA PHARMA AB has announced an agreement with UK-based clinical research organization Lindus Health to support the submission of a clinical trial application for PP-CT03, a phase 2a study targeting obese individuals with type-2 diabetes. Lindus Health, known for its expertise in metabolic health and technology-driven trial execution, will assist in compiling and submitting the application. The trial aims to determine the maximum tolerable dose of XEN-D0501, assess its safety and tolerability, and evaluate its effects on body weight over three months. Recruitment is expected to begin in early autumn, pending approval. CEO Gustav H. Gram expressed optimism about the collaboration, highlighting Lindus Health's innovative model. PILA PHARMA focuses on developing TRPV1 antagonists for type 2 diabetes and other inflammatory diseases, with XEN-D0501 as a key candidate. The company also works on projects related to erythromelalgia and abdominal aorta aneurism. Lindus Health specializes in running efficient clinical trials and has conducted over 90 studies across various conditions.

The Board of Directors of Pila Pharma AB has decided to issue up to 3,333,334 new shares at a subscription price of SEK 3.00 per share, potentially raising approximately SEK 10.0 million before transaction costs. This decision, authorized by a general meeting on April 18, 2024, deviates from shareholders' preferential rights and targets a limited number of current shareholders and new investors. The subscription period ends on July 23, 2024, but may be extended by the board. The funds will support the company's expansion and a clinical trial application, necessitated by recent trial design changes to include more participants. The transaction could cause a dilution effect of approximately 12.29% for non-participating shareholders. The subscription price was set based on a 30% discount on the Volume-Weighted Average Price (VWAP) from June 17 to July 5, 2024. The company aims to demonstrate sufficient funds for an ethics committee to approve the clinical trial, which could potentially enhance shareholder value. The legal advisor for the transaction is MAQS Advokatbyrå, and Nordic Issuing AB will act as the issuing agent.

PILA PHARMA announced its participation and co-sponsorship of the 41st International Symposium on Diabetes and Nutrition in Uppsala, Sweden from June 27-30. The company aims to spread awareness about using TRPV-1 antagonists for treating diabetes and other metabolic conditions. Dr. Dorte X. Gram, CSO and Founder, will present on targeting the TRPV1 receptor. PILA PHARMA is a Swedish biotech company focusing on developing TRPV1 antagonists, particularly XEN-D0501, for type 2 diabetes, obesity, and other conditions. They have completed two phase 2a trials showing XEN-D0501's safety and efficacy. The company is preparing for further clinical trials to determine the maximal tolerable dose in overweight or obese individuals with type 2 diabetes. PILA PHARMA also focuses on erythromelalgia and abdominal aorta aneurism research.

The conference in Uppsala, Sweden, from June 27-30, will feature PILA PHARMA, invited by Professor Ulf Risérus of Uppsala University, a prominent expert in diabetes, nutrition, and obesity science. The event will gather international experts on these topics, with PILA PHARMA sponsoring SEK 50,000. Dr. Dorte X. Gram, CSO and Founder of PILA PHARMA, will present on using TRPV-1 antagonists to treat diabetes and other metabolic conditions. PILA PHARMA, based in Malmö, Sweden, focuses on developing TRPV1 antagonists as treatments for type 2 diabetes and other inflammatory diseases. They own the development candidate XEN-D0501, which has shown promise in clinical trials for diabetes and other conditions. The company also holds patents and aims to submit further patents related to TRPV1 antagonists. XEN-D0501 is a synthetic TRPV1 antagonist with applications in pain and inflammatory diseases, including diabetes. It has demonstrated good safety and efficacy in clinical trials, with plans for further studies to identify the maximum tolerable dose in overweight or obese type 2 diabetes patients. Diabetes and obesity are global health challenges, with significant unmet needs in treatment. Obesity often precedes type 2 diabetes and increases the risk of cardiovascular diseases. Advances in anti-obesity drugs have shown benefits in quality of life and longevity. Erythromelalgia is a rare disease causing pain and redness in extremities, with PILA PHARMA planning a proof-of-concept study on XEN-D0501's effects on this condition. Abdominal Aorta Aneurism is a cardiovascular disease with no current preventive treatments. PILA PHARMA is collaborating on research to investigate XEN-D0501's impact on the condition's growth in mice.

PILA PHARMA AB (publ) (FN STO: PILA) will present at the Aktiespararna's "Store Aktiedagarna" event on Wednesday, June 12, 2024, at 08:00 CET. The presentation will take place in Stockholm, Sweden, and will be livestreamed. CEO Gustav H. Gram will discuss the company's latest developments and its innovative oral treatment for diabetes. The event will be in English and include a Q&A session. Pila Pharma is a Swedish biotech company focused on developing TRPV1 antagonists for type 2 diabetes and other inflammatory diseases. The company owns the development candidate XEN-D0501 and has completed two phase 2a clinical trials showing it is well tolerated by type 2 diabetic patients. Pila Pharma aims to further study XEN-D0501's effects on diabetes, obesity, erythromelalgia, and abdominal aorta aneurism. For more information, contact CEO Gustav H. Gram at ghg@pilapharma.com or visit the company's website. Pila Pharma's shares trade on Nasdaq First North Growth Market, Sweden.

PILA PHARMA AB kommer att presentera på Redeye Theme: Diabetes idag, torsdag 23 maj 2024 kl 09:30 CEST. Presentationen kommer att hållas i Redeye's studio i Stockholm och kommer även att livestreamas. Intresserade parter och investerare är inbjudna att följa evenemanget och ställa frågor. VD Gustav H. Gram kommer att diskutera PILA Pharmas position inom diabetesområdet och hur deras innovativa orala behandling kan spela en roll i framtida behandling av diabetes och dess associerade sjukdomar. Det kommer även att vara en frågestund där frågor från Redeye-analytiker Filip Einarsson kommer att besvaras. PILA PHARMA är ett svenskt biotechföretag baserat i Malmö. Företaget äger en TRPV1-tillgång med data och kemiska enheter, inklusive utvecklingskandidaten XEN-D0501. De äger också användningspatent som täcker användningen av TRPV1-antagonister som behandling av fetma och diabetes och avser att lämna in ytterligare patent. Företagets aktier, PILA, handlas på Nasdaq First North Growth Market, Sverige. XEN-D0501 är en selektiv, syntetisk potent liten molekyl TRPV1-antagonist som licensierades in 2016. PILA Pharma har hittills slutfört två fas 2a kliniska prövningar (PP-CT01 och PP-CT02) som båda visade att XEN-D0501 tolereras väl av typ 2-diabetespatienter. Dessutom visade PP-CT02 att XEN-D0501 förbättrade den endogena insulinresponsen till oral glukos. Diabetes är en global pandemi med en förbluffande uppskattad förekomst av mer än 537 miljoner människor som lever med diabetes, motsvarande cirka 8-10% av den globala vuxna befolkningen. Trots nyligen terapeutiska framsteg finns det stora och växande ouppfyllda behov både från effektivitet, säkerhet och tillgänglighet.

The newly appointed CEO of Pila Pharma AB, Gustav H. Gram, has bought additional shares in the company. The purchases were made in two parts, on May 10th and May 13th, totalling 22,209 shares. Gram now holds 45,441 shares in Pila Pharma AB. The company is focused on developing TRPV1 antagonists, a potential treatment for type 2 diabetes, erythromelalgia, and abdominal aorta aneurism. The company's drug candidate, XEN-D0501, has shown positive results in phase 2a clinical trials and is being prepared for further testing.

Pila Pharma AB has been awarded an innovation grant from the Swedish Innovation Agency, Vinnova, to further develop its intellectual property (IP) strategy. The grant, worth SEK 100,000, was handled through the local Incubator at Medeon Science Park in Malmö, Sweden. Pila Pharma AB is working with Scandinavian IP boutique firm HØIBERG to update its IP strategy. The company's initial patents were for the use of TRPV1 antagonists in the treatment of obesity and related diseases. The company is now looking to file new patents to protect its future business. The updated IP strategy will support the company's business strategy and cover potential additional markets.

Pila Pharma AB has shifted to half-year financial reporting to cut internal administrative costs. The company's next financial report is due on August 27, 2024, as previously stated in the 2023 Financial Year-End Report. Pila Pharma AB, a Swedish biotech firm, is developing TRPV1 antagonists for the treatment of type 2 diabetes and other inflammation-related diseases. Its share ticker, PILA, is traded on the Nasdaq First North Growth Market in Sweden. The company is currently focusing on three projects related to diabetes/obesity, erythromelalgia, and abdominal aorta aneurism. Pila Pharma has secured funding for a phase 2a dose-escalation study of XEN-D0501, its development candidate, in overweight or obese people with type 2 diabetes.

Dorte X. Gram has been elected as the new Chairman of the Board of Pila Pharma AB, stepping down from her previous role as CEO. In her place, Gustav H. Gram has been appointed as the new CEO. Dorte X. Gram will also take on the role of Chief Scientific Officer (CSO) to strengthen the company's R&D focus. The reshuffling aims to enhance the company's market focus and prepare it for growth. Additionally, two new members have been elected to the Board of Directors, Lasse Richter Petersen and Julie Waras Brogren, to boost the company's financial, strategic and market insight.