The Swedish biotech company Pila Pharma has announced 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.”
Read more: “The scientist in me wants to make a difference” – Dorte X. Gram
“A natural step towards successful financing”
“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,” says 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.”
“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, which I find has great untapped potential,” says Tyge Korsgaard, Director of the Board.
Photo: Pila Pharma team