MAQS advised PILA PHARMA in its oversubscribed rights issue of approximately SEK 20 million

PILA PHARMA AB (publ) has successfully completed an oversubscribed rights issue of units, which will provide the company with proceeds of approximately SEK 20 million before deduction of costs related to the rights issue. 

Upon full exercise of the attached warrants of series TO2, the company anticipates receiving up to an additional SEK 60 million.

In response to the oversubscription, the board of directors of PILA PHARMA has decided on an over-allotment issue, which will provide the company with additional proceeds of approximately SEK 8.95 million and an additional amount of approximately SEK 26.85 million upon full exercise of all warrants of series TO2 covered by the over-allotment issue.

PILA PHARMA is a Swedish biotech company based in Malmö. The company's aim is to develop TRPV1 antagonists as a novel treatment of obesity and type 2 diabetes. Pila Pharma is listed on Nasdaq First North Growth Market.

MAQS Advokatbyrå acted as legal advisor and Nordic Issuing served as issuing agent to PILA PHARMA in connection with the rights issue. The MAQS team consisted of Matilda Karlsson, Rebecka Malm, and Eric Ehrencrona.