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2020-12-17

PledPharma changes its name to Egetis Therapeutics with focus on late stage orphan drug development

Stockholm, Sweden, December 17, 2020. PledPharma AB (publ) (ticker: PLED) today announced that the company has formally changed its name to Egetis Therapeutics AB (publ) (ticker: EGTX). The decision was made at the Annual General Meeting on December 11, 2020. The name change is a result of the acquisition of Rare Thyroid Therapeutics AB (RTT) and the company's new strategic focus on the development of orphan drugs for rare diseases.

PledPharma announced the acquisition of RTT in early October 2020. In order to illuminate the new strategic direction and focus on orphan drugs in late clinical development, it was also announced that the new company will be named Egetis Therapeutics. The name alludes to the company's focus on rare diseases where there are great medical needs and no or few adequate forms of treatment today. Egetis is Latin and means "You need/lack". The decision on the name change was formally made at the Annual General Meeting on December 11, 2020.
 
“With Egetis Therapeutics, we get a name that reflects our focus on rare diseases where there are great medical needs. Our ambition is to build a specialized company for the development of orphan drugs, and with the acquisition of RTT, we already have two orphan drugs in late clinical development with Emcitate and Aladote from the start. The ambition is to build a portfolio of orphan drugs that can potentially improve and change the lives of many patients around the world”, said Egetis Therapeutics CEO Nicklas Westerholm.
 
The company has also launched a new website where the new focus and projects are presented in more detail. For more information, visit www.egetis.com. To contact Egetis Therapeutics, please use the email address info@egetis.com.

For further information, please contact:


Nicklas Westerholm, CEO Egetis Therapeutics
Tel. 073 354 20 62
nicklas.westerholm@egetis.com

About Egetis Therapeutics


Egetis is an innovative, unique, and integrated pharmaceutical drug development company, focusing on projects in late-stage development for treatment of serious rare/niche diseases with significant unmet medical needs in the orphan drug segment. The drug candidate Emcitate® is a first in class drug candidate developed for the treatment of MCT8 deficiency, a rare disease with high unmet medical need and no available treatment. A Phase IIb clinical trial was completed with significant and clinically relevant effects. A pivotal Phase IIb/III early intervention study was initiated in Dec 2020 with the first patient dosed and interim results is planned for 2022. Emcitate holds Orphan Drug Designation in the US and EU and was granted Pediatric Disease designation by the US FDA in November 2020. The drug candidate Aladote® is a first in class drug candidate developed to reduce the risk of acute liver injury associated with paracetamol poisoning. A proof of principle study has been successfully completed and the design of the upcoming pivotal Phase IIb/III study for Aladote has been finalized after completed interactions with FDA, EMA and MHRA. Aladote® has been granted Orphan Drug Designation in the US. Results from the PledOx POLAR program in Dec 2020 shows that Pledox did not meet the efficacy endpoint. Based on further evaluation of the results from the POLAR studies, the strategic next steps for PledOx® will be determined together with our partner Solasia.
Egetis Therapeutics (STO: EGTX) is listed on the Nasdaq Stockholm main market since October 31, 2019. For more information, see www.egetis.com

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