Promore Pharma AB enters voluntary liquidation
Promore Pharma AB announced that the company has started an orderly shutdown.
The company has entered into voluntary liquidation in accordance with a decision made at an extraordinary general meeting on October 5, 2023, and that the Swedish Companies Registration Office has appointed the lawyer Lars-Henrik Andersson, Cirio Advokatbyrå AB, as liquidator. In the spring, the company received the final results of the PHSU05 clinical trial, which showed that the treatment effect of ensereptide was insufficient to justify further investments, which is why the board later decided to discontinue this development project. This resulted in a sharp decline in the company's market capitalization. In addition, financial markets have been unstable. Overall, this has created a very challenging climate for the company to conduct public share issues, which would be needed to finance the continued development of the company's main remaining asset, the drug candidate ropocamptide.
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