PledPharma AB
Interim information
Interim report January – March 2017
Stockholm, 2017-04-25 08:00 CEST (GLOBE NEWSWIRE) --
January – March summary
-- Net result for the period amounted to KSEK -12 281 (-6 846)
-- Cash equivalents at the end of the period amounted to KSEK 382 041 (43 684)
-- Cash flow from operating activities amounted to KSEK -11 958 (-6 676)
-- Result per share amounted to SEK -0.3 (-0.2)
Significant events during the period
-- Gunilla Osswald and Elisabeth Svanberg were elected to the Board of
Directors. Håkan Åström and Sten Nilsson will remain on the board.
-- PledPharma's key patent application for the active pharmaceutical
ingredient of the drug candidates PledOx® and Aladote® was approved in
Japan and Russia.
-- Patent for the anticancer-effect of PLED compounds was approved in Canada
and an important use patent for PLED compounds was approved in Israel.
Significant events after the end of the period
-- Nicklas Westerholm was appointed as new CEO of PledPharma.
-- At the AGM on April 25, 2017, Marie Ekström Trägårdh is proposed as a new
member of the Board of Directors.
Activities during the quarter
The continued clinical development program for PledOx® is under evaluation and
planning. Contacts with regulatory authorities, specialists within oncology and
chemotherapy induced peripheral neuropathy, patient organizations, service
providers (CROs) of clinical trials as well as commercial considerations will
form the basis in the design of the continued development program for PledOx®.
Manufacturing costs for the continued clinical studies, as well as costs for
safety studies affected the quarterly results. In the Aladote® project, the
start of a proof of principle study is being prepared and Dr James Dear -
active in Edinburgh and key opinion leader in the field of acetaminophen
poisoning - has been selected as the principal investigator. The first phase of
this study will include 24 patients treated for acetaminophen poisoning.
During the first quarter of the year, patent protection for PledPharma's two
drug candidates were strengthened when the company's patent application for the
active pharmaceutical ingredient in PledOx® and Aladote® was approved in two
additional countries with significant market potential - Japan and Russia.
During the quarter, Dr Gunilla Osswald and Dr Elisabeth Svanberg, both with
extensive experience in clinical drug development, were selected as new members
of the Board. Marie Ekström Trägårdh is proposed as a new member of the Board
at the Annual General Meeting on April 25.
Nicklas Westerholm has since 1995 been working in the AstraZeneca Group in
several global roles and different business areas, most recently as Vice
President Project & Portfolio Management, Cardiovascular and Metabolic
Diseases, Global Medicines Development Unit. Prior positions include roles as
Executive Officer and Vice President of Japan Operations, Director Investor
Relations, Head of Global API Supply and Head of Development Manufacture.
Nicklas Westerholm has studied analytical and organic chemistry at Stockholm
University, and Chemical Engineering at KTH Royal Institute of Technology. He
has also participated in educational programs at the University of Warwick,
INSEAD and Harvard Business School.
I look forward to continuing the work with our unique data from the PLIANT
study within PledPharma’s research and development and together with Nicklas
Westerholm develop PledOx® to a valuable drug to reduce cancer patient’s
suffering, says CEO Jacques Näsström.
Further recruitments are underway to ensure adequate resources and expertise
relevant for the continued clinical development and commercialization of drug
candidates PledOx® and Aladote®.
For more information, please contact:
Jacques Näsström, CEO, phone: +46 737 130 979
Michaela Gertz, CFO, phone: +46 709 26 17 75
About PledPharma
PledPharma develops new drugs that protect the body against oxidative stress –
a potentially debilitating and sometimes life-threatening condition that can be
caused by chemotherapy treatment and following acetaminophen (paracetamol)
overdose. The company's most advanced project PledOx® is being developed to
reduce nerve damage associated with chemotherapy. A phase IIb study has been
conducted and will serve as the basis for the continued development. The drug
candidate Aladote® is being developed to reduce the risk of acute liver failure
associated with acetaminophen poisoning.
PledPharma (STO: PLED) is listed on Nasdaq First North. Erik Penser Bank is the
company’s Certified Adviser (tel +46 8 463 80 00). For more information, see
www.pledpharma.se
This information is information that PledPharma AB (publ) is obliged to make
public pursuant to the EU Market Abuse Regulation and the Securities Markets
Act. The information was submitted for publication, through the agency of the
contact person set out above, at 08:00 CET on April 25, 2017.
