Nordic biotech company raises capital for obesity study

Nordic biotech company, Pila Pharma, has raised SEK10m (£7.28m) in a directed share issue to undertake an international study on a new obesity drug.

According to Pila Pharma, the study will assess the performance of a particular molecule – a TRPV1-antagonist – in weight loss medications. Specifically, the study will assess the safety of the molecule in increased dosages, as well as expand on the number of study participants to determine whether the molecule has potential as part of a new tablet-based obesity treatment.

An intense battle is being fought for global market shares in the world of weight-reducing medicine. Major players in the market include the likes of Novo Nordisk – which produces Ozempic and Wegovy – and Eli Lilly.