Brief: Promore Pharma Reduces Costs, Explores Conditions For Reverse Acquisition

PMD Device Solutions AB

22/06/2023 13:18

June 22 (Reuters) - Promore Pharma AB  PROMO.ST :
    * PROMORE PHARMA REDUCES COSTS AND EXPLORES THE CONDITIONS
FOR A
REVERSE ACQUISITION
    * A NUMBER OF MEASURES HAVE BEEN TAKEN TO REDUCE COMPANY'S
COSTS,
WHICH INCLUDES DISCONTINUATION OF ENSEREPTIDE PROJECT AND
TERMINATION OF COMPANY'S KEY PERSONNEL
    * HAS BEEN INVESTIGATING POSSIBILITIES OF CARRYING OUT A
REVERSE
ACQUISITION FOR SOME TIME
    * BOARD OF PROMORE PHARMA HAS THEREFORE MADE DECISION TO
GIVE
NOTICE OF TERMINATION TO COMPANY'S CEO, JONAS EKBLOM, AS WELL AS
KEY PEOPLE WHO ARE ENGAGED ON A CONSULTING BASIS, INCLUDING CFO
ERIK MAGNUSSON
    * COMPANY'S CEO AND CFO WILL BE AVAILABLE TO ASSIST COMPANY
DURING
THEIR RESPECTIVE NOTICE PERIODS, AND THEREAFTER, IF NECESSARY,
IN AGREEMENT WITH BOARD
    * COMPANY'S BOARD HAS MADE DECISION TO SHUT DOWN ENSEREPTIDE
PROJECT
    * COMPANY'S MAIN OWNERS, CORESPRING NEW TECHNOLOGY AB AND
PHARMARESEARCH CO. LTD., SUPPORTS SEARCH FOR A POSSIBLE REVERSE
ACQUISITION

Source text for Eikon:  ID:nMFNyqR6T 
Further company coverage:  PROMO.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))