Pila Pharma, a Nordic biotech company founded by former Novo Nordisk researcher Dorte X. Gram, has raised 10 million SEK through a directed share issue to fund a groundbreaking study related to obesity treatment.
As competition intensifies in the global market for weight-loss medications, dominated by industry giants like Novo Nordisk and Eli Lilly, Pila Pharma—a publicly listed company in Sweden—is positioning itself to join the fray. The new funding will be used to support a Phase-2a study, investigating the safety and efficacy of the company’s molecule in treating obesity. This year-long study is crucial for the company’s future growth.
Founded in Malmö, Sweden, in 2014, Pila Pharma is led by Dorte X. Gram, a former veterinarian and Novo Nordisk obesity researcher. Gram played a key role in discovering the molecule that eventually led to Semaglutide, the active ingredient in Novo Nordisk’s popular weight-loss drugs Ozempic and Wegovy.
With the recent capital injection, Pila Pharma aims to assess the safety of its molecule in higher doses and expand the participant base to evaluate its potential as part of a new tablet-based obesity treatment.
“When we started 10 years ago, obesity was barely recognized as a disease. Today, it is widely acknowledged, and while Type-2 diabetes remains a significant focus, the market for weight-loss drugs has expanded dramatically. The latest GLP-1 molecules, known for their rapid and significant weight loss effects, have opened up new opportunities,” says Gustav H. Gram, CEO of Pila Pharma.
A Booming Market
In 2024, the focus in the industry has shifted towards “functional weight loss”—gradual weight reduction that preserves muscle mass. This trend is particularly evident in treatments that combine GLP-1 with other molecules. There is also growing interest in oral, tablet-based solutions, which is the direction Pila Pharma is heading.
Pila Pharma believes its technology has matured to a stage where it can now be rigorously tested. The company is initiating a study to develop a novel obesity drug with a unique mechanism of action, targeting an obesity medication market expected to exceed €100 billion by 2030.
“We’re still in the early stages of weight-loss medication development, but with such high demand, there will be room for multiple solutions. This new funding will allow us to explore whether our molecule can effectively reduce body weight and carve out a unique position in the market,” says Gustav H. Gram, hinting at potential partnerships or acquisitions.
The Road Ahead
Currently in Phase 2 of its drug development, Pila Pharma is working on a treatment that could aid weight loss for obese individuals with Type-2 diabetes. Results from the study are expected within a year, and if successful, the company plans to proceed with a larger Phase 2b trial.
Previous studies have shown promising safety data and signs of efficacy in regulating Type-2 diabetes, along with a notable reduction in biomarkers linked to heart failure. This suggests the molecule may offer cardiovascular benefits alongside its potential for blood sugar regulation and weight loss.
“If our study proves effective in treating obesity, we will be the first company to use a TRPV1-antagonist for metabolic diseases. This drug class has primarily been associated with pain management until now. A successful outcome would position us to develop a ‘first-in-class’ product, making a significant impact on medical history and offering us a unique place in the global obesity medication market,” adds Gustav H. Gram.