PMD, formerly Promore Pharma AB, has completed a reverse acquisition with the PMD group, simultaneously deciding on a 1:128 reverse share split. The extraordinary general meeting authorized the board to determine the record date for the reverse split, expected to be resolved in January. PMD develops and sells medical products for respiratory monitoring, with its primary product being RespiraSense™. The company aims to increase its market share in the UK and expand into Germany and the US. PMD is listed on Nasdaq First North Growth Market.
PMD or the “Company” formerly Promore Pharma AB, carried out the reverse acquisition with the PMD group by decision of the extraordinary general meeting on 29 December 2023 and simultaneously decided on a reverse share split (1:128).
The extraordinary general meeting authorised the board of directors to determine the record date for the reverse split which is expected to be resolved upon during the month of January. The Board will, in connection with the determination of the record date for the reverse split, publish further information on the procedure for the reverse split.
Information about PMD
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PMD develops and sells medical products for respiratory monitoring. Its primary product is RespiraSense™, a solution used for monitoring respiratory rate to detect deterioration of a patient’s general condition early and to avoid preventable respiratory failure and adverse patient outcomes. RespiraSense™ is, to the PMD’s knowledge, the world’s only continuous, motion-tolerant respiratory rate monitor delivering class-leading reliability in measuring respiratory rate. PMD received FDA approval for RespiraSense™ in 2022. RespiraSense™ is a novel technology and today used in 25 hospitals across United Kingdom and Ireland. PMD seeks to continue increasing its market share in the United Kingdom, with Germany and the United States to follow with initial market access activities. The Company is listed on Nasdaq First North Growth Market.
Source: Bio Space
