Nasdaq Stockholm AB: The observation status for Promore Pharma AB is updated (612/23)

On June 28, 2023, the shares in Promore Pharma AB (the "Company") were given
observation status with reference to that the Company had, on the one hand,
made the decision to discontinue the ensereptide project and, on the other
hand, that the Company's board of directors had assessed that the opportunities
to raise the capital needed to develop the Company's program for ropocamptide
were limited. The Company had further decided to terminate its key personnel
including the Company's CEO and CFO. 

On September 18, 2023, the observation status was updated with reference to
material adverse uncertainty in respect of the Company's financial position,
and the existence of any other circumstance that results in substantial
uncertainty regarding the issuer or the pricing of its financial instruments. 

Today, November 29, 2023, the Company published a press release with
information that the Company had entered into a letter of intent to acquire all
of the shares in PMD Device Solutions AB through a reverse takeover,
conditional upon, inter alia, approval by a general meeting of the Company's
shareholders and Nasdaq Stockholm AB's decision to admit the Company's shares
for continued trading on Nasdaq First North Growth Market. 

The rules of Nasdaq First North Growth Market state that an issuer may be given
observation status if it has been the subject of a reverse take-over or
otherwise plans to make or has been subject to an extensive change in its
business or organization so that the issuer upon an overall assessment appears
to be an entirely new company. 

With reference to the above, Nasdaq Stockholm AB decides to update the
observation status for the shares in Promore Pharma AB (PROMO, ISIN code
SE0009947740, order book ID 140251). 

For further information about this exchange notice please contact Enforcement &
Investigations, telephone [phone]. 

Nasdaq Stockholm AB