On December 17, 2020. PledPharma AB (publ) (ticker: PLED) reported that the company has formally changed its name to Egetis Therapeutics AB (publ) (ticker: EGTX). The decision was made at the Annual General Meeting on December 11, 2020. The name change is a result of the acquisition of Rare Thyroid Therapeutics AB (RTT) and the company’s new strategic focus on the development of orphan drugs for rare diseases (Press release, Egetis Therapeutics, DEC 17, 2021, View Source [SID1234591214]).

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PledPharma announced the acquisition of RTT in early October 2020. In order to illuminate the new strategic direction and focus on orphan drugs in late clinical development, it was also announced that the new company will be named Egetis Therapeutics. The name alludes to the company’s focus on rare diseases where there are great medical needs and no or few adequate forms of treatment today. Egetis is Latin and means "You need/lack". The decision on the name change was formally made at the Annual General Meeting on December 11, 2020.

"With Egetis Therapeutics, we get a name that reflects our focus on rare diseases where there are great medical needs. Our ambition is to build a specialized company for the development of orphan drugs, and with the acquisition of RTT, we already have two orphan drugs in late clinical development with Emcitate and Aladote from the start. The ambition is to build a portfolio of orphan drugs that can potentially improve and change the lives of many patients around the world", said Egetis Therapeutics CEO Nicklas Westerholm.

The company has also launched a new website where the new focus and projects are presented in more detail. For more information, visit www.egetis.com. To contact Egetis Therapeutics, please use the email address [email protected].