Redwood Pharma, active in drug development in ophthalmology, was listed on the Spotlight Stock Market in June 2016 and has since undergone strong business development through the continued validation of the original drug candidate RP101 and through the broadening of the product portfolio through the product candidate RP501. In 2020, clinical results were announced in a phase II trial for RP101, whereby it was found that RP101 shows efficacy and safety in patients suffering from chronic dry eye. The study results were also the basis for the start of the RP501 program. The Company is planning further clinical studies and in the longer term commercialization of the Company's product candidates.

The Board is of the opinion that a change of trading venue for the Company's shares to Nasdaq First North Growth Market will increase the market's awareness of the Company and have a positive impact on the Company's relationships with commercial partners. Switching exchange is thus a natural part of the Company's future development and is considered to be value - creating for Redwood Pharma's shareholders.

"Nasdaq is a global and well-known brand. A listing at Nasdaq First North Growth Market is a hallmark of quality and will create better conditions for increased visibility in the stock market and increased interest from both industry and institutional investors", says Gunnar Mattsson, Chairman of the Board of Redwood Pharma.

The Company has initiated a process for moving to the new exchange and intends to provide further information about this during the spring.