KarolinskaKarolinska Development company Modus Therapeutics raises SEK 32 million to support development of sevuparin for sickle cell disease Development AB (publ):
(Thomson Reuters ONE) -
STOCKHOLM - February 20, 2017. Karolinska Development AB (Nasdaq Stockholm:
KDEV) announces its portfolio company Modus Therapeutics AB, a company focused
on innovative treatments for patients with sickle cell disease, has successfully
completed a financing round raising SEK 32 million (USD 3.6 million) from
existing investors KDev Investments, Östersjöstiftelsen and Praktikerinvest.
Details from the Modus Therapeutics press release follow:
Modus Therapeutics is currently recruiting patients in Europe, the Middle East
and Caribbean in an ongoing Phase II clinical study with sevuparin for sickle
cell disease (SCD). In the second half of 2016, the size of the study was
increased to a total of 120 evaluable VOC resolutions. In addition, after a
planned safety review in November, the study was allowed to enroll adolescents
between the age of 12 and 18. Top-line data from this Phase II study is expected
in H1 2018.
Christina Herder, CEO of Modus Therapeutics, said: "SCD is a painful, inherited
blood disorder affecting millions of people around the globe. With this
continuing support from our long-term investors, Modus has secured the financial
resources needed to complete the ongoing Phase II study."
Viktor Drvota, Chief Investment Officer at Karolinska Development, said: "This
is a positive development for Modus Therapeutics. This financing achieves a key
objective for Karolinska Development to ensure its portfolio companies have
sufficient funding to reach value-creating development milestones."
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: jim.van.heusden(at)karolinskadevelopment.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: christian.tange(at)karolinskadevelopment.com
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev(at)citigatedr.co.uk
TO THE EDITORS
About Modus Therapeutics
Modus Therapeutics is a clinical-stage drug development company developing new
pharmaceutical therapies to restore impaired blood flow and oxygen transport in
rare diseases with large unmet medical need. The Company's most advanced
candidate, sevuparin, is currently being evaluated in a Phase II clinical trial
in sickle cell disease (SCD). Repeated painful crises in SCD, so called vaso-
occlusive crises ("VOC"), leads to loss of vital organ function and often
significantly reduced life span. Modus Therapeutics is based in Stockholm. The
Company's major shareholders are KDev Investments AB (an investment fund jointly
owned by Karolinska Development AB and Rosetta Capital), Östersjöstiftelsen (The
Foundation for Baltic and East European Studies), and Praktikerinvest PE AB. For
more information, please visit www.modustx.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying
medical innovation and investing in the creation and growth of companies
developing these assets into differentiated products that will make a difference
to patients' lives and provide an attractive return on investment.
Karolinska Development has access to world-class medical innovations at the
Karolinska Institutet and other leading universities and research institutes in
the Nordic region. The Company aims to build companies around scientists who are
leaders in their fields, supported by experienced management teams and advisers,
and co-funded by specialist international investors, to provide the greatest
chance of success.
Karolinska Development has established a portfolio of nine companies targeting
opportunities in innovative treatment for life-threatening or serious
debilitating diseases.
The Company is led by a team including investment professionals with strong
venture capital backgrounds, experienced company builders and entrepreneurs,
with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
News Modus Financing Feb 2017:
http://hugin.info/143071/R/2079925/783168.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.02.2017 - 08:37 Uhr
Sprache: Deutsch
News-ID 525152
Anzahl Zeichen: 5017
contact information:
Town:
Solna
Kategorie:
Business News
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