Karolinska Development's portfolio company Umecrine Cognition secures financing for clinical development of the drug candidate GR3027 against sleep disorders
(Thomson Reuters ONE) -
STOCKHOLM - October 4, 2017. Karolinska Development's portfolio company Umecrine
Cognition today announces that the company has closed a financing round raising
SEK 20 million. The purpose of the financing round is to fund an explorative
phase 2a-study of the company's drug candidate GR3027 of an additional
indication area; idiopathic hypersomnia. GR3027 is also developed as a potential
new treatment for hepatic encephalopathy, and has recently shown good results in
a phase 1b-trial.
Idiopathic hypersomnia is a potentially disabling disease that is characterized
by chronic excessive daytime sleepiness, despite normal sleep during the night.
There is no effective treatment for the disease.
GR3027 is a GABA(A) - receptor modulating steroid antagonist that is expected to
be able to affect the biological process which has been reported to contribute
to the symptoms of patients with idiopathic hypersomnia. The results of a
recently finished phase 1b-study show that GR3027 is tolerated well, does not
cause any dosage limited side effects and has a favourable pharmacokinetic
profile.
"We welcome Umecrine Cognition's decision to expand the development of GR3027 to
an additional indication area where alternative therapies are needed. This will
increase the commercial potential and at the same time decrease the risk with
the project", says Viktor Drvota, CEO, Karolinska Development.
Karolinska Development AB, Fort Knox Förvaring AB, Stiftelsen Norrlandsfonden
and the company's founder Torbjörn Bäckström participated in the financing
round.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota(at)karolinskadevelopment.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: christian.tange(at)karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences
investment company. The company focuses on identifying breakthrough medical
innovations in the Nordic region that are developed by entrepreneurs and
leadership teams. The Company invests in the creation and growth of companies
that advance these assets into commercial products that are designed to make a
difference to patients' lives while providing an attractive return on investment
to shareholders.
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 an entrepreneurial team of investment professionals with a
proven track record as company builders and with access to a strong global
network.
For more information, please visit www.karolinskadevelopment.com
This information is information that Karolinska Development AB (publ) (Nasdaq
Stockholm: KDEV) is obliged to make public pursuant to the EU Market Abuse
Regulation. The information was submitted for publication, through the agency of
Viktor Drvota, at 08.00 CET on October 4 2017.
Umecrine fundraising (ENG):
http://hugin.info/143071/R/2139274/818947.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: 04.10.2017 - 08:00 Uhr
Sprache: Deutsch
News-ID 562356
Anzahl Zeichen: 4449
contact information:
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Kategorie:
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