KarolinskaKarolinska Development company Modus Therapeutics raises SEK 32 million to support development of sevuparin for sickle cell disease Development AB (publ):
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: email@example.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: firstname.lastname@example.org
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@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
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
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Canadian Natural Resources Limited Announces 1 Billion Barrel Production Milestone at the Athabasca Oil Sands Project19.7.2018 11:00 | Pressmeddelande
CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited ("Canadian Natural"), as operator of the Jackpine and Muskeg River mines at the Athabasca Oil Sands Project ("AOSP"), is pleased to announce that the AOSP has achieved a mined production milestone of 1 billion barrels since operations began in 2003. Canadian Natural's President Tim McKay stated, "This is a significant milestone and demonstrates the size and scale of Canada's oil sands mining operations. The oil sands, through responsible development, provide sustainable long life low decline production and significant value for stakeholders. This milestone could not have been achieved without the dedication of the employees and contractors who focus on safe, reliable operations, while minimizing our environmental footprint to ensure long term sustainable development." Canadian Natural has a 70% working interest in the AOSP along with Chevron Canada Limited (20%) and Shell Canada Limited (10%). Canadi
ForgeRock Opens Up Open Banking19.7.2018 10:00 | Pressmeddelande
Delivers New, Open Reference Implementation and Sandbox Directory for Developers to Test Open Banking APIs in Five Minutes or Less LONDON, July 19, 2018 (GLOBE NEWSWIRE) -- ForgeRock®, the leading platform provider of digital identity management solutions, announced today the availability of the ForgeRock Open Banking Directory. Continuing its commitment to innovation and industry leadership, ForgeRock has delivered a reference bank implementation and directory, providing a technical sandbox for organizations looking to build and test Open Banking/PSD2 APIs. The lightweight and incredibly fast test platform has been acknowledged and celebrated by the team at UK Open Banking, the Implementation Entity set up by the UK Government's Competition and Markets Authority (CMA) in 2016, to deliver Open Banking. The ForgeRock development team has created an Open Banking Technical Solution Guide on the directory. Open Banking regulations, which began coming online in the UK earlier this year, for
TradeStation International Ltd to Offer Subscription Account Featuring TradeStation Technologies' Advanced Analytical Capabilities19.7.2018 10:00 | Pressmeddelande
LONDON, July 19, 2018 (GLOBE NEWSWIRE) -- TradeStation International Ltd, the London-based, United Kingdom subsidiary of TradeStation Group, Inc., today announced that it is now offering European traders, investors, advisors and market analysts access to TradeStation Analytics -- a non-brokerage subscription account featuring all of the advanced analytical capabilities of the TradeStation award-winning* platform. The software subscription account, which is provided to customers directly by affiliate TradeStation Technologies, Inc., offers market participants an opportunity to join the thousands of U.S.-based TradeStation subscribers - professionals and non-professionals alike - who trust TradeStation's cutting-edge technology to perform sophisticated market analysis, identify opportunities and stay one step ahead of today's rapidly changing financial markets. This TradeStation Analytics premium subscription package includes: Market Data delivered with speed, accuracy and reliability, w
Nordea Half-year Report 201819.7.2018 09:34 | Pressmeddelande
COPENHAGEN, Denmark, July 19, 2018 (GLOBE NEWSWIRE) -- Paris Stock Exchange : XHFT Second Quarter Results 2018 CEO Casper von Koskull's comments on the results: "This quarter we have started to see our efforts to increase customer satisfaction bearing fruit and we see signs of improving momentum across our various businesses among both corporate and household customers. We are delivering on cost, compliance, capital and credit quality, which is the foundation for continuing to be the stable, safe and trusted banking partner of our customers today and tomorrow. In recent years, Nordea has simplified and focused its business on its core Nordic markets and customers. The planned acquisition of Gjensidige Bank is a further step on that journey. It is a profitable, growing, digital bank, and together with our strategic partnership with Gjensidige, we are creating opportunities to strengthen our position in one of our core Nordic franchises and take part of a profitable growth. We have achie
Open-Silicon and Credo Demonstrate Solutions for Deep Learning and Networking Applications at TSMC OIP and Symposium in Amsterdam19.7.2018 09:00 | Pressmeddelande
AMSTERDAM, The Netherlands, July 19, 2018 (GLOBE NEWSWIRE) -- Open-Silicon, a system-optimized custom SoC solution provider and long-standing member of TSMC's Value Chain Aggregator (VCA) and Design Center Alliance (DCA) programs, and Credo, a global innovation leader in Serializer-Deserializer (SerDes) technology, will participate in a joint demonstration at the TSMC 2018 Open Innovation Platform Ecosystem Forum and Technology Symposium in Amsterdam, The Netherlands. These demonstrations will illustrate the capabilities of Open-Silicon's High Bandwidth Memory (HBM2) IP subsystem and Credo's 56G SerDes IP in enabling deep learning and networking applications. Visitors will also learn about other critical IP cores required for these applications, including a RISC-V based CPU subsystem, and Interlaken IP and Ethernet IP subsystems. Open-Silicon's HBM2 IP subsystem solution, in TSMC's FinFET and CoWoS® technologies, includes an HBM2 controller, PHY and interposer I/O. It's architected and
David Crosby Announces Intent to License His Name to the Cannabis Industry18.7.2018 18:04 | Pressmeddelande
Music industry icon pursuing licensing partnership with a leading Cannabis company LOS ANGELES and TORONTO, July 18, 2018 (GLOBE NEWSWIRE) -- David Crosby, co-founder of two of the most successful bands in history (Crosby, Stills, Nash & Young, and The Byrds) today announced he is seeking a licensing relationship with a national or global Cannabis company. This opportunity would include the exclusive license of his iconic name and marks for use worldwide. Mr. Crosby suggests calling the brand "MIGHTY CROZ" because his friends, colleagues and fans call him "Croz", but specific naming and packaging will be determined in consultation with the selected Cannabis company. Mr. Crosby will actively advise the selected Cannabis company in developing and marketing the brand. "People have been asking me to do a quality Cannabis brand and with legalization expanding, now is the right time," said David Crosby from his ranch in California. "Our first priority is partnering with a leading Cannabis co
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum