Stockholm, Sweden – June 17, 2021
Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that the company has acquired approximately 21 percent of the shares in AnaCardio AB. The new portfolio company develops drugs for the treatment of heart failure, based on groundbreaking research from Karolinska Institutet. The company’s most advanced project is deemed to be ready for evaluation in clinical studies. Karolinska Development’s initial investment in AnaCardio is intended to cover costs for necessary activities prior to a planned major capital raising to finance the first part of the project’s clinical development.
AnaCardio’s drug project emerges from research performed by Lars Lund, Professor of cardiology at Karolinska Institutet and Senior Physician at the Heart, Vascular and Neurological Theme at Karolinska University Hospital, and is based on a completely new concept for treating heart failure – an indication area with high unmet medical need. According to the analysis company GlobalData, the market for pharmaceutical treatments of heart failure is expected to grow to more than USD 22 billion by 2028.
“This attractive opportunity to invest in AnaCardio would not have been possible without Karolinska Development’s well-developed network in the Nordic research environment, a strength that is one of the cornerstones of our business model. We look forward to supporting the company in its continued development and hope to eventually be contributing to better treatment of all the millions of patients suffering from heart failure, ” comments Karolinska Development’s CEO, Viktor Drvota.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: firstname.lastname@example.org
Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: email@example.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 a portfolio of 11 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.