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Karolinska Development’s portfolio company Modus Therapeutics and Imperial College London to conduct clinical study of sevuparin in severe malaria

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STOCKHOLM, SWEDEN – June 15, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that its portfolio company Modus Therapeutics has entered into a collaboration agreement with Imperial College London to evaluate the effect of its drug candidate sevuparin in patients with severe malaria. Sevuparin is currently being developed in the indication sepsis/septic shock, a condition that bears resemblance to the systemic inflammatory reaction that occurs in connection with severe malaria infection. Malaria causes more than 400,000 deaths per year and the need for new and effective drugs is therefore great.

Severe malaria continues to be a medical challenge in several parts of the world. The disease often affects children and the need for effective drugs is great as malaria can induce a systemic inflammatory reaction leading to multi-organ failure, a reaction similar to that seen in sepsis/septic shock.

The purpose of the collaboration announced today is to conduct a clinical study evaluating sevuparin as a potentially groundbreaking treatment for malaria. The project will be led by Professor Kathryn Maitland's research group at Imperial College London and funded through a scientific collaboration grant issued by the Wellcome Trust, one of the world's largest research support foundations. Modus Therapeutics will contribute to the project by supplying the drug candidate sevuparin, which has previously shown promising effects against malaria in tissue samples from patients with a confirmed infection.

"We are delighted with the academic collaboration between Modus Therapeutics and Imperial College London, which we hope will lead to a better treatment of severe malaria. The data generated in the project will contribute to strengthening the scientific basis for sevuparin in upcoming development efforts in sepsis/septic shock", comments Viktor Drvota, CEO, Karolinska Development.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@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 a portfolio of ten 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.

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