GlobeNewswire

Sunstone Life Science Ventures invests in Karolinska Development's portfolio company Forendo Pharma

Share

STOCKHOLM – July 19, 2019. Karolinska Development's portfolio company Forendo Pharma announces today that Sunstone Life Science Ventures joins the existing international investor syndicate and has made a EUR 5 million investment in Forendo Pharma. Claus Andersson, General Partner from Sunstone, joins Forendo Pharma’s Board of Directors.

With the investment, Sunstone joins the existing international investor syndicate comprising Novo Seeds, Karolinska Development, Innovestor, Novartis Venture Fund, M Ventures and Vesalius Biocapital Partners.

The new financing will enable Forendo Pharma to progress its lead endometriosis program, FOR-6219, an HSD17B1 enzyme inhibitor, into the next phase of clinical studies after the successful completion of its Phase 1a study earlier this year.

Endometriosis is a chronic condition that affects many women of reproductive age and causes repeated pain symptoms, infertility and impaired quality of life. Currently available treatments for endometriosis have limitations in efficacy or cause harmful side effects, due to systemic estrogen depletion. The novel HSD17B1 inhibitor is the first concept aiming for a local effect in the endometriosis lesions.

 “Forendo Pharma has shown reassuring progress the last year and it is very encouraging to see that they successfully continue to attract new capital", comments Viktor Drvota, CEO of 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

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


Attachment

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

New Group Chief Financial Officer13.12.2019 15:20:00 CETPress release

COMPANY ANNOUNCEMENT NO. 15-2019, DECEMBER 13, 2019, COPENHAGEN Roland M. Andersen is appointed Chief Financial Officer and member of Group Executive Management. In continuation of company announcement no. 14, we are pleased to announce the appointment of our new Chief Financial Officer and member of Group Executive Management. Roland M. Andersen joins FLSmidth from NKT and brings 25 years of solid experience and new competences through his time as CFO with public as well as private equity owned companies which will help strengthen FLSmidth. Roland is a strong financial executive with demonstrated success from his prior CFO roles at A.P. Moller Maersk, Telenor/Cybercity, Torm and most recently NKT where he played a key role in leading the company through strategic transformation and further acted as CEO for a period of time. Roland also brings international experience to FLSmidth having lived and worked abroad in Asia and other parts of the world. “We are excited that Roland has decide

Nokia signs contract with TIM Brazil to launch IoT offer13.12.2019 14:00:00 CETPress release

Press Release Nokia signs contract with TIM Brazil to launch IoT offer Nokia’s first Worldwide IoT Network Grid (WING) deal in Latin America, enabling TIM to expand IoT services in Brazil TIM’s enterprise customers will be able to offer IoT services across various industries faster by using the fully virtualized WING infrastructure, offered as a managed service Widespread adoption of IoT technologies estimated to add USD 200 billion to Brazilian economy by 2025* 12 December 2019 Espoo, Finland – Nokia has signed a contract with telecommunications giant TIM to provide Internet of Things (IoT) services to its enterprise customers in Brazil. Using the fully virtualized Nokia Worldwide IoT Network Grid (WING) managed service offer, TIM and its enterprise customers across industries,such as automotive and agriculture, will be able to capture IoT opportunities faster and more securely. The Brazilian market is the largest IoT market in Latin America, with widespread adoption of IoT technologi

Novartis receives positive CHMP opinion for Beovu® (brolucizumab) for the treatment of wet AMD13.12.2019 13:03:00 CETPress release

In two head-to-head clinical trials, patients on Beovu achieved vision gains that were non-inferior to aflibercept at year one1 In a pre-specified secondary endpoint, fewer patients had intra-retinal fluid and/or sub-retinal fluid at week 16 and year one with Beovu1 In a key pre-specified secondary endpoint, over half of Beovu 6mg patients (56% in HAWK and 51% in HARRIER) were maintained on three-month dosing intervals immediately after the loading phase through year one1 Frequent injections are a common reason patients drop off treatment for wet AMD, a leading cause of blindness that affects more than 20M people worldwide2-4 Basel, December 13, 2019 — Novartis today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion for Beovu® (brolucizumab 6 mg), also known as RTH258, an investigational product for the treatment of wet age-related macular degeneration (AMD). “Today’s CHMP opinion brings us ano

The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business13.12.2019 13:00:00 CETPress release

OUTOTEC OYJ STOCK EXCHANGE RELEASE December 13, 2019 at 2:00 PM The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business The Finnish Financial Supervisory Authority has today on December 13, 2019, approved a supplement to the Finnish language demerger prospectus (the “Prospectus”) relating to the combination of Outotec Oyj (“Outotec”) and Metso Corporation’s (“Metso”) Minerals business (the “Metso Minerals Business”). The supplement relates to the stock exchange release published by Outotec on December 10, 2019, according to which Outotec has taken a strategic decision to divest three businesses in the Metals, Energy & Water segment, which are the aluminum business, waste-to-energy solutions and sludge incineration. The supplement also relates to the stock exchange release published by Outotec on the same day, according to which Outotec lowers its sales guidance for 2019 due to the in

The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business13.12.2019 13:00:00 CETPress release

The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business Metso Corporation, Stock exchange release on December 13, 2019, at 2:00 p.m. EET The Finnish Financial Supervisory Authority has today on December 13, 2019, approved a supplement to the Finnish language demerger prospectus (the “Prospectus”) relating to the combination of Outotec Oyj (“Outotec”) and Metso Corporation’s (“Metso”) Minerals business (the “Metso Minerals Business”). The supplement relates to the stock exchange release published by Outotec on December 10, 2019, according to which Outotec has taken a strategic decision to divest three businesses in the Metals, Energy & Water segment, which are the aluminum business, waste-to-energy solutions and sludge incineration. The supplement also relates to the stock exchange release published by Outotec on the same day, according to which Outotec lowers its sales guidance for 2

Bavarian Nordic Receives Antitrust Clearance for Acquisition of Rabipur/RabAvert and Encepur from GlaxoSmithKline13.12.2019 10:26:00 CETPress release

COPENHAGEN, Denmark, December 13, 2019 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) today announced that it has received antitrust clearance in the U.S., Spain and Portugal of its planned acquisition of the two commercial vaccines, Rabipur®/RabAvert® and Encepur®, from GlaxoSmithKline plc (GSK), announced on October 21, 2019. With these clearances, and the recent approval from the Company’s shareholders of a rights issue to fund part of the acquisition, the transaction will now proceed towards closing, expected by December 31, 2019. For more information about the transaction, see company announcement no. 19/2019. About Bavarian Nordic Bavarian Nordic is a fully integrated biotechnology company focused on the development of innovative therapies against infectious diseases and cancer. Using our live virus vaccine platform technology, MVA-BN®, we have created a diverse portfolio of proprietary and partnered product candidates intended to unlock the power of the immune system to improve p