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Karolinska Development AB ( (SE:KDEV) ) just unveiled an update.
Modus Therapeutics, a portfolio company of Karolinska Development, has successfully raised SEK 28.3 million in an oversubscribed unit issue to fund the development of its drug candidate, sevuparin, for chronic kidney disease. This financial milestone, achieved with a subscription rate of 189 percent, underscores strong market confidence in Modus Therapeutics’ clinical asset and ensures funding for its operations until the end of 2026, highlighting the company’s resilience in a challenging market environment.
More about Karolinska Development AB
Karolinska Development AB is a Nordic life sciences investment company that focuses on identifying and investing in breakthrough medical innovations in the Nordic region. The company aims to advance these innovations into commercial products that improve patients’ lives while providing attractive returns to shareholders. It has a portfolio of eleven companies targeting innovative treatments for serious diseases, leveraging access to world-class medical innovations and a strong global network.
Average Trading Volume: 364,373
Current Market Cap: SEK266.3M
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