Karolinska Development's portfolio company AnaCardio raises SEK 33 million to progress clinical development of a novel therapy for heart failure

STOCKHOLM, SWEDEN February 3, 2022. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company AnaCardio has completed a fundraising of SEK 33 million comprised of a convertible loan. Karolinska Development participated in this important funding, which enables AnaCardio to proceed with the clinical development plans for the company’s lead asset AC01.

AnaCardio AB is a privately held Swedish, clinical stage biopharmaceutical company

developing novel drugs to treat heart failure. The company was founded based on ground-breaking research from Karolinska Institutet showing improved contractility of the heart muscle through a unique and differentiated mechanism. With the new capital injection the company can complete the preparations to start a clinical phase 1b/2a-study with its lead asset AC01 in 2022. The convertible loan was granted by Karolinska Development AB, LLD Nybohov Invest AB and Fredrik and Ann-Helene Ljungström.

”We are delighted to have this opportunity to make further investments in AnaCardio, who’s lead asset have the potential to improve treatment options for heart failure patients. AnaCardio is now well financed to complete the preparations of a clinical phase 1b/2a-study, expected to start in 2022,” says Viktor Drvota, CEO, Karolinska Development.

Karolinska Development’s direct ownership interest in AnaCardio amounts to 21 percent.

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