STOCKHOLM, SWEDEN July 14, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Modus Therapeutics has completed patient enrollment on schedule to part 1 of its ongoing clinical phase 2a study with sevuparin, which is being evaluated as a treatment for patients with chronic kidney disease with anemia.

Modus Therapeutics, listed on Nasdaq First North Growth Market, has successfully completed the patient enrollment for the initial part of its clinical phase 2a study. This part aims to evaluate the safety and established dosing levels of sevuparin in both patients with chronic kidney disease (stage 3-5) and healthy volunteers. The study, conducted across two leading nephrology centers in Italy, will guide optimal dosing for the next part of the phase 2a study, a proof-of-concept study set to evaluate the therapeutic potential following repeated dosing.

“Reaching this milestone on schedule positions Modus well for the next important step in validating the therapeutic potential of sevuparin. We’re pleased to continue supporting them as they advance into the proof-of-concept part, representing a critical value inflection point for the program,” says Viktor Drvota, CEO, Karolinska Development.

Karolinska Development's ownership in Modus Therapeutics amounts to 66 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

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 eleven 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.