STOCKHOLM, Sweden, October 24, 2025. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces that its portfolio company SVF Vaccines has presented positive results from a preclinical study of its immunotherapy SVF-001 targeting chronic hepatitis B and D at the Molecular Biology of HBV meeting in Berlin and the DeltaCure meeting in Hannover.

SVF Vaccines develops DNA vaccines and immunotherapies based on proprietary technology originating from Karolinska Institutet. In recent months, positive results from a preclinical study of the company’s product candidate SVF-001, which targets hepatitis B and D, have been presented at scientific meetings – the Molecular Biology of HBV in September, and the DeltaCure meeting in October.

The preclinical study demonstrated an antiviral effect in a humanized-liver mouse model of chronic HBV/HDV coinfection. Administration of SVF-001 resulted in deep reductions of hepatitis B virus DNA and hepatitis D virus RNA levels in blood.

"SVF Vaccines is developing the next generation of therapeutic and prophylactic vaccines that potentially can both prevent disease and cure infected patients. The recently presented results are promising and support the therapeutic potential for SVF-001; in patients coinfected with chronic hepatitis B and D," says Viktor Drvota, CEO of Karolinska Development.

SVF Vaccines’ portfolio includes SVF-001, a therapeutic immunotherapy for chronic hepatitis B and D, as well as early-stage discovery programs for other serious infectious diseases.

Karolinska Development's ownership in SVF Vaccines amounts to 33 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 patient’s 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.