STOCKHOLM, October 31, 2018. Karolinska Development (Nasdaq Stockholm: KDEV) announces today top line results from a Phase 2b study with tafoxiparin in treatment of protracted labor. The results show that the study did not achieve its primary endpoint of reducing the time to vaginal delivery through treatment with tafoxiparin. Karolinska Development will revalue the portfolio company's book value, which is expected to negatively impact the result by SEK 40 million for the fourth quarter of 2018.
Dilafor today presents results from a Phase 2b study in tafoxiparin, a drug candidate that targets the problem of protracted labor in a completely new way compared to treatments available today. The 360 women in the study were randomly divided into one of four treatment arms, either in one of three treatment arms with different doses of tafoxiparin or in a placebo arm. In the active dose groups, the women were administered a low, medium or high dose of tafoxiparin in combination with the standard treatment for protracted labor - oxytocin. Tafoxiparin was well tolerated amongst both women and children, but no statistically significant efficacy was observed in any of the dose levels studied.
Karolinska Development will revalue the portfolio company's book value, which is expected to negatively impact the result by SEK 40 million for the fourth quarter of 2018.
"Some studies not reaching their primary endpoints is a natural part of the drug development process, and we have taken this into consideration in our general investment strategy. In the coming nine months, we expect results from no less than five Phase 2 studies at our portfolio companies", says Viktor Drvota, CEO of Karolinska Development.
The full results of the study will be published in a scientific journal or at a medical congress at a later stage.
More detailed information about the study and the study results will be made available at Dilafor's homepage www.dilafor.se.
For more information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Fredrik Järrsten, CFO, Karolinska Development AB
Phone: +46 70 496 46 28, e-mail: fredrik.jarrsten@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 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: www.karolinskadevelopment.com.
This information is information that Karolinska Development AB (publ) (Nasdaq Stockholm: KDEV) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Viktor Drvota, at 17:15 CET on 31 October 2018.
