Karolinska Development AB released a positive Interim Report with advancements in portfolio companies and research progress
From GlobeNewswire: 2024-11-15 02:00:00
Karolinska Development AB (Nasdaq Stockholm: KDEV) released its Interim Report for January-September 2024, highlighting positive research progress and potential value in portfolio companies. Significant events included capital raises for Umecrine Cognition and PharmNovo, positive results from BOOST Pharma’s clinical study, and successful clinical trials by Biosergen and AnaCardio (July-September 2024).
Umecrine Cognition presented new data on golexanolone for Parkinson’s disease, SVF Vaccines reported positive results for their Covid-19 vaccine, and BOOST Pharma had a successful pre-IND meeting for their cell therapy. Karolinska Development also announced changes to its Board of Directors and reported financial updates for the third quarter of 2024 (October-November 2024).
Financially, Karolinska Development reported a net loss of SEK -10.9 million in the third quarter, with a net profit/loss of SEK -26.7 million for January-September 2024. The company made investments in portfolio companies and saw a slight increase in total fair value of the portfolio. Cash and cash equivalents decreased during the quarter, but sales remained steady (September 2024).
For more information, including the full Interim Report, visit the Karolinska Development AB website. The company focuses on investing in breakthrough medical innovations in the Nordic region to create commercial products that benefit patients and provide returns to shareholders. With a portfolio of eleven companies targeting serious diseases, Karolinska Development aims to build successful companies with the help of experienced professionals and international investors (ongoing).
Read more at GlobeNewswire:: Interim Report – January-September 2024