Akinion Halts Further Development of AKN-028 Due to Safety Concerns

Karolinska Development AB Portfolio Company Akinion Halts Further Development Of AKN-028 Due To Safety Concerns

STOCKHOLM - March 4th, 2016. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that Akinion, a KDev Investments portfolio company, has halted further development of its lead product candidate AKN-028, which was being evaluated in a Phase I/II clinical study for acute myeloid leukemia (AML), due to a small number of patients experiencing severe liver toxicity. As a consequence, Karolinska Development's portfolio Net Fair Value will decrease by SEK 78 million.

Jim Van heusden, CEO of Karolinska Development, said: “Today´s announcement is obviously very disappointing news for patients with acute myeloid leukemia given the great need for improved treatment options for this difficult-to-treat cancer. It’s unfortunate, but also illustrates the risks inherent in investing in the development of novel drug candidates.”

For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: jim.van.heusden@karolinskadevelopment.com

David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk

TO THE EDITORS

About Karolinska Development AB

Karolinska Development AB is an investment company focused on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients’ lives and provide an attractive return on investment.

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 12 companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

The Company is led by a team including investment professionals with strong venture capital backgrounds, experienced company builders and entrepreneurs, with access to a strong global network.

For more information, please visit www.karolinskadevelopment.com

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