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Karolinska Development AB Modus Therapeutics Granted U.S. Patents For Sickle Cell Disease Drug Candidate Sevuparin



11/7/2016 9:26:28 AM

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STOCKHOLM - November 7, 2016. Karolinska Development AB (Nasdaq Stockholm: KDEV) notes the announcement today from its portfolio company Modus Therapeutics AB that it has been granted two patents in the U.S. covering its proprietary drug candidate sevuparin. More specifically, the two patents have been granted claims for the substance sevuparin per se and a manufacturing method for producing sevuparin (U.S. Patent no. 9,480,701) as well as its use in e.g. sickle cell disease (U.S. Patent No. 9,480,702).

Details from the Modus Therapeutics press release follow:

The two patents granted by the United States Patent and Trademark Office (USPTO) will provide key intellectual property protection in the U.S. for sevuparin until at least December 2032.

Modus Therapeutics is currently enrolling sickle cell disease (SCD) patients into a multi-centre, international, randomised Phase II study in Europe and the Middle East. This proof-of-concept study is designed to demonstrate reduced time to resolution of Vaso-Occlusive Crises (VOC) in SCD patients.

Christina Herder, CEO of Modus Therapeutics, said: “The grant of these two U.S. patents is a major milestone for Modus Therapeutics as they provide important IP protection for sevuparin and its use for SCD. The U.S. has an estimated 100,000 SCD patients, and therefore represents a significant opportunity for sevuparin.”

Viktor Drvota, Chief Investment Officer at Karolinska Development, said: “This is a positive development for Modus Therapeutics, providing a strong foundation for the development and future commercialization of sevuparin in the U.S.”

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

Christian Tange, CFO, Karolinska Development AB

Phone: +46 73 712 14 30, e-mail: christian.tange@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 Modus Therapeutics

Modus Therapeutics is a clinical-stage drug development company developing new pharmaceutical therapies to restore impaired blood flow and oxygen transport in rare diseases with large unmet medical need. The Company’s most advanced candidate, sevuparin, is currently being evaluated in a Phase II clinical trial in sickle cell disease (SCD). Repeated painful crises in SCD, so called vaso-occlusive crises (“VOC”), leads to loss of vital organ function and often significantly reduced life span. Modus Therapeutics is based in Stockholm. The Company's major shareholders are KDev Investments AB (an investment fund jointly owned by Karolinska Development AB and Rosetta Capital), Östersjöstiftelsen (The Foundation for Baltic and East European Studies), and Praktikerinvest PE AB. For more information, please visit www.modustx.com

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 10 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

Read at BioSpace.com


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