STOCKHOLM, SWEDEN – September 28, 2022. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition has presented new preclinical results that provide further support for the company's most advanced drug candidate golexanolone in the treatment of the rare autoimmune disease primary biliary cholangitis (PBC). Study data show that golexanolone has a significant positive effect on extreme fatigue in a validated test model. Umecrine Cognition plans to initiate a phase 2 clinical trial of golexanolone in patients suffering from PBC in the near future.
STOCKHOLM, SWEDEN – September 14, 2022. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that the portfolio company Umecrine Cognition has secured funding of SEK 41 million for the start of a Phase 2 study of the drug candidate golexanolone in primary biliary cholangitis, a condition that occurs when the bile ducts in the liver are slowly destroyed. The financing is being implemented as a convertible loan with attached share options. Karolinska Development is investing SEK 15 million as part of an investor consortium that includes, among others, AB Ility. The dilutive effect of the transaction will result in a negative earnings effect of SEK 49 million (7.7%) for Karolinska Development in the third quarter of 2022.
STOCKHOLM, SWEDEN – May 8, 2020. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition has presented positive supplementary results from a phase 2a study of golexanolone. Analyses of data for additional efficacy endpoints reveal that treatment with the drug candidate exerts a significant effect on brain signaling with a correlated positive effect on excessive daytime sleepiness, a disabling symptom of a range of CNS-related disorders. Umecrine Cognition will revisit the development strategy for golexanolone, in order to optimize the value of its drug candidate based on these encouraging findings.
STOCKHOLM, SWEDEN – April 3, 2020. Karolinska Development (Nasdaq Stockholm: KDEV) announces that its portfolio company Umecrine Cognition has reported top-line data from a clinical phase 2a study of the drug candidate golexanolone in patients at risk of developing hepatic encephalopathy. Results demonstrate a positive safety and tolerability profile; however, no indications of clinical effects could be observed. The results will be further analyzed in order to evaluate if continued clinical development of golexanolone is merited. Such a decision is planned within the second quarter of 2020, at which point Karolinska Development will disclose the impact on the book value of its holding in Umecrine Cognition.