Karolinska Development’s portfolio company AnaCardio strengthens its organization to facilitate clinical trial of the drug candidate AC01 in heart failure
October 25 2021 - 7:18AM
Karolinska Development’s portfolio company AnaCardio strengthens
its organization to facilitate clinical trial of the drug candidate
AC01 in heart failure
STOCKHOLM SWEDEN – October 25, 2021. Karolinska Development AB
(Nasdaq Stockholm: KDEV) announces today that the portfolio company
AnaCardio has strengthened its organization in preparation for the
initiation of a phase 1b/2a study of its drug candidate AC01 in
patients with heart failure. The company's goal is to develop an
orally available drug that, unlike current therapies, can affect
the underlying cause of the disease. More than 100 million people
suffer from heart failure, a potentially fatal condition with a
one-year mortality rate of between 10 and 35 percent.
Anacardio has recently recruited Patrik Strömberg as its new
CEO. He holds a PhD in biochemistry from Karolinska Institutet, an
MBA from the Department of Business Administration at Stockholm
University and has many years of experience in drug development and
business development from leading positions within AstraZeneca and
Sobi. Supported by a newly established management team that
includes individuals with strong medical, regulatory and
manufacturing expertise and extensive clinical trial experience,
the company is now accelerating preparations for the planned start
of a phase 1b/2a study evaluating the newly developed orally
available drug candidate AC01 in patients with heart failure. The
study is expected to be initiated in 2022.
“Karolinska Development's engagement in AnaCardio is an
excellent example of how we can contribute to the creation of
viable and commercially focused drug projects based on cutting-edge
academic research. Since we became an owner in June this year, the
company has secured all the necessary expertise to fast-track its
unique drug candidate AC01 towards the first study in patients
suffering from heart failure. We look forward to continuing to
support the company in its efforts to develop a treatment that,
unlike current drugs, can affect the underlying cause of the
disease,” comments Karolinska Development's CEO Viktor Drvota.
The concept behind AC01 is based on studies showing that
intravenous treatment with a specific peptide significantly
improves heart function in patients with heart failure. In order to
offer a more user-friendly treatment, AnaCardio has secured access
to an orally available substance that is expected to provide the
same benefits as this peptide, both in acute heart failure and in
chronic treatment.
Karolinska Development holds 21% of the outstanding shares in
AnaCardio.
For further information, please
contact:
Viktor Drvota, CEO, Karolinska Development AB Phone: +46 73 982
52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Johan Dighed, General Counsel and Deputy CEO, Karolinska
Development ABPhone: +46 70 207 48 26, e-mail:
johan.dighed@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development ABKarolinska
Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences
investment company. The company focuses on identifying breakthrough
medical innovations in the Nordic region 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 a portfolio of ten 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, please visit
www.karolinskadevelopment.com.
- KD PR AnaCardio 2021-10-25 eng
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