Core Insights - Modus Therapeutics has received regulatory approval to initiate the second part of its phase 2 study for sevuparin, targeting chronic kidney disease with anemia, set to begin in Q4 2025 [1][2][3] Company Overview - Karolinska Development AB holds a 54% direct and 1% indirect ownership in Modus Therapeutics, indicating a significant stake in the company's progress [3] - The company focuses on identifying and investing in breakthrough medical innovations in the Nordic region, aiming to develop these into commercial products that improve patient lives while providing returns to shareholders [4][5] Clinical Development - The second part of the clinical study will evaluate three doses of sevuparin, building on initial data that demonstrated the drug's good tolerance [2] - The approval is seen as a crucial milestone for Modus Therapeutics, allowing it to adhere to its planned clinical development timeline [3]

Core Insights - Modus Therapeutics has successfully raised SEK 28.3 million through a unit issue with a subscription rate of 189 percent, indicating strong investor confidence [1][2][4] - The net proceeds amount to SEK 24.4 million, primarily allocated for clinical activities, including a phase 2 study of the drug candidate sevuparin for chronic kidney disease [3] - Karolinska Development holds a 66 percent direct and 8 percent indirect ownership in Modus Therapeutics, reflecting its significant stake in the company [5] Financial Details - The rights issue raised SEK 28.3 million, with a subscription rate of 189 percent, eliminating the need for guarantee commitments [1][2] - Approximately SEK 5 million of the net proceeds will be used to offset loans from Karolinska Development, while the majority will support ongoing clinical activities [3] - The financing is expected to sustain operations until the end of 2026, including potential proceeds from the exercise of warrants [3] Company Background - Karolinska Development AB is a Nordic life sciences investment company focused on breakthrough medical innovations and the growth of companies that advance these innovations into commercial products [6][8] - The company has access to world-class medical innovations from leading universities and research institutes in the Nordic region, aiming to build companies around top scientists [7] - Karolinska Development's portfolio includes eleven companies targeting innovative treatments for serious diseases, supported by an experienced management team [8]