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2018-03-19

Karolinska Development AB (publ): Karolinska Development's portfolio company Forendo Pharma granted a €3 million loan

STOCKHOLM, 19 March 2018. Karolinska Development's portfolio company Forendo
Pharma announces a €3 million loan grant decision by Business Finland. The
purpose of the loan is to support the development of a novel drug for
endometriosis treatment.

Currently available treatments for endometriosis have limitations in efficacy
or cause harmful side effects, due to estrogen depletion. Research findings
discovered in Finland have opened new opportunities for targeting
endometriotic lesions by inhibiting HSD17B1 enzyme. Forendo Pharma's lead
program, the HSD17B1 inhibitor FOR-6219, is about to enter the clinical
development phase.

The new funding from Business Finland will be used to strengthen Forendo's
women's health portfolio with a DUAL HSD (hydroxysteroid dehydrogenase)
Inhibitor program, targeting gynaecological conditions, including
endometriosis. The DUAL HSD Inhibitor program was initiated in 2016 and
Forendo is planning to select the product candidate for further development
in 2019.

"Business Finland's decision to grant a loan is encouraging in the way that it
gives extern validation to the research and development in Forendo Pharma",
says Viktor Drvota, CEO of Karolinska Development.

"The Forendo Pharma programs are expected to bring radical improvements in the
treatment of endometriosis. This would impact the wellbeing of tens of
millions of women, who now suffer from the disease", states Business
Finland's Director of SMEs, Karl Komulainen.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

TO THE EDITORS

About Karolinska Development AB

Karolinska 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 established 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 visitwww.karolinskadevelopment.com

Karolinska Development Forendo loan March 2018
http://hugin.info/143071/R/2176668/839839.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire

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