0P3C Karolinska Development Ab

Karolinska Development’s portfolio company Umecrine Cognition presents positive effects of golexanolone in a preclinical model of cholestasis

STOCKHOLM, SWEDEN – November 28, 2023. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition has presented positive results from a study of the company’s drug candidate golexanolone in a preclinical model of PBC-like symptomology and neuroinflammation. The results indicate a normalizing effect on cognitive symptoms, such as fatigue, motor impairments, neuroinflammation, and neural signaling. The results are published in the November issue of the internationally renowned journal Liver International.

The results from the preclinical study, which was performed in a validated and well-known disease model of cholestasis, show that golexanolone improves symptoms generally seen in PBC. The study shows a clear reduction in central fatigue, marked improvements in short-term memory, and normalized motoric functions following a 4–5-week treatment regimen with golexanolone.

“Fatigue is the highest priority of symptom relief for PBC patients as it hinders patients in their everyday lives. Umecrine Cognition’s preclinical findings strengthen the hypothesis of golexanolone having the potential to be the first specific therapy for the most common symptoms of PBC, and to have that conclusion published in a distinguished scientific journal is a great achievement,” says Viktor Drvota, CEO of Karolinska Development.

Umecrine Cognition is developing a new class of drugs to alleviate cognitive symptoms caused by liver disease. The company's most advanced drug candidate, golexanolone, is currently being evaluated in primary biliary cholangitis (PBC) and hepatic encephalopathy (HE). In addition, preclinical data supports the development of golexanolone also for the treatment of Parkinson’s disease.

Karolinska Development's ownership in Umecrine Cognition amounts to 73%.

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 patient’s 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 eleven 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.

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• KD Umecrine Cognition PBC Liver International eng