STOCKHOLM, September 5, 2018. Karolinska Development's portfolio company Forendo Pharma announces today that Vesalius Biocapital III Partners (Vesalius) joins Forendo Pharma's existing international investor syndicate. Forendo Pharma has raised funding of EUR 4 million from Vesalius. Stéphane Verdood, Managing Partner from Vesalius, joins Forendo Pharma's Board of Directors.
Vesalius Biocapital III Partners invests in later stage European life science companies in drug development, medtech, diagnostics and eHealth / mHealth, and is a fund managed by Vesalius Biocapital Partners, a specialist life sciences venture capital investor.
The funding enables Forendo Pharma to accelerate development of its innovative women's health portfolio. Forendo Pharma's lead program FOR 6219 in development for treatment of endometriosis, has commenced a Phase Ia study focusing on the general safety, tolerability and pharmacokinetics. The first women participating in the study have been dosed. Forendo Pharma's second program, a dual HSD Inhibitor for the treatment of broader gynecological conditions, is currently in preclinical discovery stage.
Endometriosis, a chronic condition that affects up to 10 per cent of women in reproductive age, causes repeated pain symptoms, infertility and impaired quality of life. Currently available treatments for endometriosis have limitations in efficacy or cause harmful side effects, due to estrogen depletion.
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 nine 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
