• The portfolio company Dilafor was granted a patent in the US, protecting its drug candidate tafoxiparin for its main target indication, priming of labor. The patent will serve as a key asset as Dilafor advances into phase 3 clinical development of tafoxiparin (October 2025).
• The portfolio company PharmNovo received approval from the Spanish regulatory authorities to initiate a phase 2a clinical trial of its drug candidate PN6047, being developed as a treatment for neuropathic pain. The trial will be conducted in the EU, but has been fully aligned with the requirements defined by the U.S. Food and Drug Administration (FDA), earlier this year (October 2025).
• The portfolio company BOOST Pharma presented new positive long-term data from the BOOSTB4 phase 1/2 trial with the company’s cell therapy BT-101 targeting the rare bone disease Osteogenesis imperfecta (OI), also known as Brittle bone disease. The new results comprise two-year follow-up data from the trial and were selected for presentation at the prestigious 15th International Conference on OI in Hong Kong (October 2025).
• The portfolio company BOOST Pharma raised a SEK 34 million investment structured as a tranched convertible loan from Sound Bioventures. The investment supports continued clinical development of BT-101, a pioneering stem cell-based therapy for OI (November 2025).
• The portfolio company Modus Therapeutics received regulatory approval to initiate the second part of the phase 2 study with sevuparin as a treatment of chronic kidney disease with anemia. The study will be initiated in Q4 2025, in line with the company’s development timeline (November 2025).
• The portfolio company Umecrine Cognition published data in the scientific journal Neuropharmacology, showing sustained benefits of early treatment with golexanolone in a Parkinson's disease model. The data show that golexanolone may delay the progression of Parkinson’s disease symptoms and postpone the need for L-DOPA treatment if the therapy is administered early (November 2026).
• The portfolio company SVF Vaccines presented positive results from a preclinical study of its immunotherapy SVF-001 targeting chronic hepatitis B and D at the Molecular Biology of HBV meeting in Berlin and the DeltaCure meeting in Hannover (October 2025).
• KDventures has exercised its pro rata participation of SEK 7.5 million in BOOST Pharma’s latest financing. In total, BOOST Pharma’s financing, structured as a convertible loan, brought SEK 15 million to the company. The investment supports the continued preparation for phase 3 clinical development of BT-101, a pioneering stem cell-based therapy for Osteogenesis imperfecta (OI), also known as Brittle bone disease (October 2025).
• In December, the board of directors of KDventures called an extraordinary general meeting for January 8, 2026 to, among other things, decide on a new issue of shares with preferential rights for existing shareholders, as well as a change of company name from Karolinska Development AB to KDventures AB and a change in the limits for share capital and the number of shares (December 2025).
• The portfolio company AnaCardio reported strong, positive results from the phase 2a clinical trial GOAL-HF1, evaluating the drug candidate AC01 in patients with heart failure and reduced ejection fraction (HFrEF). The study met its primary endpoint, demonstrating a favorable safety and tolerability profile, and showed encouraging, consistent efficacy signals paving the way for a rapid advancement to phase 2b (December 2025).
• The portfolio company Modus Therapeutics dosed the first patient in the phase 2a clinical study of sevuparin as a potential new treatment for chronic kidney disease with anemia. The study is conducted in Italy and will evaluate the safety and efficacy of sevuparin in repeated dosing (December 2025).
• The portfolio company SVF Vaccines presented new preclinical data on its immunotherapy SVF-001, targeting hepatitis B and D, as a late-breaking abstract at the HepDart scientific meeting held December 7–11 in Honolulu, Hawaii. The results are follow-up data from a previously reported study, showing extended antiviral effect in preclinical models (December 2025).
• The portfolio company SVF Vaccines signed a non-binding letter of intent (LOI) with Novakand Pharma AB (“Novakand”) regarding a reverse takeover. Subject to the parties entering into a final agreement and the transaction being approved at Novakand’s extraordinary general meeting, the transaction would result in SVF Vaccines being listed on Nasdaq First North Premier. Through the proposed reverse takeover and an accompanying financing plan, SVF Vaccines aims to accelerate the development of the company’s innovative therapeutic and prophylactic vaccines based on a patented technology originating from Karolinska Institutet (December 2025).

Karolinska Development in Penserpoddens podcast Life Science-theme with exciting company pitches- 31 August 2023 (In Swedish)

Karolinska Development - Presentation Erik Penser Bank - 26 augusti 2021 (Video in Swedish)

OssDsign hissar flaggan i frankrike (In Swedish)

Tunga FDA-skalpar för Karolinska Developments portföljbolag Aprea (In Swedish)

Aprea uppnår positiva resultat mot svårfångad målmolekyl (In Swedish)

Karolinska Development-bolaget Forendo Pharma meddelar positiva fas Ia-resultat (In Swedish)

Karolinska Developments portföljbolag Umecrine Cognition levererade positiva säkerhetsdata från fas IIa-studie (In Swedish)