• The portfolio company Dilafor signed a binding term sheet with Exeltis, a global Women’s Health company, for an exclusive semi-global license (excluding China and Japan) to its lead candidate drug tafoxiparin. Exeltis will fund pivotal clinical trials, development and commercialization of tafoxiparin for priming of labor. The deal offers Dilafor significant upside through sales-based milestone payments and up to double-digit royalties on net sales, alongside limited upfront and development-based milestones (January 2026).
• The Company announced both the outcome of the rights issue and the name change to KDventures, which were decided by the board on December 1, 2025, and approved by the extraordinary general meeting on January 8, 2026. The rights issue was subscribed to a total of approximately 57 percent, of which approximately 21 percent was subscribed with the support of subscription rights and approximately 2 percent was subscribed without the support of subscription rights. This means that approximately 34 percent, corresponding to SEK 69.4 million of the Rights Issue is allocated to the investors who have guaranteed the Rights Issue. KDventures is thus provided with approximately SEK 115.2 million before issue costs.
• The company also carried out a directed new share issue, with a deviation from the shareholders' preferential rights, as compensation for the guarantee commitments provided in the rights issue. The new share issue also means that the new share register is more balanced - all individual owners now hold less than 20% of shares or votes (January and February 2026).
• Novakand Pharma's (Novakand) planned reverse acquisition of portfolio company SVF Vaccines in February 2026 will not be implemented as planned, after a majority of Novakand's shareholders at an extraordinary general meeting chose a different path (February 2026).
• KDventures announced that Organon has discontinued the development of a preclinical drug candidate for polycystic ovarian syndrome (PCOS) that was part of the acquisition of the portfolio company Forendo. Thus, the development of both drug candidates included in the acquisition have been discontinued. KDventures has therefore written off its entire remaining book value of the agreement on potential additional purchase considerations entered into between the parties in connection with the acquisition (March 2026).
• The portfolio company AnaCardio received approval for a US patent covering the use of AC01 for the treatment of heart failure with reduced ejection fraction (HFrEF). The issued patent extends the IP protection for AC01 in the US until the 2040s (March 2026).

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