Brief: Karolinska Development's Portfolio Company Umecrine Cognition Secures Funding Ahead Of Phase 2 Study Of Golexanolone In Primary Biliary Cholangitis

Kdventures AB

14/09/2022 10:16

Sept 14 (Reuters) - Karolinska Development AB  KDEV.ST :
    * REG-KAROLINSKA DEVELOPMENT’S PORTFOLIO COMPANY UMECRINE
COGNITION SECURES FUNDING AHEAD OF PHASE 2 STUDY OF GOLEXANOLONE
IN PRIMARY BILIARY CHOLANGITIS
    * PORTFOLIO COMPANY UMECRINE COGNITION HAS SECURED FUNDING
OF SEK
41 MILLION FOR START OF A PHASE 2 STUDY OF DRUG CANDIDATE
GOLEXANOLONE IN PRIMARY BILIARY CHOLANGITIS
    * FINANCING IS BEING IMPLEMENTED AS A CONVERTIBLE LOAN WITH
ATTACHED SHARE OPTIONS
    * KAROLINSKA DEVELOPMENT IS INVESTING SEK 15 MILLION AS PART
OF AN
INVESTOR CONSORTIUM THAT INCLUDES, AMONG OTHERS, AB ILITY
    * DILUTIVE EFFECT OF TRANSACTION WILL RESULT IN A NEGATIVE
EARNINGS EFFECT OF SEK 49 MILLION (7.7%) FOR KAROLINSKA
DEVELOPMENT IN Q3 OF 2022

Source text for Eikon:  ID:nGNE5QZg1d 
Further company coverage:  KDEV.ST 

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