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Modus Therapeutics

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Modus Therapeutics secures access to bridge financing from Karolinska Development

MAR

STOCKHOLM, SWEDEN - 19 November 2024: Modus Therapeutics Holding AB (“Modus”) announces that it has secured access to bridge financing of up to SEK 5.0 million from its largest shareholder, Karolinska Development. The access to this funding enables Modus to maintain momentum in its research and initiate the recently approved Phase IIa study for chronic kidney disease (CKD).

John Öhd, CEO of Modus Therapeutics, said: “We are grateful to our long-standing investor Karolinska development for this support on our way to achieving Modus’ medium-term strategic goals, including the delivery of Part 1 of the CKD study. Modus is continuously evaluating opportunities for its longer-term financing.”

For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com

This information is information that Modus Therapeutics Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-19 08:40 CET.

Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se

About Modus Therapeutics and sevuparin
Modus is a Swedish biotechnology company that is developing its proprietary polysaccharide sevuparin as a potential treatment for several major healthcare needs including sepsis, endotoxemia, severe malaria and other disorders with severe systemic inflammation as well as states of anemia, related to chronic inflammation such as kidney disease. There is a great need for new treatments that can effectively treat these conditions. Modus’ ambition is to create a paradigm shift in the care of these diseases, where sevuparin could provide therapeutic benefits. Modus Therapeutics is listed on the Nasdaq First North Growth market (“MODTX”). More information is available at www.modustx.com.

Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested – an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.

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Modus Therapeutics secures access to bridge financing from Karolinska Development

Datum 2024-11-19, kl 08:40
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Modus Therapeutics secures access to bridge financing from Karolinska Development
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