KDev et al. invest SEK 32m in Modus

The fresh capital will enable the company to undertake phase II clinical trials of its treatments in Europe, the Middle East and the Caribbean. It intends to present data from the trials in H1 2018.

Biotech-focused growth capital investor KDev is a joint vehicle between Karolinska Development and Rosetta Capital. The investment in Modus comes shortly after the vehicle sold its stake in Swedish pharmaceutical research business Inhalation Sciences to Råsunda Förvaltning.

Prior to the latest investment round, KDev held a 64% stake in Modus, which rebranded from Dilaforette in October 2016 and announced its intention to float.

Company
Founded in 2011 and headquartered in Stockholm, Modus is a biotech company focusing on the development of sevuparin, a drug to be used in the treatment of patients with SCD. The product has the potential to restore blood flow and prevent microvascular obstructions, caused by abnormal blood cells in SCD patients.

People
Karolinska Development – Jim Van Heusden (CEO).
Modus Therapeutics – Christina Herder (CEO).

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• Topics
• Early-stage
• Nordics
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• Sweden
• Venture