Karolinska Development AB
Clanotech receives orphan drug designation in the EU
DGAP-News: Karolinska Development AB 20.10.2014 / 08:45 --------------------------------------------------------------------- STOCKHOLM - October 20, 2014. Clanotech AB announced that its anti-fibrotic and anti-angiogenic candidate drug CLT-28643 received orphan drug designation by the European Medicines Agency (EMA) for prevention of scarring post glaucoma filtration surgery. Karolinska Development has an 80 percent ownership in Clanotech. Clanotech's lead substance, an α5β1-integrin antagonist, has anti-angiogenic, anti-fibrotic and anti-inflammatory properties that are expected to benefit the wound healing processes following glaucoma surgery. The orphan drug designation will significantly shorten a future market approval process and reinforce market exclusivity for a launched product. 'We're delighted by the positive response from the EMA, which underpins the great need for products that can improve the outcome of glaucoma surgery', said Patrizia Caldirola, CEO, Clanotech. 'Therapies with potential for use in specialized care and orphan diseases are at the core of Karolinska Development's investment strategy. The medical need for a safe and specific anti-fibrotic therapy in glaucoma surgery is substantial and the orphan drug designation will add significant value to this exciting pharmaceutical project', said Bruno Lucidi, CEO, Karolinska Development. Note: Karolinska Development's ownership of 80% includes indirect ownership through KDev Investments AB. For further information, please contact: Patrizia Caldirola, CEO, Clanotech AB Phone: +46 70 374 7179, e-mail: patrizia.caldirola@clanotech.com Bruno Lucidi, CEO, Karolinska Development AB Phone: +46 72 245 9892, e-mail: bruno.lucidi@karolinskadevelopment.com TO THE EDITORS About Clanotech AB Clanotech is a Swedish biotech company active in ophthalmology. Clanotech development strategy spans from niche indications with orphan drug opportunities such as developing safe and target specific anti-scarring treatment in glaucoma surgery techniques to therapeutic areas with high commercial potential as wet Age Related Macular Degeneration. Clanotech's lead candidate is an inhibitor of the α5β1-integrin receptor which is present in fibroblast and on vascular endothelial cells. α5β1-integrin is strongly up-regulated in fibroblast when switching to the fibrotic state and in scars after glaucoma surgery. About Karolinska Development AB Karolinska Development aims to create value for patients, researchers, investors and society by developing innovations from world class science into differentiated products that can be partnered. The business model is to: SELECT the most commercially attractive medical innovations that can potentially satisfy unmet medical needs; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 33 projects, of which 16 are in clinical development. For more information, please visit www.karolinskadevelopment.com. News Source: NASDAQ OMX --------------------------------------------------------------------- 20.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Karolinska Development AB Sweden ISIN: SE0002190926 End of News DGAP News-Service --------------------------------------------------------------------- 292294 20.10.2014
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