Modus Therapeutics AB

STOCKHOLM, Sweden I February 21, 2023 I Modus Therapeutics AB (“Modus”), a company developing innovative treatments for patients with major unmet medical needs, announces positive top-line data from its Phase 1b lipopolysaccharide (LPS) provocation study, a key step in evaluating the potential of its lead asset, sevuparin, as a treatment for sepsis and other conditions with systemic inflammation. In this study, healthy volunteers received LPS to induce a transient systemic inflammation reaction together with one of three dose levels of sevuparin, or placebo for 6 hours. They were then followed up at 24 hours post treatment. Provocation with LPS is a well-established model used to characterize the early stages of septic inflammation by provoking a range of measurable symptoms. All three dose levels of sevuparin were found to be safe and well tolerated throughout the study period, confirming a favorable safety profile of the candidate drug under induced inflammatory conditions. Furthermore, sevuparin treatment induced statistically significant and dose-dependent increases in the levels of certain white blood cell populations as well as a dose-dependent inhibition of the increase in respiratory rate induced by LPS. These findings are indicative of clinically relevant and immunomodulatory effects exerted by sevuparin in a state of systemic inflammation. The study outcome strengthens the potential for sevuparin as a treatment for systemic inflammation including sepsis and septic shock. This is an area of high unmet medical need as current treatment options fail to address the high disease burden of these critically ill patients. Sevuparin also demonstrated a favorable safety and tolerability profile when combined with the blood thinning heparin (enoxaparin), which is an important standard of care in severely ill patient populations that need thrombosis prophylaxis. The positive top-line data from this trial will be used to design the Modus Phase 2a study of sevuparin in patients with sepsis. For example, this data will inform the dose of sevuparin to be assessed, the dosing schedule and the patient population for the planned patient study. John Öhd, Chief Executive Officer of Modus Therapeutics commented: “We are delighted by the encouraging results from our LPS-challenge study, a very important milestone in our mission to develop sevuparin as a fundamental change in the treatment for sepsis and other conditions with systemic inflammation. The results enhance our understanding of the immunomodulatory action of sevuparin and reinforce its potential in this area of extremely high unmet need. These data will also allow us to develop an optimized trial protocol for our planned Phase 2a trial in sepsis patients. We would like to thank all our collaborators, who were critical to the success of this initial clinical study, for their continued support, and we look forward to providing more updates in the future.” The Phase 1b study was conducted in collaboration with The Centre for Human Drug Research in Leiden, The Netherlands, an independent Contract Research Organisation (CRO), which specializes in advanced early clinical drug research based on its leading expertise in inflammation models. About Modus Therapeutics and sevuparin Modus Therapeutics is a Swedish biotechnology company headquartered in Stockholm that develops sevuparin with a focus on diseases with a high unmet medical need. The company's focus in the near future is to develop sevuparin for patients with sepsis / septic shock, which is a serious and often fatal condition. 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 anti-inflammatory, 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. SOURCE : Modus Therapeutics

STOCKHOLM, SWEDEN – July 15, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that the portfolio company Modus Therapeutics has completed an oversubscribed issue of units (113% subscription rate), providing the company SEK 30 million after transaction costs. As the next step in the company’s development, preparations are in process for a listing of the company's share on Nasdaq First North in Stockholm, which is expected to take place in July, 2021. The newly raised capital will primarily be used to finance the continued clinical development of the company's drug candidate sevuparin for sepsis and septic shock. Modus Therapeutics is developing sevuparin, an innovative patented polysaccharide drug with a multimodal mechanism of action, including anti-inflammatory, anti-adhesive and anti-aggregated effects. The drug candidate is in the clinical phase and is currently being developed in two formulations, intravenous dosing or subcutaneous dosing, which enables treatment in outpatient care and at home. With the help of the capital injection, the company now plans to initiate a clinical phase Ib study and start the preparations for a more comprehensive phase IIa study. “We are pleased with the successful outcome of the recent issue and are positive about the listing of Modus Therapeutics. The drug candidate sevuparin addresses a substantial clinical need within an indication of high mortality and we look forward to continuing to follow Modus in their development journey,” comments Karolinska Development's CEO Viktor Drvota. After the issue, Karolinska Development has a direct ownership in Modus Therapeutics amounting to 38% and an indirect ownership in Modus Therapeutics via KDev Investments, whose ownership share after the issue amounts to 17%. For further information, please contact: Viktor Drvota, CEO, Karolinska Development AB Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com Johan Dighed, General Counsel and Deputy CEO, Karolinska Development ABPhone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com TO THE EDITORS About Karolinska Development ABKarolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders. Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success. Karolinska Development has a portfolio of ten companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases. The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network. For more information, please visit . Attachment

STOCKHOLM, SWEDEN – June 15, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that its portfolio company Modus Therapeutics has entered into a collaboration agreement with Imperial College London to evaluate the effect of its drug candidate sevuparin in patients with severe malaria. Sevuparin is currently being developed in the indication sepsis/septic shock, a condition that bears resemblance to the systemic inflammatory reaction that occurs in connection with severe malaria infection. Malaria causes more than 400,000 deaths per year and the need for new and effective drugs is therefore great. Severe malaria continues to be a medical challenge in several parts of the world. The disease often affects children and the need for effective drugs is great as malaria can induce a systemic inflammatory reaction leading to multi-organ failure, a reaction similar to that seen in sepsis/septic shock. The purpose of the collaboration announced today is to conduct a clinical study evaluating sevuparin as a potentially groundbreaking treatment for malaria. The project will be led by Professor Kathryn Maitland's research group at Imperial College London and funded through a scientific collaboration grant issued by the Wellcome Trust, one of the world's largest research support foundations. Modus Therapeutics will contribute to the project by supplying the drug candidate sevuparin, which has previously shown promising effects against malaria in tissue samples from patients with a confirmed infection. "We are delighted with the academic collaboration between Modus Therapeutics and Imperial College London, which we hope will lead to a better treatment of severe malaria. The data generated in the project will contribute to strengthening the scientific basis for sevuparin in upcoming development efforts in sepsis/septic shock", comments Viktor Drvota, CEO, Karolinska Development. For further information, please contact: Viktor Drvota, CEO, Karolinska Development AB Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com Johan Dighed, General Counsel and Deputy CEO, Karolinska Development ABPhone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com TO THE EDITORS About Karolinska Development ABKarolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders. Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success. Karolinska Development has a portfolio of ten companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases. The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network. For more information, please visit . Attachment