2009 - 2010

2009

Karo Bio reports positive proof of principle data for KB3305 in diabetes patients.
Karo Bio’s ER-beta project is named one of the ten most attractive projects in the field of neuroscience available for partnership.
Wyeth continues the development work originally part of the Karo Bio collaboration.
KB9520 nominated as a drug candidate in the ER-beta program.
Decision is made not to pursue further in-house development of KB3305 for the treatment of type 2 diabetes. The search for a partner begins and alternative niche indications for the compound are analyzed.
Merck initiates clinical phase IIa studies of ER compound.
Rights issue raises SEK 150 million after transaction costs.

2010

Fredrik Lindgren is appointed new CEO.
Bo Håkansson is elected as new Chairman of the Board.
Karo Bio selects heterozygous familial hypercholesterolemia (HeFH) as the first indication for eprotirome.
Merck decides to discontinue phase IIa studies of ER compound.
An agreement with Azimuth Opportunity, Ltd. on an Equity Credit Facility gives the Company access to USD 35 million in financing.
Rights issue raises SEK 291 million after transaction costs.