2003 - Karo Bio

A preclinical milestone was reached and a milestone payment was received in May in the Merck & Co., Inc. collaboration.
Karo Bio obtained all rights to compounds and technologies in the collaboration with Abbott Laboratories in November.
A reorganiziation and consolidation of research operations to Sweden was carried out in January and November, resulting in lower cost-base and increased efficiency.
In August, Merck & Co., Inc. decided to discontinue the development of the first drug candidate selected in 2002.
A fully subscribed new share issue was successfully completed in May, generating MSEK 118,6 before transaction costs.