2005 - Karo Bio

Karo Bio decided in September to modify its business. In addition to the current partnership based model, Karo Bio will bring selected compounds to late stage clinical development.
Phase I clinical study with KB2115 successfully completed.
Clinical development organization strengthened with specific competences to increase the chances of being successful in clinical development projects.
The collaboration with Wyeth Pharmaceuticals was extended in August for an additional year until August 31, 2006.
Significant milestone from Merck & Co. was trigged in January for initiation of phase I clinical trials. In April, the development was discontinued due to adverse findings in animals. Additional compounds continued to be evaluated in preclinical studies for their potential to advance to clinical study.
Successful new share issue completed in December, generating MSEK 263,4 before transaction costs.