STOCKHOLM, Sweden, June 27, 2022. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces that its portfolio company Svenska Vaccinfabriken has presented results from a preclinical study indicating that the company’s candidate therapeutic vaccine SVF-001 has potential to elicit an immune response in a disease model of chronic hepatitis B. The results were presented on June 25 at the EASL International Liver Congress^TM 2022.

Svenska Vaccinfabriken develops therapeutic proteins and DNA vaccines targeting, among others, hepatitis B. Therapeutic vaccines have, in comparison to prophylactic vaccines, the potential to cure already infected patients. Chronic infections due to hepatitis B virus (HBV) is a key underlying factor to severe liver disease and cancer. Around 250 million people live with chronic hepatitis B today and due to the lack of curative therapies the need for effective treatments is large.

A hallmark of chronic hepatitis infections is the virus’s ability to evade the immune system. By interrupting the T-cell’s normal activity of seeking out and neutralizing the virus, tolerance is induced toward the virus and disease progression occurs. The recent study analyzed the immune response in a preclinical disease model of chronic hepatitis B following treatment with SVF-001. The results show that treatment generated a strong antibody response and high T-cell activity toward HBV. These positive data supports the further development of SVF-001.

"Hepatitis is a highly contagious infectious disease that affects both young and old worldwide and causes medical complications in both the short and long term. We are impressed by Svenska Vaccinfabriken and their innovative therapeutic vaccines that have the potential to address this widespread challenge, and we look forward to following the company's continued development," says Viktor Drvota, CEO of Karolinska Development.

Karolinska Development's ownership in Svenska Vaccinfabriken amounts to 34.8 percent.

Read the scientific abstract in its entirety (abstract code: SAT413): https://easl.eu/wp-content/uploads/2022/06/ILC-2022-Abstract-Book-15.06-Web.pdf

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 AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

TO THE EDITORS

About Karolinska Development AB

Karolinska 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 nine 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 www.karolinskadevelopment.com.