Investment by Karolinska Development in BOOST Pharma
Karolinska Development AB (Nasdaq Stockholm: KDEV) has made a significant financial commitment of SEK 7.5 million to support BOOST Pharma's ongoing efforts in advancing the innovative BT-101 treatment. This investment forms part of a larger financing round, totaling SEK 15 million, structured as a convertible loan. This marks another important step in the development of BT-101, a pioneering stem cell-based therapy designed to treat osteogenesis imperfecta (OI), also known as brittle bone disease.
About BOOST Pharma and BT-101
BOOST Pharma is a clinical-stage biopharmaceutical company that is at the forefront of developing groundbreaking therapies aimed at children born with osteogenesis imperfecta. BT-101, the company’s flagship product, utilizes mesenchymal stem cells to lessen the frequency of fractures in infants afflicted with this debilitating condition. OI is characterized by extremely fragile bones, which often leads to multiple fractures and significant deformities. Through this funding, BOOST Pharma plans to expedite the clinical trial process, working towards providing a revolutionary disease-modifying therapy for OI to those who need it most.
Advancements and Clinical Trials
The current momentum toward a Phase 3 trial for BT-101 is buoyed by the encouraging outcomes of the Phase 2 BOOSTB4 study. In this trial, the data revealed that BT-101 not only demonstrated safety and tolerability but also achieved a remarkable reduction in the fracture rate of over 75% among children suffering from osteogenesis imperfecta. These findings highlight the potential of BT-101 to significantly improve the quality of life for young patients affected by this condition.
Support from Karolinska Development
Viktor Drvota, CEO of Karolinska Development, expressed his enthusiasm for BOOST Pharma’s progress, emphasizing the company's impressive strides in developing a transformative therapy for children with OI. With Karolinska Development holding a 14% stake in BOOST Pharma, this investment underscores their commitment to supporting the advancement of promising clinical programs that can have a substantial impact on patient health.
The Broader Impact
Karolinska Development has established itself as a leading Nordic life sciences investment company focused on medical innovations. By investing in companies like BOOST Pharma, they aim to facilitate the development of therapies that can truly make a difference in patients' lives while ensuring a favorable return on investment for shareholders. Their access to pioneering innovations at prestigious institutions like the Karolinska Institutet reinforces their mission to support groundbreaking medical advancements.
Contact Information
For those interested in learning more about this investment or the projects at Karolinska Development, please reach out to:
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
Frequently Asked Questions
What is the investment amount made by Karolinska Development?
Karolinska Development has invested SEK 7.5 million in BOOST Pharma.
What is BT-101?
BT-101 is a novel mesenchymal stem cell therapy targeted at treating osteogenesis imperfecta (OI), a condition that leads to fragile bones and frequent fractures in children.
What were the results of the Phase 2 BOOSTB4 study?
The Phase 2 study indicated that BT-101 was safe, well-tolerated, and resulted in a fracture rate reduction of over 75% among participants.
What percentage of BOOST Pharma does Karolinska Development own?
Karolinska Development holds a 14% ownership stake in BOOST Pharma.
What is Karolinska Development's focus area?
Karolinska Development is focused on investing in life sciences and identifying breakthrough medical innovations in the Nordic region.
