On March 4, 2016 Karolinska Development AB (Nasdaq Stockholm: KDEV) reported that Akinion, a KDev Investments portfolio company, has halted further development of its lead product candidate AKN-028, which was being evaluated in a Phase I/II clinical study for acute myeloid leukemia (AML), due to a small number of patients experiencing severe liver toxicity (Press release, Akinion Pharmaceuticals, MAR 4, 2016, http://www.karolinskadevelopment.com/?cID=551&pid=875351&did=699813&y=2016&m=03 [SID:1234512168]). As a consequence, Karolinska Development’s portfolio Net Fair Value will decrease by SEK 78 million.

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Jim Van heusden, CEO of Karolinska Development, said: "Today´s announcement is obviously very disappointing news for patients with acute myeloid leukemia given the great need for improved treatment options for this difficult-to-treat cancer. It’s unfortunate, but also illustrates the risks inherent in investing in the development of novel drug candidates."