Announcement • Jun 17
Modus Therapeutics Holding AB Reports on Preclinical Data on Sevuparin in CKD with Anemia Presented at EHA2026 Modus Therapeutics Holding AB reported on preclinical data on sevuparin in chronic kidney disease (CKD) with anemia, presented at the European Hematology Association Congress 2026 (EHA2026) in Stockholm on 13 June 2026 by Dr. Michela Asperti. The poster, titled “Therapeutic potential of sevuparin in chronic kidney disease anaemia: synergistic effects with EPO and molecular insights into renal protection” (PS2400), summarized preclinical data characterizing the mechanism of action of sevuparin in CKD with anemia. The work was conducted in collaboration with researchers at the University of Brescia, an academic partnership that has supported Modus' preclinical and translational program since 2018. Among the observations presented, the data showed measurable effects of sevuparin on anemia in mice with CKD, both as monotherapy and in combination with EPO. The poster also reported that treatment with sevuparin modified the expression of molecular markers of relevance for the pathogenesis of chronic kidney disease. Together, these observations contribute to the characterization of sevuparin's mechanisms of action in this model of chronic kidney disease with anemia. The data presented at EHA2026 complement the broader characterization work supporting Modus' clinical development of sevuparin in CKD with anemia, including the ongoing Phase IIa study in patients with non-dialysis CKD and anemia. Presentation details Abstract code: PS2400 Title: Therapeutic potential of sevuparin in chronic kidney disease anaemia: synergistic effects with EPO and molecular insights into renal protection Presenting author: Dr. Michela Asperti, University of Brescia Format: Poster presentation, Session 2, 13 June 2026, Stockholmsmässan, Stockholm The abstract was published through EHA's official channels and in HemaSphere, the official journal of EHA. The poster will be available through the EHA Library following the congress. Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested – an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration. Announcement • May 30
Modus Therapeutics Holding AB (Publ) Approves Board Elections gModus Therapeutics Holding AB (publ) announced at annual general meeting held on 28 May 2026, the shareholders approved to elect Pernilla Sandwall and Sofi Eriksson as new board members of the company. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Ellen Donnelly was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 28
Modus Therapeutics Holding AB (publ), Annual General Meeting, May 28, 2026 Modus Therapeutics Holding AB (publ), Annual General Meeting, May 28, 2026, at 11:00 W. Europe Standard Time. Location: advokatfirman vinges offices, smalandsgatan 20, stockholm Sweden Announcement • Apr 14
Modus Therapeutics Holding AB (publ), Annual General Meeting, May 20, 2025 Modus Therapeutics Holding AB (publ), Annual General Meeting, May 20, 2025, at 11:00 W. Europe Standard Time. Location: at advokatfirman vinges offices, at smalandsgatan 20, stockholm Sweden Announcement • Apr 02
Modus Therapeutics Holding AB (publ) announced that it has received SEK 5 million in funding from Karolinska Development AB (publ) Modus Therapeutics Holding AB announced a private placement to issue common shares through bridge fundingfor gross proceeds of SEK 5,000,000 on March 31, 2025. The transaction included participation from returning investor Karolinska Development AB. The transaction has been approved by shareholders of company. Announcement • Mar 11
Modus Therapeutics Holding AB Announces Completion of Patient Enrollment in the SEVUSMART Phase I Study for Severe Malaria Modus Therapeutics Holding AB announced that the Phase I clinical trial SEVUSMART, evaluating the safety and tolerability of sevuparin in children with severe malaria, is now fully enrolled. The trial is being conducted in collaboration with Imperial College London and is funded by Wellcome. The SEVUSMART study aims to assess the safety of escalating doses of sevuparin in up to 20 children aged 3 months to 12 years diagnosed with severe malaria at study sites in Kenya and Zambia. By determining the optimal dose of sevuparin in combination with the current standard of care, the study seeks to pave the way for further clinical development. Sevuparin, Modus' proprietary drug candidate, has previously demonstrated promising effects against the malaria parasite in both uncomplicated malaria patients and in ex vivo studies (Leitgeb et al. 2017, Saiwaew et al. 2017). By targeting key mechanisms of severe malaria pathophysiology, sevuparin has the potential to reduce disease severity and improve patient outcomes. Severe malaria remains a major global health challenge, particularly for young children in malaria-endemic regions. The results from SEVUSMART will provide critical insights to the future clinical research evaluating sevuparin as an adjunctive treatment for this devastating disease. Announcement • Dec 10
Modus Therapeutics Initiates a Phase 2 Study with Sevuparin for Treatment of Chronic Kidney Disease with anemia Karolinska Development AB announced that its portfolio company, Modus Therapeutics, has dosed the first patient in a phase 2 clinical study of the drug candidate sevuparin, evaluated as a treatment for chronic kidney disease with anemia. The study is being conducted at Centro Ricerche Cliniche di Verona in Italy. Modus Therapeutics, listed on Nasdaq First North Growth Market, has initiated a clinical phase 2 study where the drug candidate sevupin will be evaluated as a new treatment for chronic kidney disease with Anemia. The study will be carried out in two parts, where the first part will assess safety and different dose levels of sevuparin and the second part will focus on the effect of repeated doses and clinical results such as hemoglobin levels, renal function, hepcidin levels and other biomarkers in patients with advanced chronic kidney disease and anemia. The study is be conducted in Italy and a total of 50-60 patients are expected to be included. The first part of the study is expected to be completed in the first half of 2025. Announcement • Nov 21
Modus Therapeutics Holding AB Receives Approval to Initiate a Phase IIa Clinical Trial for Chronic Kidney Disease (CKD) Modus Therapeutics Holding AB announced that it has received approval from the relevant authorities in Italy for its planned Phase IIa clinical trial with sevuparin. As previously communicated, the planned Phase IIa study will be conducted in two parts. Part 1 aims to establish dosage levels and safety of sevuparin through single doses in 25-30 patients with varying degrees of kidney failure. Part 1 will also include a small reference group of healthy volunteers and may also provide an opportunity to assess early effects on hepcidin in a relevant patient population. Part 2, the so-called "proof of concept" segment, will evaluate the effects of repeated dosing of sevuparin based on the dose levels established in Part I, focusing on endpoints related to anemia, hepcidin, kidney status, and relevant biomarkers in patients with more severe chronic kidney disease and anemia. It is expected to recruit 25-30 patients, bringing the total study enrollment to 50-60 patients. The approval is in line with Modus' target to execute Part I of the study during the first half of 2025. Announcement • Sep 27
Modus Therapeutics Holding AB (Publ) Resolves to Elect Johan Dighed as Board Member Modus Therapeutics' Extraordinary General Meeting on 27 September 2024 resolved to elect Johan Dighed as new board member for the period until the end of the annual general meeting 2025. Announcement • Sep 06
Modus Therapeutics Holding AB (publ) Announces Sudden Passing of Board Member Torsten Goesch Modus Therapeutics Holding AB (publ) announced the sudden passing of board member Torsten Goesch. Modus Therapeutics’ nomination committee has initiated the process of appointing a successor for Torsten Goesch, and further information will be communicated shortly. New Risk • Mar 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr17m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr17m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (123% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€3.92m market cap, or US$4.23m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (kr45m net loss in 3 years). Announcement • Feb 21
Modus Therapeutics Holding AB (publ), Annual General Meeting, May 17, 2024 Modus Therapeutics Holding AB (publ), Annual General Meeting, May 17, 2024. New Risk • Dec 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-kr16m). Earnings are forecast to decline by an average of 39% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€3.93m market cap, or US$4.28m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr52m net loss in 2 years). Announcement • Dec 06
Modus Therapeutics Holding AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 19.36456 million. Modus Therapeutics Holding AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 19.36456 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 9,682,280
Price\Range: SEK 2
Transaction Features: Rights Offering Announcement • Nov 10
Modus Therapeutics Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 40.25012 million. Modus Therapeutics Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 40.25012 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,125,060
Price\Range: SEK 2
Transaction Features: Rights Offering New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 35% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr21m free cash flow). Negative equity (-kr8.6m). Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Revenue is less than US$1m. Market cap is less than US$10m (€3.27m market cap, or US$3.58m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr50m net loss in 2 years). Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Sep 27
Modus Therapeutics Holding AB (publ) Completes Recruitment for Phase 1B LPS Provocation Study Modus Therapeutics Holding AB announced that recruitment has been completed into the company's clinical Phase 1b LPS provocation study evaluating the potential of its lead asset, sevuparin, for the treatment of sepsis and septic shock. The randomized, placebo-controlled Phase 1b study evaluates the effects of sevuparin on the symptoms of healthy volunteer participants who have been injected with the bacterial toxin lipopolysaccharide. Provocation with LPS is a well-established model used to characterize the early stages of septic inflammation by provoking a range of measurable symptoms. The study is also assessing the safety profile of sevuparin when used in combination with the standard prophylactic, blood-thinning heparin. The Phase 1b study is being conducted in collaboration with the Center for Human Drug Research in Leiden, The Netherlands. CHDR is an independent Contract Research Organization specializing in advanced early clinical drug research and has strong expertise in advanced inflammation models. Data from the Phase 1b study will be used to inform the protocol of the planned Phase 2 study with sevuparin in patients with sepsis. This study is expected to start in 2023. Sevuparin is a new polysaccharide drug that has the potential to break the molecular chain of events leading to vascular damage and plasma leakage in patients with sepsis or septic shock and other systemic inflammation conditions. Sevuparin does so by directly binding and neutralizing agents released from damaged white blood cells that are known to threaten the vascular integrity. Announcement • Sep 02
Modus Therapeutics Holding AB (publ) Announces First Patient Enrolled in the Phase I SEVUSMART Clinical Trial Evaluating Sevuparin in Paediatric Patients with Severe Malaria Modus Therapeutics Holding AB (publ) announced the inclusion of the first patient and the start of SEVUSMART, an Imperial College London/Wellcome sponsored phase I clinical trial evaluating the Company's proprietary drug sevuparin in paediatric patients with severe malaria. The SEVUSMART phase I trial will evaluate the safety and tolerability of escalating doses of sevuparin in up to 20 paediatric patients aged 3 months to 12 years presenting with severe malaria at the Kilifi County Hospital, Kilifi, Kenya. The study is designed to identify the appropriate dose of sevuparin together with standard of care in severe malaria to be taken forward in future clinical studies. Sevuparin has already shown promising effects on the malaria parasite in patients with uncomplicated malaria and in human samples (Leitgeb et al 2017, Saiwaew et al 2017). The trial is the result of a collaboration between Modus and a team led by Professor Kathryn Maitland from Imperial College London, UK. The project is funded by a collaborator grant in science from Wellcome (209265/Z/17/Z) to Professor Maitland's research group at KEMRI-Wellcome Trust Programme, Kilifi Kenya and to the international consortium "Severe Malaria Africa - a consortium for Research and Trials" (SMAART), the goal of which is to identify and research new treatments for severe malaria. Modus is currently developing sevuparin in sepsis/septic shock, and other conditions with systemic inflammation, of which severe malaria constitutes an example. Severe malaria remains an unaddressed medical problem in the parts of the world with endemic malaria. The condition primarily affects young children infected with the parasites. In severe malaria, the parasitic infection causes a systemic inflammation syndrome that shares similarities with sepsis and other severe conditions which uncontrolled may then progress into shock and multi-organ failure. Announcement • Aug 24
Modus Therapeutics Holding AB (publ) to Report Fiscal Year 2022 Results on Feb 22, 2023 Modus Therapeutics Holding AB (publ) announced that they will report fiscal year 2022 results on Feb 22, 2023 Announcement • May 26
Modus Therapeutics Updates on Sevuparin Phase 1b Clinical Trial Timelines Modus Therapeutics Holding AB provided an update on its ongoing Phase 1b LPS-challenge study and its other clinical activities with sevuparin. Modus has observed that the ongoing effects of the Covid-19 pandemic throughout spring have slowed down enrolment for the Phase 1b trial, causing a delay to the anticipated timelines. This is largely attributed to subjects being unable to take part if they have contracted Covid-19 or have had a Covid vaccination within the screening/enrolment period. The company now expects to finalize recruitment by end third quarter. Due to the delay caused by external circumstances mainly relating to the pandemic and outside of company control, the previously announced interim analysis cannot be performed within the anticipated timelines and is therefore cancelled. Modus is now focused on improving the pace of recruitment into the trial and has taken several initiatives to ensure acceleration for full enrollment. These include updates to the selection criteria which now allows the enrolment of female subjects into the study. Announcement • Apr 13
Modus Therapeutics Holding AB (publ), Annual General Meeting, May 11, 2022 Modus Therapeutics Holding AB (publ), Annual General Meeting, May 11, 2022, at 14:00 Central European Standard Time. Location: Advokatfirman Vinge’s offices at Smålandsgatan 20 Stockholm Sweden Agenda: To consider Presentation of the annual report and the auditor’s report and the consolidated financial statements and the auditor’s report for the group; discharge from liability of the board members and the managing director; Determination of the number of members and deputy members of the board of directors and the number of auditors and deputy auditors; Determination of remuneration for members of the board of directors and auditors; Election of the members of the board of directors and auditor; Resolution regarding the nomination committee; Resolution regarding amendment of the articles of association; Resolution regarding share issue authorization; and Closing of the annual general meeting. Announcement • Dec 02
Modus Therapeutics Holding AB announces first clinical trial participant dose with sevuparin clinical Phase 1b LPS provocation study Modus Therapeutics Holding AB announced that the first clinical trial participant has been dosed with sevuparin in the company's clinical Phase 1b LPS provocation study. The randomized, placebo-controlled Phase 1b study will evaluate the effects of sevuparin on the symptoms of healthy volunteer participants who have been injected with the bacterial toxin lipopolysaccharide (LPS) in the skin (local inflammation) and blood (systemic inflammation). Provocation with LPS is a well-established model used to characterize the early stages of septic inflammation by provoking measurable symptoms. The study will also evaluate the safety profile of sevuparin when used in combination with standard prophylactic, blood-thinning heparin. The study is conducted in collaboration with the Center for Human Drug Research (CHDR) in Leiden, The Netherlands. CHDR is an independent Contract Research Organization (CRO) specializing in advanced early clinical drug research and has strong expertise in advanced inflammation models.