Scientific Breakthrough in the Karo Bio and Abbott Collaboration

Scientific Breakthrough in
the Karo Bio and Abbott Collaboration

Karo Bio AB and Abbott Laboratories announce that they have determined
the three dimensional structure of the Glucocorticoid Receptor (GR), an
important target protein for pharmaceutical development. The receptor
mediates the anti-inflammatory effects of steroids and regulates glucose
metabolism. This is a discovery that the pharmaceutical industry has
been trying to uncover for several years. For this reason the
announcement today represents a major achievement.

In a joint collaboration, Karo Bio and Abbott have focused on the
glucose regulation properties of GR. Since January 2000, the companies
have collaborated on the development of a novel therapy for treatment of
Type II diabetes with the glucocorticoid receptor drug. The aim of the
collaboration is to develop liver selective antagonists that will
normalize the elevated output of glucose from the liver in Type II
diabetics. The joint project has entered preclinical development with
the identification and optimization of lead compounds. In this phase,
understanding the GR structure will be very important.

“This is a major scientific breakthrough,” said Torben Jørgensen,
president, Karo Bio. “We believe that this discovery will be useful for
the success of our collaboration with Abbott and we are enthusiastic
about moving forward with Abbott in the further development of the lead
compounds.”

“Access to the three-dimensional X-ray crystallographic structure of the
glucocorticoid receptor is important scientifically in our research
efforts in diabetes and metabolic disease,” said Terry Opgenorth, Ph.D.,
divisonal vice president, Metabolic Disease Research, Abbott
Laboratories. “This discovery gives us important information for the
design and development of potent and selective compounds through our
strong collaboration with Karo Bio.”

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For further information contact:

Karo Bio AB
Torben Jørgensen, President, Karo Bio
Direct telephone: +46-8-608 6020
Mobile telephone: +46-70-749 0584

Background

Karo Bio is a company with operations in the United States and Sweden.
The Company employs 120 people and has 250 patent cases including 100
approved patents.

Karo Bio has been listed on the Stockholm stock exchange (KARO) since
1998 and has a leading position in the field of drug discovery and
nuclear receptors. The nuclear receptors are important and validated
drug targets for a number of clinical indications and the Company uses
proprietary technologies for the development of novel and improved
therapies for major markets. An important base for generation of new
therapeutic strategies is Karo Bio’s strong academic network.

Therapeutic areas are women’s health care, metabolic disorders,
cardiovascular disease, diabetes, dermatology, ophthalmology and
infectious disease.

Karo Bio collaborates with major pharmaceutical companies for
development of products through clinical trials and to the market. In
these partnerships Karo Bio receives downpayments, R&D funding and
royalties on net sales when products reach the market.

The product pipeline is strong and includes a number of proprietary
projects, which will be partnered in different stages. Karo Bio
generally collaborates with major pharmas from early drug discovery
through clinical trials but also takes the opportunity to bring products
to the clinic before partnering. Apart from financial compensations the
partners bring competence and resources for drug development and
marketing to the collaboration.

Karo Bio has one product in clinical trials and expects to enter
clinical trials with partners in the near future.

Karo Bio has a strong financial position and the partnerships include
Abbott Laboratories, Bristol-Myers Squibb, Merck & Co., Aventis Pharma,
Bayer AG, Boehringer Ingelheim Pharmaceuticals, Inc. GPC Biotech,
NovImmune S.A., and Serono International S.A.

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