Karolinska Development AB (STO:KDEV), a Nordic life sciences investment company, announced on Monday that its portfolio company, Modus Therapeutics (Modus), has reported results from a phase 2 study of sevuparin in patients with sickle cell disease.

Reportedly, this phase 2 study of sevuparin did not show a meaningful benefit in the management of acute vaso-occlusive crisis (VOC) in patients with sickle cell disease (SCD). Modus is now considering its options for further development of sevuparin.

Karolinska Development added that it will return with information regarding the potential impact on the book value for its holding of Modus Therapeutics as soon as a decision has been taken on the future strategy for the project.

Modus Therapeutics' global phase 2 study included 144 patients at clinical sites across Europe, the Middle East and the Caribbean. The study compared intravenously (IV) administered sevuparin with placebo in patients admitted to the hospital with an acute VOC associated with SCD. The study also assessed several pain-related secondary endpoints.