In May 2000, Karo Bio AB acquired Novalon Pharmaceutical Corporation. The acquisition provided Karo Bio full access and ownership of the innovative and timesaving drug discovery BioKey® and Molecular Braille technologies. These technologies are used within the Karo Bio internal programs and out-licensed to Karo Bio research and development partners. Phase II studies commenced with KB002611, the Karo Bio skin atrophy compound. New BioKey® technology collaborations were initiated with Aventis Pharma, Bayer AG, Boehringer Ingelheim Pharmaceuticals, Inc., GPC Biotech AG and NovImmune S.A. Clinical development candidates were selected in the Bristol-Myers Squibb collaboration
