In 2010, Karo Pharma initiated the project RORgamma, based on research showing that the nuclear receptor RORgamma may play a decisive role in the development of autoimmune diseases. In December 2011, Karo Bio entered into an agreement with Pfizer regarding RORgamma to discover and develop new compounds for the treatment of autoimmune diseases. Since the beginning of 2015, Pfizer has run the development work. Karo Pharma is entitled to milestone payments when the project reaches various milestones, for a total value in excess of 200 million dollars as well as royalties on sales.