Karolinska Development realizes value increase in
Post# of 301275
STOCKHOLM 6 November 2017. Karolinska Development today announces that the company has sold 1.5 million shares to a total amount of SEK 35 million in the portfolio company BioArctic Neurosciences AB in conjunction with the company being listed. After the transaction, Karolinska Development's holdings in BioArctic amounts to 541,661 shares.
"Karolinska Development's partial exit in BioArctic is a clear example of our ability to realize a good return on our investments. The proceeds from the equity sale strengthens our cash position, and our remaining ownership in BioArctic gives us the opportunity to take part in a potential future value increase in the portfolio company," says Viktor Drvota, CEO, Karolinska Development.
BioArctic is a research-intensive company that develops innovative biological treatments with the potential to improve the quality of life for patients with neurodegenerative diseases such as Alzheimer's and Parkinson's, moreover for patients with severe spinal cord injuries.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Christian Tange, CFO, Karolinska Development AB Phone: +46 73 712 14 30, e-mail: christian.tange@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of nine companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
This information is information that Karolinska Development AB (publ) Nasdaq Stockholm: KDEV) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Viktor Drvota at 8 pm CET on 6 November 2017.
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