Karolinska Development divests its holding in Inhalation Sciences
STOCKHOLM - February 13, 2017. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces the divestment by KDev Investments of its entire shareholding in Inhalation Sciences AB, a company that markets PreciseInhale for inhalation research, to a consortium compromising Inhalation Sciences' founder Per Gerde, CEO Fredrik Sjövall and Råsunda Förvaltning AB.
KDev Investments, an investment fund jointly owned by Karolinska Development and Rosetta Capital, retains an economic interest in Inhalation Sciences through an earn-out agreement. Råsunda Förvaltning AB is a family owned holding company providing expansion capital to innovative growth companies with international potential.
Jim Van heusden, CEO of Karolinska Development, says: "We are continuously evaluating options for our portfolio companies to retain and realize as much value as possible. We are pleased Inhalation Sciences has been successful in attracting Råsunda Förvaltning AB as anew investor, which will support the Company towards future milestones. KDev Investments retains an economic interest through an earn-out agreement, which has the potential to generate future value."
No further financial details on this transaction will be disclosed.
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: firstname.lastname@example.org
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients' lives and provide an attractive return on investment.
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 a team including investment professionals with strong venture capital backgrounds, experienced company builders and entrepreneurs, with access to a strong global network. For more information, please visit www.karolinskadevelopment.com