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Karolinska Development sells remaining shares in BioArctic

STOCKHOLM, 13 April 2018. Karolinska Development (Nasdaq Stockholm: KDEV) has sold its remaining shareholding in BioArctic of more than half a million shares to a total of SEK 12 million. A partial exit was carried out in November 2017 for an amount of SEK 35 million, which means that the divestment of the entire shareholding in BioArctic has totalled SEK 47 million.

"The successful divestment of our holding in BioArctic reveals the good returns that can be achieved from investments in drug development. At the same time, the liquidity contributes to a strengthening of the cash position. We will continue to combine business creativity with the professional development of innovative life science projects to maximize opportunities for creating value for our owners", says Viktor Drvota, CEO, Karolinska Development.

The final divestment of shares in BioArctic became possible when the lock up agreement, which has been active since the IPO listing of BioArctic in October 2017, expired on 12 April 2018.

For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Fredrik Järrsten, CFO, Karolinska Development AB
Phone: +46 70 496 46 28, e-mail: fredrik.jarrsten@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 and 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 Securities Markets Act. The information was submitted for publication, through the agency of Viktor Drvota, at 10:30 CET on 13 April 2018.

PDF    KD Press release BioArctic April 2018 (Eng)