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Promimic named as one of Sweden's hottest technology companies

Stockholm - Sweden – March 31, 2011, Promimic, 25 percent owned by Karolinska Development, has been chosen by the papers Affärsvärlden och Ny Teknik as one of Sweden's 33 Hottest Young technology companies for 2011. Promimic has been chosen for the company's nano-thin synthetic bone surface, which is considered to be unique and to have a large international market potential.

This year has been tougher than ever to get into 33-list. Over 200 companies were nominated, and many of them were present at the award ceremony and dinner held at Berns Salonger in Stockholm last night.

"We are very pleased to be on the list, says Ulf Brogren, CEO of Promimic. So far during 2011 we have had time to complete a new share issue and get approval from FDA for our implant surface. Now to be one of the 33 hottest technology companies in Sweden feels like an exciting continuation of the year.

The country's 33 hottest technology companies, appointed each year by the editorial staff of the Affärsvärlden and Ny Teknik is based on their overall assessment of companies’ innovation and business potential. In addition, the company must be based in Sweden, be less than seven years old and not listed on a stock exchange.

Articles in Affärsvärlden and Ny Teknik (only in Swedish)

http://www.nyteknik.se/33listan/article3139927.ece
http://www.affarsvarlden.se/hem/nyheter/article3138669.ece

For further information, please contact:
Ulf Brogren, CEO Promimic
Phone: +46 (0) 31-772 80 22, e-mail: ulf.brogren@promimic.se 

TO THE EDITORS

About Promimic
Promimic is a Gothenburg based company that develops and commercializes products within the area of biomaterials. Promimic products, HANANO™ Surface, belong to a new generation of implant surfaces. The nanometer-thin surface is based on the substance hydroxyapatite (HA), which by size, shape, structure and chemistry mimics the living bone tissue. The similarity with human bone facilitates the integration of the implants. Since the HANANO™ Surface can be applied as an extremely thin layer (20 nanometers) it will effectively covers all parts of the implant surface, even on highly porous implant materials.

About Karolinska Development
Karolinska Development aims to create value for investors, patients, and researchers by developing innovations from world class research into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP these to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out licensing of products. This will result in upfront payments, milestone payments and royalties.

An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading Nordic universities, delivers a continuous flow of innovations.

Karolinska Development’s flexible exit strategy enables projects to be exited at whichever stage of development offers the greatest return on investment, usually after Phase II clinical trials have indicated the desired pharmaceutical effect on patients - this being an important value enhancing step.

Today, the portfolio consists of over 40 projects at various stages, from concept development to Phase II clinical trials, twelve projects are in clinical trials with six in Phase II. The portfolio is particularly strong in the areas of cancer, dermatology, inflammation, cardiovascular disease, women's health and diseases that affect the central nervous system.

2011-03-31