Trinity Delta Report
Trinity Delta Report - November 2016
Over the past two years Karolinska Development has successfully repositioned itself, with the investment strategy firmly focussed on disruptive technologies that could materially alter current treatment models. New management has regalvanised the entire organisation, with a greater emphasis on an active investment in these mid- and late-stage opportunities. Our DCF-based valuation of the four main investments alone suggests a value of SEK473m, SEK9.10 per share, which represents an uplift of 52% to the current market value, with the remaining six portfolio companies representing further upside.