Navigation Links
Karolinska Development Closes Fully Subscribed New Share Issue
Date:1/8/2009

STOCKHOLM, January 8 /PRNewswire/ -- Karolinska Development AB (publ) recently closed a fully subscribed new share issue, raising SEK 147 million (USD 19 million). Its major shareholders - Karolinska Institutet Holding AB, Tredje AP-fonden; Ostersjostiftelsen; Nasudden; Foundation Asset Management; and Praktikerinvest - took their share of the new issue, while new investors participated with SEK 50 million. Karolinska Development was advised by EFG Bank AB.

The new issue, combined with current liquidity, secures the investment program of Karolinska Development for a further two years.

"As a life science investment company with a focus on developing pharmaceutical and medical technology products, we have a compelling spread of investments in this area. We currently have nine companies with projects in the clinical phase, facilitating as many exits if results from ongoing studies are positive," says Conny Bogentoft, CEO of Karolinska Development.

Karolinska Development has a highly cost effective business model, and has built one of Europe's largest portfolios of life science research companies. Since its inception five years ago, it has evaluated over 1,000 projects, investing SEK 600 million in a portfolio of 38 companies.

"This is a tremendous achievement and compares favorably to the amounts traditionally invested by pharmaceutical companies with similar objectives in mind. Our ambition is to exit a number of companies in 2009 and 2010 and preparations for a public listing of Karolinska Development in the coming years are ongoing," says Conny Bogentoft.

Since the inception of Karolinska Development in 2003, EFG Bank AB has acted as its advisor on capital raising. Including the most recent issue, a total of SEK 1 billion has been raised.

"In spite of a turbulent financial climate, the new issue has successfully been completed. The management of Karolinska Development has been able to demonstrate the robustness of the business model and the significant growth potential in the company," says Martin Nilsson, CEO EFG Bank.

A prospectus of this offering has been filed with the Swedish Financial Supervisory Authority, Finansinspektionen

About Karolinska Development

Managing one of the largest portfolios of life science research companies in Europe, Karolinska Development is a Swedish investment company using a unique, highly cost effective model to commercialize internationally renowned life science innovations. Professionals in business development and management, supported by a network of experienced technical specialists, ensure fast and efficient development. This enables Karolinska Development to rapidly build value in high risk opportunities, through long term lead investor position from seed stage; developing the medical products of the future.

Karolinska Development's office is located at the Karolinska Institute Science Park, Solna/Stockholm Sweden http://www.karolinskadevelopment.com

About EFG Bank AB

EFG Bank is a subsidiary of EFG International and a member of EFG Group, the third largest banking group in Switzerland by Tier-1 Capital. In Sweden and in other Nordic countries, EFG Bank offers asset management services and financial investments to institutions, private individuals and financial advisors. EFG Bank is headquartered in Stockholm, Sweden. http://www.efgbank.se

EFG International is a global banking group offering services within private banking and asset management. EFG International operates in 55 locations in over 30 countries. It is headquartered in Zurich and has circa 2,200 employees. EFG International's registered shares (EFGN) are listed on the SIX Swiss Exchange.

    Practitioners of the craft of wealth management

    Contacts

    For further information contact:

    Conny Bogentoft
    CEO Karolinska Development
    +46-70-668-6143
    conny.bogentoft@karolinskadevelopment.com

    Martin Nilsson
    CEO EFG Bank
    +46-73-699-6401
    martin.nilsson@efgbank.se


'/>"/>
SOURCE Karolinska Development AB and EFG Bank AB
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Karolinska Development Strengthens its Management Team With the Appointment of Dr Carl Harald Janson
2. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
3. Anesiva to Host Conference Call and Webcast Tomorrow to Discuss Encouraging Development in Zingo(TM) Program
4. Selection of Development Candidate Triggers $0.5 Million Milestone Payment to Ardea Biosciences, Inc.
5. Pharmatek Adds Cytotoxic and High-Potent Drug Development Capabilities to San Diego Laboratory
6. Global Experts Explore Entire Spectrum of Aids Vaccine Development
7. Vical Names Andrew de Guttadauro Vice President, Corporate Development
8. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
9. SemBioSys updates Apo AI development program
10. MedImmune Licenses Reverse Genetics Technology to Novartis for Use in Influenza Vaccine Development and Production
11. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , ... June 23, 2016 , ... ... YM (Yeast and Mold) microbial test has received AOAC Research Institute approval 061601. ... microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory and ...
(Date:6/23/2016)... 23, 2016  The Biodesign Challenge (BDC), a university ... to harness living systems and biotechnology, announced its winning ... New York City . ... showcased projects at MoMA,s Celeste Bartos Theater during the ... MoMA,s senior curator of architecture and design, and ...
(Date:6/23/2016)... ... June 23, 2016 , ... Supplyframe, the ... the Supplyframe Design Lab . Located in Pasadena, Calif., the Design Lab’s ... how hardware projects are designed, built and brought to market. , The Design ...
(Date:6/23/2016)... ... June 23, 2016 , ... In a new case ... Denmark detail how a patient who developed lymphedema after being treated for breast cancer ... could change the paradigm for dealing with this debilitating, frequent side effect of cancer ...
Breaking Biology Technology:
(Date:3/23/2016)... March 23, 2016 ... Sicherheit Gesichts- und Stimmerkennung mit Passwörtern ... (NASDAQ: MESG ), ein führender Anbieter ... Unternehmen mit SpeechPro zusammenarbeitet, um erstmals dessen ... wird die Möglichkeit angeboten, im Rahmen mobiler ...
(Date:3/22/2016)... PROVO and SANDY, Utah ... Ontario (NSO), which operates the highest sample volume laboratory ... and Tute Genomics and UNIConnect, leaders in clinical sequencing ... announced the launch of a project to establish the ... panel. NSO has been contracted by ...
(Date:3/18/2016)... March 18, 2016 --> ... Biometrics, ICT, Manned & Unmanned Vehicles, Physical infrastructure and Perimeter ... companies in the border security market and the continuing migration ... Europe has led visiongain to publish ... success. --> defence & security companies in ...
Breaking Biology News(10 mins):