Navigation Links
Karolinska Development and EIF Start Landmark Co-Investment Fund for Life Science Innovation

STOCKHOLM, November 20 /PRNewswire/ -- Karolinska Development AB today announced that the European Investment Fund (EIF) has entered into a co-investment agreement with the company. The co-investment fund will be managed by Karolinska Development and used to invest in the company's portfolio of early-stage pharmaceutical and medical technology companies. EIF has agreed to invest 26.7 M Euros in the co-investment fund. The agreement represents EIF's largest single investment in the Nordic region to date.

The agreement was concluded after EIF - the EU body for investment in small and medium-sized enterprises -carried out a thorough due diligence of Karolinska Development's strategy, competences and processes. Investments will be made over a four year period and the fund will be used alongside Karolinska Development's own investments in new projects, as well as for follow on investments in portfolio companies in the latter stages of clinical development.

EIF's Chief Executive, Richard Pelly summarised, "Not only is this a landmark transaction representing the largest single investment ever made by EIF into a Swedish fund, but it also demonstrates EIF's firm commitment to support Technology Transfer initiatives across Europe where a funding gap for innovative SMEs has been identified. This investment will help innovations from research organisations to reach the marketplace more quickly and will hopefully allow spin-out companies to reach their full potential working in conjunction with the Karolinska Development team."

Since 2003, Karolinska Development has built up a portfolio of 45 companies, making it one of the largest portfolios of life science companies in Europe. The company forms a key part of Karolinska Institutet's Innovation System, giving it access to world-class life science innovations from Karolinska Institutet as well as many other leading universities throughout the Nordic region.

Conny Bogentoft, CEO of Karolinska Development, said, "We are delighted to be able to establish this new co-investment fund with EIF. The fact that such an important EU body has agreed to make an investment of this magnitude is an enormous vote of confidence in ourbusiness model and the strength of our portfolio. This fund, together with the new share issue, due to take place before the end of the year, will put Karolinska Development in excellent financial shape for the important opportunities ahead. We are now working hard to ensure successful commercial exits for several of our more mature projects."

About Karolinska Development

Karolinska Development manages one of the largest portfolios of life science companies in Europe. Using a unique, highly cost efficient business model, the management team guides the commercialization of world-class life science innovations, helping to shape the next-generation pharma industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the company's projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 19 potential first in class products.

About The European Investment Fund

The European Investment Fund is the European body specialised in small and medium-sized enterprise (SME) risk financing. The EIF is part of the European Investment Bank (EIB) group and has a unique combination of public and private shareholders. It is owned by the EIB, the European Union - through the European Commission and 30 public and private financial institutions from 17 countries.

The EIF supports high-growth innovative SMEs by means of equity (venture capital and private equity) and guarantee instruments through a variety of financial institutions, using either its own funds, or those available through mandates given by the EIB, the EU, Member States or other third parties. Complementing the EIB's product offering, the EIF has a crucial role to play throughout the value chain of enterprise creation, from the early stages of intellectual property development and licensing to mid and later stage SMEs. The EIF fosters EU objectives in support of innovation, research and regional development, entrepreneurship, growth and job creation. For this investment, the EIF used funds from the European Investment Bank, the European Commission (Technology Transfer Pilot) as well as its own resources. The commercialisation of European research and Technology Transfer specifically is regarded as a key part of the Lisbon Strategy

    For more information, please contact:

    Conny Bogentoft, CEO, Karolinska Development AB
    Phone: +46-70 6886143 / e-mail:

    Piyush Unalkat, Investment Manager, European Investment Fund
    Phone: +34-91-436-0863, e-mail:

SOURCE Karolinska Development AB

SOURCE Karolinska Development 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. Karolinska Development Closes Fully Subscribed New Share Issue
3. Karolinska Development Portfolio Company Completes Successful Phase II Clinical Trial
4. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
5. Anesiva to Host Conference Call and Webcast Tomorrow to Discuss Encouraging Development in Zingo(TM) Program
6. Selection of Development Candidate Triggers $0.5 Million Milestone Payment to Ardea Biosciences, Inc.
7. Pharmatek Adds Cytotoxic and High-Potent Drug Development Capabilities to San Diego Laboratory
8. Global Experts Explore Entire Spectrum of Aids Vaccine Development
9. Vical Names Andrew de Guttadauro Vice President, Corporate Development
10. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
11. SemBioSys updates Apo AI development program
Post Your Comments:
(Date:6/27/2016)... 27, 2016 /PRNewswire/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" or ... its major shareholders, Clean Technology Fund I, LP and ... based venture capital funds which together hold ... a fully diluted, as converted basis), that they have ... entire equity holdings in Biorem to TUS Holdings Co. ...
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... Parallel ... clinical trials, announced today the Clinical Reach Virtual Patient Encounter CONSULT module ... circle with the physician and clinical trial team. , Using the CONSULT module, patients ...
(Date:6/27/2016)...  Liquid Biotech USA , ... Sponsored Research Agreement with The University of Pennsylvania ... cancer patients.  The funding will be used to ... clinical outcomes in cancer patients undergoing a variety ... employed to support the design of a therapeutic, ...
(Date:6/24/2016)... 24, 2016 Epic Sciences unveiled a ... susceptible to PARP inhibitors by targeting homologous recombination ... The new test has already been incorporated into ... cancer types. Over 230 clinical trials ... pathways, including PARP, ATM, ATR, DNA-PK and WEE-1. ...
Breaking Biology Technology:
(Date:4/15/2016)... CHICAGO , April 15, 2016  A ... companies make more accurate underwriting decisions in a ... offering timely, competitively priced and high-value life insurance ... health screenings. With Force Diagnostics, rapid ... and lifestyle data readings (blood pressure, weight, pulse, ...
(Date:3/31/2016)... , March 31, 2016   ... ("LegacyXChange" or the "Company") LegacyXChange is excited ... of its soon to be launched online site for ... ) will also provide potential shareholders a ... DNA technology to an industry that is notorious for ...
(Date:3/22/2016)... PUNE, India , March 22, 2016 ... new market research report "Electronic Sensors Market for ... Fingerprint, Proximity, & Others), Application (Communication & ... and Geography - Global Forecast to 2022", ... consumer industry is expected to reach USD ...
Breaking Biology News(10 mins):