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Karolinska Development sells 13 companies

Friday, 21 December 2012
Research and development company, Karolinska Development AB announced today that a syndicate led by the life science investor, Rosetta Capital Limited (“Rosetta”) will acquire a minority share in Karolinska Development’s holdings in 13 of its 25 portfolio companies for Skr 220 million.

For the purpose of the transaction, Karolinska Development will transfer 13 of its portfolio company holdings to a new private holding company (“KDev Investments AB”), the company said in a press release.

The KDev Investments portfolio will include both early and clinical stage pharmaceutical assets as well as some technology assets. Rosetta will acquire 7.33% of the common shares in KDev Investments AB for Skr 110 million and preference shares in KDev Investments AB for a further Skr 110 million.

Torbjörn Bjerke, CEO of Karolinska Development commented n the press release: “This deal shows the value that Karolinska Development has created in recent years. Our financial position is significantly strengthened and this will enhance our ability to build further value in both KDev Investments as well as the rest of our portfolio, by taking products onwards to the point where we can secure partnerships with pharmaceutical companies as well as trade sales of portfolio companies.”

Karolinska Development, whose business model is to select the most commercially attractive medical innovations; Develop innovations to the stage where the greatest return on investment can be achieved; and commercialise the innovations through the sale of companies or out-licensing of products feels that "It increases the possibility for very good business going forward and it allows us to invest more in companies we have until they become ripe for exits, "the CEO said.
Details of this development from Karolinska Development could be obtained from here.
By scancomark.com Team

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