First day of trading in Karolinska Development's portfolio company BioArctic's shares on Nasdaq Stockholm
STOCKHOLM - 12 October, 2017. Karolinska Development's portfolio company BioArctic Neuroscience AB was today listed on Nasdaq Stockholm. Karolinska Development's holdings in BioArctic amounted to 3.17% prior to the listing. Based on the issue price SEK 24 per B-share this corresponds to a value of SEK 48 million, approximately 80 times more than Karolinska Development's investment in the company.
Karolinska Development announced in a press release on 13 September 2017 BioArctic's intention to list the company's B-shares. The trading in the company's shares commenced today on Nasdaq Stockholm.
BioArctic is a research-intensive company that develops innovate biological treatments with the potential to improve the quality of life for patients with neurodegenerative diseases such as Alzheimer's and Parkinson's, moreover for patients with severe spinal cord injuries.
"The value of Karolinska Development's ownership in BioArctic, at the time of the listing, amounts to SEK 48 million and we are looking forward to closely follow the company's continued development as a listed company on Nasdaq Stockholm", says Viktor Drvota, CEO, Karolinska Development.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: email@example.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: firstname.lastname@example.org
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of nine companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.comThis information is information that Karolinska Development AB (publ) (Nasdaq Stockholm: KDEV) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Viktor Drvota, at 08.00 CEST on 12 October 2017.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire
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