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Karolinska Development announces Chairman Bo Jesper Hansen and CEO Jim Van heusden's decision to Step Down, and the promotion of Viktor Drvota to CEO

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STOCKHOLM - APRIL 20, 2017.

Karolinska Development AB (Nasdaq Stockholm: KDEV) announces that Bo Jesper Hansen, MD, PhD, Chairman of the Company's Board, has informed Karolinska Development's Nomination Committee that he will not stand for re-election at the 2017 Annual General Meeting. The Nomination Committee's proposals will be announced in a separate press release in connection with the notice of the 2017 Annual General Meeting which is due to take place on 24 May 2017.

Bo Jesper Hansen was appointed as Chairman in 2013.  Under his chairmanship, he initiated the successful transformation of Karolinska Development from a wide-ranging collection of early stage science-driven projects into a highly focused investment company with a portfolio of business-driven companies capable of delivering significant shareholder value. 

"Bo Jesper Hansen's broad industry and leadership experience has been crucial in guiding Karolinska Development through the most significant changes in the Company's history. We would like to thank him for his considerable efforts that have created a strong platform for Karolinska Development's future success." said Niclas Adler, chairman of the Nomination Committee of Karolinska Development. 

Karolinska Development also announces that its CEO, Jim Van heusden, PhD, has tendered his resignation and will formally leave the Company at the end of October 2017. 

"Jim Van heusden has done a remarkable job as the CEO of Karolinska Development.  Under his leadership, he successfully executed a major strategic turn-around that has positioned the Company to become a leading Nordic life science investment company.  Karolinska Development is now in an excellent shape, with its portfolio companies poised to deliver significant value generating milestones in the coming 12 - 18 months. With the strategic turn-around now complete we understand Jim's desire to look for new opportunities and wish him every success for the future," said Bo Jesper Hansen, Chairman of the Board of Karolinska Development.

"I would like to thank Bo Jesper Hansen and the Board for their unwavering support during the major strategic turn-around that we have implemented in the last two years. With these changes now finished I believe it is the appropriate time for me to look for a new challenge.  I am very proud of what we have achieved together and am convinced Karolinska Development is now in a much stronger position to deliver value for all its stakeholders from its portfolio of exciting therapeutic and med-tech companies." says Jim Van heusden, CEO of Karolinska Development.

The Board of Directors is pleased to announce the promotion of Viktor Drvota MD PhD as the Company's Chief Executive Officer, effective June 1 2017. Dr Drvota is currently Karolinska Development's Deputy Chief Executive Officer and Chief Investment Officer.
Bo Jesper Hansen, Chairman of the Board of Karolinska Development says: "I am extremely pleased to announce Viktor's promotion to the role of CEO. Since joining the Company in early 2016, Viktor has made an important contribution to the strategic turnaround that we have implemented. With his significant life sciences investment experience, centered on the Nordic region, and his impressive track record, Viktor is the ideal person to lead Karolinska Development through the next phase of its development."

Dr Drvota joined Karolinska Development as Chief Investment Officer in February 2016 and was promoted Deputy Chief Executive Officer in March 2017.  Dr Drvota brings more than 15 years of life science investment experience.  Prior to joining Karolinska Development he worked at SEB Venture Capital, where he was Head of Life Science from 2002 and a senior investment manager. Before joining SEB, Viktor was a practicing cardiologist at Huddinge University Hospital in Stockholm. He has been an Associate Professor in Cardiology at Karolinska Institutet, Stockholm, since 2002.

Dr Drvota says: "I am thrilled to take on the role of CEO in addition to my current position as Chief Investment Officer.  With the Company's strategic turnaround now complete, Karolinska Development is in excellent shape to deliver significant shareholder value as its portfolio companies deliver a number of important clinical and commercial milestones over the next 12 to 18 months."

For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: jim.van.heusden@karolinskadevelopment.com 

Viktor Drvota, Chief Investment Officer and Deputy CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com 

David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk

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.com

This 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 Jim Van heusden, at 08:00 am CEST on 20 April 2017.


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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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