Karolinska Development AB
Karolinska Development sells its stake in Axelar to Östersjöstiftelsen
Karolinska Development AB 27.03.2015 08:00 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- STOCKHOLM - March 27, 2015. Karolinska Development AB (STO: KDEV) today announces that it has sold its shares in Axelar AB to The Foundation for Baltic and East European Studies (Östersjöstiftelsen). The agreement is in line with Karolinska Development's new strategy to focus on the companies in the strategic portfolio. 'Karolinska Development's new strategy includes focusing on our strategic portfolio, an increased emphasis on leadership within our portfolio companies, proactively syndicating our investments with international co-investors and an investment strategy based on each portfolio company's unique possibility to generate attractive returns. The divestment of Axelar enables a redistribution of resources to our core strategic portfolio, thereby building long term value for our shareholders', says Jim Van heusden, CEO of Karolinska Development. As part of the agreement, KDev Investments, a holding company jointly owned by Karolinska Development and Rosetta Capital Limited, will transfer its shareholding in Axelar to Östersjöstiftelsen for an undisclosed up-front payment and earn-out payments. The sale has a marginal positive impact on the last published equity of Karolinska Development. 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 TO THE EDITORS About Karolinska Development AB Karolinska Development aims to create value for patients, researchers, investors and society by developing innovations from world class science into differentiated products that can be partnered. The business model is to: SELECT the most commercially attractive medical innovations that can potentially satisfy unmet medical needs; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. For more information, please visit www.karolinskadevelopment.com. Karolinska Development is listed on NASDAQ OMX (STO: KDEV). Karolinska Development may be required to disclose the information provided herein pursuant to the Securities Markets Act. News Source: NASDAQ OMX 27.03.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Karolinska Development AB Sweden Phone: Fax: E-mail: Internet: ISIN: SE0002190926 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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