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2018-09-24

Karolinska Development AB (publ): Karolinska Development's portfolio company Asarina Pharma is listed on Nasdaq First North

STOCKHOLM, 24 September 2018. Karolinska Development's portfolio company
Asarina Pharma will today be listed on Nasdaq First North in Stockholm. In
connection with the listing, Asarina Pharma is issuing 6.8 million shares.
The issue price of SEK 21 gives Asarina Pharma a pre money valuation of SEK
172 million. Conditioned that the over-allotment option of an additional 0.35
million shares is fully exercised, Asarina Pharma will be provided with a
total of SEK 150.2 million before issue costs.

Asarina Pharma is a Swedish biotech company focused on chronic diseases
associated with the menstrual cycle. The portfolio company is developing the
drug candidate sepranolone as a treatment for premenstrual dysphoric disorder
(PMDD) and premenstrual migraine. A Phase IIb study is currently underway in
PMDD with expected completion by the end of 2019. Furthermore, Asarina Pharma
is planning a clinical Phase IIa study in menstrual migraine for the first
half of 2019.

Karolinska Development is a passive investor in Asarina Pharma and will have
an ownership of 1.2 percent in the company after the share issue and assuming
that the over-allotment option is fully exercised.

For further information, please contact :

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

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 visitwww.karolinskadevelopment.com

KD Press release Asarina Pharma September 2018
http://hugin.info/143071/R/2217204/866301.pdf

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This announcement is distributed by West Corporation on behalf of West Corporation 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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