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Karolinska Development divests its holding in Athera Biotechnologies

Karolinska Development divests its holding in Athera Biotechnologies

STOCKHOLM - December 3, 2015. Karolinska Development AB (Nasdaq Stockholm:
KDEV) today announces that it divests its entire shareholding in the drug
development company Athera Biotechnologies AB to a consortium led by The
Foundation for Baltic and East European Studies (Östersjöstiftelsen) and
Industrifonden. This further focuses Karolinska Development's portfolio in line
with its strategy to become a leading Nordic venture capital company focused on
generating value for patients and shareholders.

Jim Van heusden, CEO of Karolinska Development, says: “I am very pleased to
announce that we have concluded the divestment of Athera Biotechnologies to an
investment consortium that will fund the further development of the company’s
lead product, PC-mAb. This deal also allows us to benefit from Athera’s future
success via an earn-out agreement with potential significant future value.”

As part of the agreement, Karolinska Development and KCIF Co-Investment Fund
KB, a holding company jointly owned by the European Investment Fund and
Karolinska Development, will transfer their entire shareholdings in Athera
Biotechnologies to the consortium led by Östersjöstiftelsen and Industrifonden
in an earn-out agreement. The divestment has no impact on the latest reported
fair value and no further financial details on this transaction will be

Concurrently with the agreement, the consortium is investing SEK 24 million
into Athera to fund further clinical development of Athera’s lead project
PC-mAb, currently in clinical Phase I studies, to become a Phase II-ready
project. PC-mAb provides an opportunity to address the need for improved
secondary prevention after revascularization in severe peripheral artery
disease (PAD) patients and reduce the associated risks for complications and
new cardiovascular disease events.

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

David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail:


About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying
medical innovation and investing in the creation and growth of companies
developing these assets into differentiated products that will make a
difference to patients’ lives and provide an attractive return on investment.

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 12 companies targeting
opportunities in innovative treatment for life-threatening or serious
debilitating diseases.

The Company is led by a team including investment professionals with strong
venture capital backgrounds, experienced company builders and entrepreneurs,
with access to a strong global network.

For more information, please visit

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