Today: November 19, 2017, 3:19 pm
  
Business

Karolinska Development's portfolio company BioArctic intends to list on Nasdaq Stockholm

PR-Inside.com: 2017-09-13 08:03:01

STOCKHOLM - September 13, 2017. Karolinska Development's portfolio company BioArctic AB announces today that it intends to implement a listing of the company's B shares on Nasdaq Stockholm. BioArctic develops disease-modifying drugs based on monoclonal antibodies for the treatment of, among others, Alzheimer's disease and Parkinson's disease, and has a potential treatment for complete spinal cord injury currently in clinical phase. Karolinska Development's shareholding in BioArctic amounts to 3.17 percent. Based on the company valuation carried out in conjunction with listing preparations, this corresponds to a value of SEK 48m, which is approximately 80 times higher than Karolinska Development's investment in the company.

The development of BioArctic's most advanced drug candidate BAN2401 is conducted in collaboration with the international pharmaceutical company Eisai. A phase 2b trial is currently underway in patients with Alzheimer's disease at an early stage. BioArctic is also engaged in the development of drugs against Parkinson's disease in collaboration with Abbvie. A treatment of complete spinal cord injury, developed in-house, is currently being evaluated in a Phase 1/2 study.

"It is gratifying that BioArctic has developed so well that the company is now ready for a listing on Nasdaq Stockholm. The listing distinctly reveals the value that can be created through successful drug development. The indicated valuation of Karolinska Development's shareholding in BioArctic in conjunction with the IPO is SEK 48 million, which is approximately 80 times higher than our investment in the company," says Viktor Drvota, CEO, Karolinska Development.

As of June 30, 2017, the appreciated value of Karolinska Development's shareholding in BioArctic amounted to SEK 0.6m, which implies an increase of SEK 47.4m.
For further information, please contact:

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

Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: christian.tange@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 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 Viktor Drvota, at 08.00 CET on September 13, 2017. 

Pressmeddelande BioArctic september 2017 (ENG)



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




# 724 Words
Related Articles
More From The Author
Raycap Introduces New DIN Rail Low Voltage [..]
Raycap, the developer of the unique patented Strikesorb surge protection technology, has announced a new generation of low voltage [..]
Stackla Named Top Five Best Place to [..]
Stackla : Stackla was named the fifth best place to work : “We’re incredibly honoured to be ranked number five [..]
SDLP - Seadrill Limited Restructuring Update
London, United Kingdom, September 12, 2017 - Seadrill Partners LLC ("Seadrill Partners" or the "Company") announces [..]
NADL - NADL Announces Comprehensive Restructuring Plan [..]
Hamilton, Bermuda, September 12, 2017 - North Atlantic Drilling Ltd. ("NADL" or the "Company"), a majority owned [..]
SDRL - Seadrill Announces Comprehensive Restructuring Plan [..]
Hamilton, Bermuda, September 12, 2017 - Seadrill Limited ("Seadrill" or the "Company") has entered into [..]
 
More From Business
JCB Special Offer at Changi's Mystical Garden [..]
SINGAPORE, Nov 17, 2017 - (ACN Newswire) - Changi Airport has teamed up with Sanrio, creators of characters beloved around [..]
Destination EU2018: Lithuania and Singapore Forge New [..]
SINGAPORE / VILNIUS, Nov 15, 2017 - (ACN Newswire) - Invest Lithuania and Singapore FinTech Association today signed a landmark [..]
Hong Leong Finance Chooses Kamakura's Risk Management [..]
Asset and Liability Management, Fund Transfer Pricing, and Liquidity Management SINGAPORE, Nov 14, 2017 - (ACN Newswire) - [..]
Tenant Direct- Letting Agents Southampton
Tenant Direct- Letting Agents Southampton Looking for the help of letting agents in Southampton? When it comes to finding a [..]
Book Theory Test Today - Are you [..]
Book Theory Test Today - Are you looking to book a driving test NI? The time has come for you [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.