Karolinska Development Closes Fully Subscribed New Share Issue
Posted on: Thursday, 8 January 2009, 07:00 CST
The new issue, combined with current liquidity, secures the investment program of Karolinska Development for a further two years.
"As a life science investment company with a focus on developing pharmaceutical and medical technology products, we have a compelling spread of investments in this area. We currently have nine companies with projects in the clinical phase, facilitating as many exits if results from ongoing studies are positive," says Conny Bogentoft, CEO of Karolinska Development.
Karolinska Development has a highly cost effective business model, and
has built one of
"This is a tremendous achievement and compares favorably to the amounts traditionally invested by pharmaceutical companies with similar objectives in mind. Our ambition is to exit a number of companies in 2009 and 2010 and preparations for a public listing of Karolinska Development in the coming years are ongoing," says Conny Bogentoft.
Since the inception of Karolinska Development in 2003, EFG Bank AB has
acted as its advisor on capital raising. Including the most recent issue, a
total of
"In spite of a turbulent financial climate, the new issue has
successfully been completed. The management of Karolinska Development has
been able to demonstrate the robustness of the business model and the
significant growth potential in the company," says
A prospectus of this offering has been filed with the Swedish Financial Supervisory Authority, Finansinspektionen
About Karolinska Development
Managing one of the largest portfolios of life science research companies
in
Karolinska Development's office is located at the Karolinska Institute
Science Park, Solna/
About EFG Bank AB
EFG Bank is a subsidiary of EFG International and a member of EFG Group,
the third largest banking group in
EFG International is a global banking group offering services within
private banking and asset management. EFG International operates in 55
locations in over 30 countries. It is headquartered in
SOURCE Karolinska Development AB and EFG Bank AB
Source: PR Newswire
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