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Karolinska Development AB and Uminova Invest Sign Co-operation Agreement



1/14/2010 8:50:00 AM

STOCKHOLM and UMEA, Sweden, January 14 /PRNewswire/ -- Karolinska Development AB and Uminova Invest AB have entered into a co-operation agreement that will enrich the flow of investment opportunities available to Karolinska Development and enable cost effective commercial development for Uminova Invest's portfolio companies. The agreement involves evaluation of potential investments; advise to existing portfolio companies as well as exit issues.

Uminova Invest is a regional private equity capital firm providing capital and competence to prospective growth companies and entrepreneurs with a connection to the Umea University or other educational and research activities in the county of Vasterbotten.

"Umea region excels having created a very strong cluster of life science innovations over the past years and this agreement offers us access to some very exciting commercial opportunities", says Conny Bogentoft, CEO of Karolinska Development.

"Over the past years we have had an ongoing exchange with Karolinska Development, this has now been formalized. This formal co-operation agreement provides further opportunities to create viable companies", says Jan Olsson, CEO of Uminova Invest.

About Karolinska Development

Karolinska Development manages one of the largest portfolios of life science companies in Europe.

Using a unique, highly cost efficient business model, the management team guides the commercialization of world class life science innovations, helping to shape the next generation pharma industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the company's projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 19 potential first in class products. http://www.karolinskadevelopment.com

About Uminova Invest

Uminova Invest focuses on prospective growth companies and people with interesting ideas and an entrepreneur spirit at a stage when the addition of capital and competence is vital for the company's growth. The idea, product or service must be unique with a high market potential, and must have a connection to the Umea University or other educational and research activities in the county of Vasterbotten. http://www.uminovainvest.se

CONTACT: For more information, please contact: Conny Bogentoft CEO
Karolinska Development, Tel: +46(0)706-88-61-43, e-mail:
conny.bogentoft@karolinskadevelopment.com; Jan Olsson CEO Uminova Invest,
Tel: +46(0)703-44-16-80, email: jan.olsson@uminovainvest.se


Read at BioSpace.com


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