Karolinska Development AB Portfolio Company Promimic AB And Danco Announce Completion Of U.S. Production Line For Hanano Surface Medical Implant Coating

STOCKHOLM - October 19, 2016. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Promimic AB, an innovative biomaterials company, and its partner Danco Anodizing have successfully completed the production line in the USA for Promimic's HAnano Surface coating for orthopedic and dental implants

Details from the Promimic press release follow:

Promimic and Danco entered a strategic partnership in March 2016 under which Danco became the preferred process partner for Promimic for the USA and China medical implant markets. Danco has also invested in the production line for HAnano Surface at its manufacturing facility in Warsaw, IN, USA.

Promimic’s HAnano Surface represents a new era of implant surfaces, based on bio-mimicking synthetic bone minerals. The unique and proprietary HAnano Surface is only 20 nanometers thin and can be applied to almost any implant material. It has been shown to increase the anchoring strength and integration of medical implants with surrounding bone tissue in over 20 pre-clinical studies. The HAnano Surface is already in clinical use on dental implants in Brazil. Promimic recently raised SEK 23.8 million to establish its own sales operations in the US.

Danco Anodizing has been a leader in the processing of titanium, stainless steel, and aluminum parts for the orthopedic industry since 1992 and works with many of the leading orthopaedic implant companies on the US market.

Ulf Brogren, Promimic CEO, said: “We are excited to finalize the production line with our strategic partner Danco. We firmly believe this will further increase already strong interest in Promimic’s innovative technology from implant companies supplying the US and Chinese markets. The new US production site will facilitate easy access and minimal investments for our customers, giving them flexibility and a faster route to market.”

Dean Zentz, Danco VP Operations, said: “Danco is pleased to be a part of this exciting venture with Promimic and is confident Promimic’s technology and our manufacturing expertise will offer our customers an improved solution for medical implants.”

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