Karolinska Development AB Release: Company Portfolio Company Promimic AB Appoints Magnus Larsson As New CEO And Launches US Sales Operation

STOCKHOLM - January 18, 2017. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Promimic AB, an innovative biomaterials company, developing and commercializing medical implant technologies that enhance bone healing, today announces the appointment of Magnus Larsson as Chief Executive Officer. He replaces Ulf Brogren, who relocates to the US to lead Promimic Inc., the Company's new sales operation in North America as Head of Sales.

Details from the Promimic announcement follow:

Magnus Larsson has a solid background in Sales and Marketing, having held a number of leadership positions in the international dental implant industry over the last 15 years. Most recently he was Director, Global Market Development, at Dentsply Sirona Implants, Mölndal, Sweden.

Former CEO Ulf Brogren is relocating to the US to launch Promimic Inc.’s new North American sales operations in Austin, Texas. This new commercial operation is aimed bringing Promimic closer to the market and to its customer base in North America, the largest market for orthopedic and dental implants. Promimic Inc. will also benefit from its strategic partnership with DANCO Anodizing, signed in 2016, under which Danco became the preferred process partner for Promimic for the USA and China medical implant markets.

Tord Lendau, Chairman of the Board, said: “We are pleased to welcome Magnus Larsson to the Company as CEO. Magnus brings valuable global leadership experience and a wide network from his time in the dental implant industry. With this appointment and the launch of Promimic Inc. under Mr Brogren’s leadership, we are now in much better position to meet our strategic commitment to our customers in North America and build our business in this important market.”

For further information, please contact:

Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: jim.van.heusden@karolinskadevelopment.com

Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: christian.tange@karolinskadevelopment.com

David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk

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