Karolinska Development Realizes Value Increase in the Portfolio Company Bioarctic Through a Partial Exit and Receives SEK 35 Million
STOCKHOLM 6 November 2017. Karolinska Development today announces that the company has sold 1.5 million shares to a total amount of SEK 35 million in the portfolio company BioArctic Neurosciences AB in conjunction with the company being listed. After the transaction, Karolinska Development's holdings in BioArctic amounts to 541,661 shares.
"Karolinska Development's partial exit in BioArctic is a clear example of our ability to realize a good return on our investments. The proceeds from the equity sale strengthens our cash position, and our remaining ownership in BioArctic gives us the opportunity to take part in a potential future value increase in the portfolio company," says Viktor Drvota, CEO, Karolinska Development.
BioArctic is a research-intensive company that develops innovative biological treatments with the potential to improve the quality of life for patients with neurodegenerative diseases such as Alzheimer's and Parkinson's, moreover for patients with severe spinal cord injuries.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: email@example.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: firstname.lastname@example.org