STOCKHOLM, January 12 /PRNewswire/ -- Sweden The Swedish investment company Karolinska Development AB has made a significant investment in EvoStem Finland Oy that develops stem cell and other tissue engineering based treatments for veterinary and human use.
In 2007 EvoStem Finland Oy introduced its first product TendoStem(R), which is a stem cell based treatment service for tendon and ligament injuries in horses. TendoStem(R) is currently on the market in Scandinavia.
"With this investment, we will speed up our international growth and product development projects," says Dr. Minna Leppanen, the CEO of EvoStem Finland Oy.
"We are targeting global markets, and currently we are engaged in negotiations for expansion of our market area. The investment of Karolinska Development AB and its strong, long-time commitment gives us a solid ground for a long-term development of our company," Leppanen continues.
"EvoStem has demonstrated that stem cell therapy for regenerative medicine is ready for the market. With our investment in EvoStem we strengthen our presence in the cell therapy area where we expect strong growth and medical progress," comments Investment Manager Hans-Peter Ekre, Karolinska Development AB.
About EvoStem Finland Oy
EvoStem Finland Oy develops, produces and markets stem cell based treatment methods for animals and man. The company's current focus is on orthopaedic and sports medicine applications. EvoStem Finland Oy was founded in 2005 as a spin-off of Tampere University Institute of Regenerative Medicine Regea and is based in Tampere, Finland.
http://www.evostem.com
About Karolinska Development
Managing one of the largest portfolios of life science research companies in Europe, Karolinska Development is a Swedish investment company using a unique, highly cost effective model to commercialize internationally renowned life science innovations. Professionals in business development and management, supported by a network of experienced technical specialists, ensure fast and efficient development. This enables Karolinska Development to rapidly build value in high risk opportunities, through long term lead investor position from seed stage; developing the medical products of the future. Karolinska Development's office is located at the Karolinska Institutet Science Park, Solna/Stockholm Sweden.
CONTACT: For more information, please contact: CEO Minna Leppanen, EvoStem
Finland Oy, mobile +358-40-504-4423, minna.leppanen(at)evostem.com;
Investment Manager Hans-Peter Ekre, Karolinska Development AB, mobile
+46-70-533-67-47, hans-peter.ekre(at)karolinskadevelopment.com
