Karolinska Development divests its holding in Lipidor
STOCKHOLM, December 13, 2017. Karolinska Development announces today the divestment of its holding in Lipidor AB. In connection with the divestment, Karolinska Development has entered into an agreement with a compensation in the form of an earn out, which gives the company the right to benefit from future value growth in Lipidor.
The divestment is part of Karolinska Development's ongoing efforts to optimize the composition of its investment portfolio. The book value of Karolinska Development's ownership in Lipidor amounted to SEK 3.6 million as at September 30, 2017.
"We divest our holding in Lipidor, but retain the right to a part of the future values that the company may generate. Similar earn out-agreements has previously proved capable of generating value for our shareholders," says Viktor Drvota, CEO, Karolinska Development.
Lipidor's technology AKVANO® is used to improve the properties of dermatological pharmaceuticals and skin care products.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: firstname.lastname@example.org
Fredrik Järrsten, CFO, Karolinska Development AB
Phone: +46 70 496 46 28, e-mail: email@example.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of nine companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire