Karolinska Development AB (KDEV) has sold its entire ownership in the portfolio company of Pharmanest AB. KCIF Co-investment Fund KB, a holding company jointly owned by the European Investment Fund and Karolinska Development, also sold its ownership interest. The divestment totaled Swedish Korner 23 million to Karolinska Development.
In what amounted to a passive investment of about 10.3%, Karolinska Development divested in the Swedish biotech venture developing drugs in the following therapeutic targets:
- Urology and urogynological diseases
- Colorectal disorders
- Radiotherapy and Invasive oncological procedures
Karolinska Development AB is partially owned by Karolinska Institutet Holding AB, which is a holding company of Karolinska Institutet. The Karolinska Institutet Holding AB is the parent holding company of five subsidiary companies. They own 8% of Karolinska Development which has invested in about 40 companies.
Karolinska Development focuses in the following areas:
- Focused investments in ground-breaking medical innovations with high commercial potential
- Professionally structured and broad development programs that minimize the risk of set-backs
- Well-defined exit strategies for every individual portfolio company