KARO BIO PUBLISHES ANNUAL REPORT
Karo Bio’s Annual Report 2012 has been published and is available on the company’s website www.karobio.se.
Karo Bio is a development company without products on the market and the operations are financed partly by revenues from agreements and partly through the company’s financial assets.
In the annual report’s description of the objectives and strategies it is stated that Karo Bio’s goal is to achieve a neutral cash flow. The Board believes that the company has the potential to reach this goal in the longer term. Karo Bio estimates that conditions exist to finance operations until around the end of the first quarter of 2014, through revenues mainly from and in the extension of the existing agreement, and cost adjustments. In line with this, the audit report makes a reference to the description in the annual report.
The annual report is in Swedish. An English translation of the report will be available on the website within a few days.
For further information, please contact:
CEO Per Bengtsson: cell: +46 734 474 128 or by e-mail: email@example.com
About Karo Bio
Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for large medical needs. The world-leading knowledge of nuclear receptors as target proteins for the development of pharmaceuticals and the related mechanisms of action, are utilized as a foundation for developing novel, more effective and safer pharmaceuticals. The company runs drug development projects mainly within the therapeutic areas neuropsychiatry, inflammation, autoimmune diseases and cancer. The company has a number of strategic agreements and collaborations with international pharmaceutical companies. Karo Bio is based in Huddinge, Sweden, has 43 employees and is listed on NASDAQ OMX Stockholm.
This press release is also available online at www.karobio.com and www.newsroom.cision.com.