Karolinska Development (publ.) Interim report January - September 2010


STOCKHOLM - Sweden, November 11, 2010. Karolinska Development AB announces publication of its Interim report, January-September 2010; the full report is available on the company's website.  


January - September 2010

  • Investments in portfolio companies, including subsidiaries and associates, during the period amounted to SEK 143.6m (145.2)
  • Cash flow during the period amounted to SEK -182.6m (-117.5)
  • The value of the total portfolio according to the International Private Equity and Venture Capital Valuation Board guidelines, including subsidiaries, associates and other financial investments, has at September 30, 2010 been calculated at SEK 1 556.6m compared to SEK 1 512.3m as of December 31, 2009
  •  Net asset value per share amounted to SEK 58,60 (62,70 as of December 31, 2009)
  • Revenue amounted to SEK 11.5m (23.4)
  • Profit / loss for the period amounted to SEK -114.9m (16.7)
  • Earnings / loss per share before dilution amounted to SEK -3,46 (0,62)

Third quarter July - September 2010

  • Investments in portfolio companies during the period amounted to SEK 55.7m  (44.9)
  •  Cash flow during the period amounted to SEK -80.1m (-47.7)
  • Revenue amounted to SEK 3.1m (9.4)
  • Profit / loss for the period amounted to SEK -15.3m (63.2)
  • Earnings / loss per share before dilution amounted to SEK -0,22 (2,34)

Significant events third quarter 2010

  • Karolinska Development announced the appointment of Mr. Torbjörn Bjerke as new CEO of the company in August. The position will be assumed in the fall of 2010. Mr. Conny Bogentoft will assume the position of Chief Scientific Officer of Karolinska Development.

Parent Company

January - September 2010

  • Revenue amounted to SEK 8.2m (5.8)
  • Operating loss amounted to SEK -95.3m (-75.0)
  • Investments in subsidiaries during the period amounted to SEK 43.1m and in associates and other financial investments to SEK 100.5m

For further information, please contact:

Gunnar Casserstedt  CFO, Phone: +46 73 068 37 00    

Conny Bogentoft  CEO, Phone: +46 70 668 61 43    

Karolinska Development  AB publ. discloses the information provided herein pursuant to the NASDAQ OMX Stockholm rules for issuers. The information was provided for public release on November 11, 2010, at 12:00 CET. This report has been prepared in both Swedish and English. In the event of any discrepancy in the content of the two versions, the Swedish version shall take precedence. 


About Karolinska Development
Karolinska Development manages one of the largest portfolios of life science companies in Europe. Using a unique business model, the company cost efficiently guides the commercialization of world class life science innovations. Since its inception in 2003, Karolinska Development has built a portfolio of some 40 companies. Among the company's projects, 12 candidate drugs are undergoing clinical trials and it is estimated that more than 20 substances have first-in-class potential. www.karolinskadevelopment.com



About Us

Karolinska Development aims to create value for investors, patients, and researchers by developing innovations from world class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading Nordic universities, delivers a continuous flow of innovations.


Documents & Links