Leading executives in Karessa Pharma AB acquire stock options in Karessa Pharma Holding AB
Karessa Pharma Holding AB announces today that the stock option program adopted at the Annual General Meeting on 29th of May 2017 has now been implemented. Of the total of 330,000 options in Karessa Incentive AB, 280,000 have been allocated to leading executives.
Karessa Pharma Holding AB's wholly owned subsidiary, Karessa Incentive AB, has transferred 230,000 options to CEO Michael Brobjer and 50,000 to Chief technology officer Erik Mascher in Karessa Pharma Holding AB.
The options were issued by a decision at Karessa Pharma Holding AB's Annual General Meeting 2017. Each options entitle the holder to subscribe a new share of SEK 20 at the latest on 29thof May 2020.
The options are transferred to CEO Michael Brobjer and CTO Erik Mascher on market terms at a price determined on the basis of a calculated market value of the options by using the Black & Scholes valuation model.
The purpose of the stock option program is to create conditions for retaining and recruiting competent staff as well as increasing the motivation of employees. The Board of Directors considers the above-mentioned stock option program to be beneficial to the Group and the company's shareholders.
This information is such information that Karessa Pharma Holding AB (publ) is obliged to disclose public according to the European Union's Market Abuse Regulation. The information was provided by the contact person below for publication on October 9, 13.00 CET.
FOR MORE INFORMATION, PLEASE CONTACT:
Michael Brobjer, CEO, Karessa Pharma Holding AB (publ)
Tel: +46 8-768 22 33
About Karessa Pharma Holding AB
Karessa develops new pharmaceuticals based on a patented drug delivery technology and proven pharmaceutical substances in order to offer men with impotence problems a fast and more reliable effect. Karessa is listed on Nasdaq First North and has Remium as Certified Advisor.
About Karessa's pharmaceutical projects for treatment of erectile dysfunction
Current treatment of impotence is well proven and has a favorable safety profile, but many patients are bothered by the delayed onset and that it may vary depending on food intake. These problems are a consequence of the drug being given as tablets and thus has to pass the stomach and liver before reaching the right place in the body.
Karessa has developed a buccal film with Vardenafil (K-03). The film is small and is placed on the inside of the chin where it dissolves as the drug is delivered directly into the bloodstream via the oral mucosa. By this way the drug is delivered into the body and a quick and reliable onset is achieved. This completely regardless of whether you just have been eaten a good dinner.
Impotence affects many middle-aged men and has an increased prevalence of age. The global market for impotence drugs is estimated to a value of approximately SEK 35 billion.
For more information, please visit karessa.se