CHANGE IN NUMBER OF SHARES AND VOTES IN KARO BIO (PUBL)

Stockholm, January 31, 2011 - Karo Bio AB (publ) (Reuters: KARO.ST) today announced with reference to Chapter 4, Section 9 of the Swedish Financial Instruments Trading Act (SFS 1991:980) that the company’s total number of shares as per January 31, 2011 amounts to

387 063 972, corresponding to an equal number of votes. The increase in the number of shares and votes results from an issue of 232 238 383 shares under Karo Bio’s rights issue that was announced on October 26, 2010.

For further information please contact:
Fredrik Lindgren, CEO
Mobile: +46 705 616 177

Erika Söderberg Johnson, CFO and VP Investor Relations
Mobile: +46 70 720 4820

About Karo Bio

Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for unmet medical needs. Karo Bio’s vision is to become a pharmaceutical company with sustainable profitability, commercial products and a competitive project portfolio.

Karo Bio runs a number of development projects within the indication areas cardiovascular and metabolic diseases, neuropsychiatry, inflammation, cancer and women’s health. An important foundation for the company’s activities is its unique knowledge of nuclear receptors as target proteins for the development of novel pharmaceuticals, as well as related mechanisms of action. Important processes and competencies within the company include structurally based research, drug discovery, preclinical and clinical development, and medical and regulatory expertise.

Karo Bio has the capacity to process select compounds for niche indications through the whole development chain, while compounds addressing large patient groups require development collaborations or outlicensing at some stage in the process. In addition to proprietary projects, Karo Bio has three strategic collaborations with international pharmaceutical companies.

Karo Bio, headquartered in Huddinge, has 70 employees, and is listed on NASDAQ OMX Stockholm since 1998 (Reuters: KARO.ST).

Karo Bio publishes this information in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was published on January 31, 2011, at 08:30 am CET.

This press release is also available online at: www.karobio.se and www.newsroom.cision.com

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