Karolinska Development announces the formation of KDev Oncology AB - Carl Harald Janson appointed as CEO
STOCKHOLM, SWEDEN - February 13, 2012. Today, Karolinska Development AB announced the formation of a new, focused oncology group called KDev Oncology AB, a fully owned subsidiary of Karolinska Development AB. KDev Oncology will hold new oncology project companies, including the existing portfolio company Akinion Pharmaceuticals AB. Carl Harald Janson has been appointed as CEO for KDev Oncology.
Karolinska Development's ambition is to improve focus and efficiency in this important therapeutic area by developing new oncology projects in the company KDev Oncology. The formation of KDev Oncology enables Karolinska Development and its co-investors to accumulate projects within a specific therapeutic area to obtain synergies and critical mass. Starting with an existing company, Akinion Pharmaceuticals, KDev Oncology will be able to include another four to five new project companies within oncology.
Dr. Torbjörn Bjerke, CEO, Karolinska Development AB:
"We are very pleased to announce our increased focus and continued investment in the oncology area. This is an important, strategic step for Karolinska Development. We obtained significant synergies by collecting our dermatology assets into Pergamum, and intend to start using this model for all new projects where we see that we can improve the efficiency of the invested capital. It is our strong belief that this will not only help recruit top competence within oncology and attract new pharmaceutical projects, but also that it will attract co-investments and support exits when projects are successful."
Carl Harald Janson has been appointed as CEO of KDev Oncology AB. He has served as Investment Manager at Karolinska Development from 2008 to 2011 and is currently a Board Director of four of Karolinska Development's portfolio companies: Axelar, Oncopeptides, Clanotech and Akinion Pharmaceuticals. Carl Harald holds an MD and a PhD from Karolinska Institutet and is a Certified European Financial Analyst from the Stockholm School of Economics.
Dr. Terje Kalland, Chairman of the Board, KDev Oncology AB, and CSO, Karolinska Development AB:
"KDev Oncology is the second therapeutic area group we have created and we aim to do the same for other areas as well. These new groups will allow for strengthened scientific development and cooperation, critical mass and efficient use of resources. Therapeutic area groups will primarily include new projects, and existing Karolinska Development project companies only where doing so supports the efficiency of the group, as in this case in oncology. We welcome Carl Harald Janson as the new CEO of KDev Oncology. Carl Harald's broad experience across pharmaceutical development, investments and medicine will be of great value in forming our future portfolio of oncology investments."
For further information, please contact:
Torbjörn Bjerke, CEO Karolinska Development AB
Phone: +46 (0) 72 744 41 23, e-mail: torbjorn.bjerke@karolinskadevelopment.com
Terje Kalland, Chairman of the Board, KDev Oncology AB
Phone: +46 (0) 76 891 73 01, e-mail: terje.kalland@karolinskadevelopment.com
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About Karolinska Development
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. Today, the portfolio consists of 34 projects, of which 14 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
Karolinska Development is listed on NASDAQ OMX. Karolinska Development may be required to disclose the information provided herein pursuant to the Securities Markets Act.