Karolinska Development Invests in EvoStem Finland Oy

2009-01-12

12 January 2009 - Stockholm - Sweden The Swedish investment company Karolinska Development AB has made a significant investment in EvoStem Finland Oy that develops stem cell and other tissue engineering based treatments for veterinary and human use

In 2007 EvoStem Finland Oy introduced its first product TendoStem®, which is a stem cell based treatment service for tendon and ligament injuries in horses. TendoStem® is currently on the market in Scandinavia.

"With this investment, we will speed up our international growth and product development projects", says Dr. Minna Leppänen, the CEO of EvoStem Finland Oy.

"We are targeting global markets, and currently we are engaged in negotiations for expansion of our market area. The investment of Karolinska Development AB and its strong, long-time commitment gives us a solid ground for a long-term development of our company", Leppänen continues.

"EvoStem has demonstrated that stem cell therapy for regenerative medicine is ready for the market. With our investment in EvoStem we strengthen our presence in the cell therapy area where we expect strong growth and medical progress", comments Investment Manager Hans-Peter Ekre, Karolinska Development AB.