Karolinska Development invests in Oss-Q
STOCKHOLM, SWEDEN - February 21, 2012. Oss-Q AB, a Swedish medical device company focusing on implants for bone healing, has received SEK 9m in financing through a new share issue directed to Karolinska Development as lead investor, together with Almi Invest and Uppsala University Holding Company (UUAB). The new share issue enables Oss-Q to advance the development of its first implant product and prepare the company for market launch.
Oss-Q is developing a novel implant technology and related bioceramic innovations, based on research at Karolinska University Hospital and Uppsala University. The vision of Oss-Q is to convert the technology into differentiating products for bone repair and to build a niche company in orthopedics, with its own sales starting with skull surgery. A foothold in skull surgery will prepare the company for subsequent development in other orthopedic areas, such as fracture repair. The market for biomaterials products in orthopedics was worth more than EUR 1.25b in 2011.
Bo Qwarnström, CEO of Oss-Q:
"We are delighted that Karolinska Development joins our circle of owners. The industrial know-how, network and resources of Karolinska Development will be important for taking Oss-Q to the next stage in our commercial development. We are also happy to have Almi Invest as a new owner and that UUAB continues to invest in Oss-Q."
Torbjörn Bjerke, CEO of Karolinska Development:
"I am impressed with the implant technology that Oss-Q has developed and with the people behind it. The technology has applications in a range of implants in bone defect indications where current products often result in poor healing. The early clinical data in skull defects are very promising and I strongly believe this product has the potential to reduce the rate of complications, patient suffering and thereby hospital costs."
After the investment, Karolinska Development owns 15.7 percent of Oss-Q, including indirect ownership through KCIF Co-Investment Fund.
For further information, please contact:
Bo Qwarnström, CEO, Oss-Q AB
Phone: +46 (0) 76 899 85 87, e-mail: info@oss-q.com
Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0) 72 744 41 23, e-mail: torbjorn.bjerke@karolinskadevelopment.com
TO THE EDITORS
About Oss-Q
Oss-Q was founded by researchers at Uppsala University and Karolinska University Hospital. The company is developing pioneering implants for bone healing with an initial focus on skull surgery.
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 36 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.