Karolinska Development signs agreement with Mayo Clinic
STOCKHOLM, February 4, 2013. Karolinska Development AB (publ) has entered into an agreement with Mayo Clinic with the aim of identifying commercialization opportunities in Mayo’s life science innovations that will improve patient care.
Through this agreement, Karolinska Development will evaluate innovations from Mayo Clinic. The collaboration will increase the possibilities for life science investments in differentiated world-class scientific innovations. Investments in commercially-interesting innovations may then be made by both parties, jointly or independently. As a not-for-profit institution, revenue that Mayo receives from such investments is used to support Mayo’s education and research endeavors.
Torbjörn Bjerke, CEO, Karolinska Development: "Karolinska Development invests in world-class innovations, currently from the best Nordic institutions. Mayo Clinic is one of the finest medical institutions; it is a globally-recognised powerhouse of patient treatment and life sciences innovation, similar to the Karolinska Institutet and other institutions with which Karolinska Development has co-operation agreements. Through this agreement, Karolinska Development will not only gain access to an additional continuous flow of new ideas and projects, but we will also be able to showcase our own innovations for an excellent investor in life science.”
James Rogers, chair, Mayo Clinic Venture: "We are pleased to announce our collaboration with Karolinska Development to identify, develop, and commercialize the new ideas being generated by Mayo physicians and scientists. Karolinska Development has a demonstrated ability to develop early stage ideas into clinically tested products for the benefit of patient care. We are looking forward to working together on advancing innovative technologies to a commercial and clinical endpoint."
For further information, please contact:
Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0)72 744 41 23, e-mail: torbjorn.bjerke@karolinskadevelopment.com
Robin Wright, CFO, Karolinska Development AB
Phone: +44 (0)77 203 000 25, e-mail: robin.wright@karolinskadevelopment.com
Benjamin Nordin, Head of Investor Relations, Karolinska Development AB
Phone: +46 (0)73 093 60 80, e-mail: benjamin.nordin@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and investors 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 15 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.