Karolinska to own 7.7% of Xspray Pharma after listing
Nordic life sciences investment firm Karolinska Development (STO: KDEV) is set to receive a significant chunk of shares in Xspray Pharma due to the product development company’s upcoming listing on Nasdaq First North.
As result of an earn-out agreement signed in September 2015, Karolinska Development and KCIF Co-Investment Fund KB, a holding company jointly owned by the European Investment Fund and Karolinska Development, are eligible to receive shares in Xspray, should the listing and share issue complete successfully.
Xspray has several product candidates in clinical development. It uses its patented RightSize technology in combination with well-documented substances for the development of improved and generic versions of marketed cancer drugs, primarily protein kinase inhibitors.
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