Karolinska updates value of its portfolio as it repositions as leading Nordic venture capital firm

Swedish biotech company Karolinska Development has published its third quarter highlights, including that the total fair value of the portfolio increased 44.4 million Swedish kronor ($5.1 million) to 723.2 million kronor.

The company is continuing to execute its strategy, which is focused on transforming itself into a leading Nordic venture capital company. The increased value of the portfolio reflects the investments made by Karolinska Development during the period. It has divested Pharmanest and XSpray Microparticles, and further progressed the streamlining of its portfolio.

Jim Van heusden, chief executive of Karolinska, said: “We are making significant progress in executing our strategy as we work towards our medium-term goal of becoming a leading Nordic venture capital company. I am also pleased with the progress being made by our current portfolio companies. Both Dilaforette and Aprea have announced important clinical development milestones, while Promimic is starting to demonstrate the value of its unique coating technology for implants with its recent deals with SIN and Amendia. We also participated in the new financing round of OssDsign - a clear statement of our continued belief in the company as well as an important example of our core strategy to pro-actively syndicate our investments with recognized specialist investors in important medical innovations. Over the remainder of the year I am confident that we will continue to report further important developments from our portfolio companies as we work to demonstrate and realise the true value of Karolinska Development’s portfolio.”