latest news releases from the newsroom
Board members leave Tornet
STOCKHOLM, Sweden, April 30, 2004 (PRIMEZONE) -- Following the departure of Sverker Lerheden as CEO of Tornet on 1 April 2004, Mr. Lerheden and Goran Collert have informed the Chairman of the Board, Mark H. Newman, of their resignation from the Board of Directors of Tornet today.
Bristol-Myers Squibb returns compound rights to Karo Bio
HUDDINGE, Sweden, April 30, 2004 (PRIMEZONE) -- In the fall of 1997 Karo Bio and Bristol-Myers Squibb (BMS) initiated a drug discovery collaboration with the aim to develop novel treatments for obesity and the metabolic syndrome. The collaboration has focused on compounds that target the thyroid hormone receptors. The program has succeeded in discovering selective compounds with desirable effects in animal models that lacked the undesirable cardiac side-effects that occur with the use of the natural hormone. These pioneering results were communicated recently in an important publication in the Proceedings of The National Academy of Sciences USA (P.N.A.S.). The discovery phase of the joint program was completed in March 2003. Since then BMS has been free to evaluate compounds from the collaboration as potential clinical candidates. Based upon internal decisions, BMS has now returned their lead compound rights to Karo Bio and discontinued internal activities on this target.
Skanska Sells Prague Property for SEK 295 M, With a Gain of Approximately SEK 70 M
STOCKHOLM, Sweden, April 30, 2004 (PRIMEZONE) -- Skanska has sold an office property in central Prague for approximately SEK 295 M, or EUR 32.3 M. The sales gain amounts to about SEK 70 M, or EUR 7.9 M, which is being reported in the second quarter of 2004. The buyer is the German property fund management company SachsenFonds GmbH, a daughter company of Landesbank Sachsen.
Proha to Acquire Full Ownership of Norwegian Dovre International AS
HELSINKI, Finland, April 30, 2004 (PRIMEZONE) -- Proha Plc's Board of Directors decided to use its option and to acquire full ownership of the Norwegian company Dovre International AS (Dovre). Prior to the execution of the option, Proha Group owns 40% of Dovre through its Norwegian subsidiary Safran Software Solutions AS, and has control over the company based on the shareholder agreement.