Karolinska Development arranges a share ownership exchange with Industrifonden

STOCKHOLM, SWEDEN – June 13, 2012. Karolinska Development AB announces today
that it will exchange its holding of shares in Oncopeptides AB for
Industrifonden’s holding of shares in Aprea AB, giving Karolinska Development
control of 69.4% of Aprea AB. Karolinska Development AB owned 43.4% of
Oncopeptides AB and 41.1% of Aprea AB prior to the transaction. The transaction
is not expected to have a material effect on Karolinska Development’s financial
statement.
Karolinska Development AB and Industrifonden have signed an agreement to
exchange ownership of their shareholdings in Oncopeptides AB and Aprea AB such
that Industrifonden will receive Karolinska Development AB’s shares in
Oncopeptides AB in exchange for its shares in Aprea AB. The transaction will
give Karolinska Development AB a total of 69.4% of Aprea AB. The transaction
also includes a provision that will give Karolinska Development AB a 5% share of
any revenue Industrifonden receives from its holdings of Oncopeptides AB up to a
maximum of SEK 80m, and will similarly provide Industrifonden with a 5% share of
any revenue Karolinska Development AB receives from its holding of Aprea AB up
to a maximum of SEK 80m.

"We believe that both Aprea and Oncopeptides have medical and hence commercial
potential. By doing this ownership exchange we will be able to focus on Aprea’s
continued clinical development and at the same time this transaction allows each
party to benefit from the future success in the other’s investment. We assess
that this outcome is best for Karolinska Development shareholders and it will
enable us to focus our resources more efficiently”, says Torbjörn Bjerke, CEO of
Karolinska Development.

Karolinska Development AB and Industrifonden have been majority shareholders in
both Aprea AB and Oncopeptides AB for several years. During this time, both
companies have reached Phase I/II stage of clinical development, and both have
promising future potential. The ownership exchange is not expected to have a
material effect on the financial statements of either Karolinska Development AB
or Industrifonden.

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)7720 300025, e-mail: robin.wright@karolinskadevelopment.com

TO THE EDITORS

About Aprea AB
Aprea AB is a Swedish biotech company focusing on discovery and development of
novel anticancer compounds targeting the tumor suppressor protein p53.
Aberrations in p53 are common in many various cancer forms and are associated
with increased resistance to standard chemotherapy and thus poor prognosis.
Aprea’s lead product APR-246 is currently in clinical Phase I/II. Aprea is a
Karolinska Development AB (publ) portfolio company. For more information, please
visit www.aprea.com.

About Oncopeptides AB
Oncopeptides AB is a privately held company developing pharmaceuticals to treat
cancer. The company has developed a proprietary technology based on creating pro
-drugs with increased efficacy of already known and effective cytotoxic
compounds. The lead substance, melflufen, is presently in a Phase I/II clinical
trial. For more information, please visit www.oncopeptides.com.

About Karolinska Development AB
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 35 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.