STOCKHOLM, SWEDEN – March 2, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that its portfolio company OssDsign has decided to carry out a fully guaranteed rights issue of SEK 240 million in combination with overallotment options of up to approximately SEK 30 million – a total of approximately SEK 270 million. The purpose of the financing is, among other things, to accelerate the company's development through the new strategy program ASCENT25.
The guarantors of the rights issue include several of the company's previous major shareholders, including Karolinska Development, SEB Venture Capital and Fouriertransform. In connection with the rights issue, OssDsign presents a new corporate strategy with the purpose of realizing its potential and accelerating the development towards a positive cash flow by 2025. The great interest in the issue reflects confidence in OssDsign's capacity to advance to a new level.
The new strategy, ASCENT25, aims to accelerate the company's growth, value creation and innovation until 2025. The investment broadens OssDsign by supplementing the company's current focus on craniomaxillofacial indications with two new market segments: orthobiology and spinal surgery. The strategy includes five key areas: expansion in the US through increased interaction with treating physicians and key opinion leaders (KOL), establishment of the company's orthobiology operations through commercialization of the synthetic bone grafting technology that was part of the acquisition of Sirakoss Ltd, accelerated internal product development, product validation through new preclinical and clinical studies and clinical registers, and streamlining of the company's production capacity.
“We see great potential in OssDsign's new offensive corporate strategy. The successes over the past year show that there is a clear need for a global player with high-quality products in regenerative treatment of bone defects", comments Viktor Drvota, CEO, Karolinska Development.”
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has a portfolio of ten companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com
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