STOCKHOLM - February 11, 2011 - In an international innovation initiative from the Swedish Institute, 20 innovations have been selected as the most promising in each of four different sectors. In the field of life science, four innovations were selected, two of which are being developed by companies in Karolinska Development's portfolio. One is a new chemical class of compounds representing a novel therapeutic and diagnostic approach for the treatment of Alzheimer's and other neurodegenerative diseases, the therapeutic part is being developed by BioChromix Pharma (www.biochromixpharma.com). The other innovation has resulted in new methods for safe biopsy sampling and safe early minimally invasive treatment of cancer, this is being is developed by NeoDynamics (www.neodynamics.se).
Press release from the Swedish Institute: http://www.si.se/Svenska/Innehall/Pressnyheter/Nyheter-20102/Nyheter-2010/Nasta-generation-innovationer-ska-satta-Sverige-pa-kartan/
Interview with Peter Åsberg, CEO of BioChromix Pharma, in Biotech Sweden: http://biotech.idg.se/2.1763/1.367512/halla-dar-peter-asberg
Articles in Affärsvärlden and Ny Teknik: http://www.nyteknik.se/nyheter/innovation/tillvaxtforetag/article3089698.ece http://www.affarsvarlden.se/hem/nyheter/article3089697.ece
For further information, please contact: Torbjörn Bjerke, CEO, Karolinska Development Phone: +46 (0) 72 744 41 23 torbjorn.bjerke@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development Karolinska Development aims to create value for investors, patients, and researchers by developing innovations from world class research 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 these 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. This will result in upfront payments, milestone payments and royalties.
An exclusive deal flow agreement with Karolinska Innovations, along with cooperation agreements with other leading Nordic universities, ensures the first right of refusal to a continuous flow of innovations.
Karolinska Developments flexible exit strategy enables projects to be exited at whichever stage of development offers the greatest return on investment, usually after Phase II clinical trials have indicated the desired pharmaceutical effect on patients - this being an important value enhancing step.
Today, the portfolio consists of over 40 projects at various stages, from concept development to Phase II clinical trials, twelve projects are in clinical trials with six in Phase II. The portfolio is particularly strong in the areas of cancer, dermatology, inflammation, cardiovascular disease, women's health and diseases that affect the central nervous system. www.karolinskadevelopment.com
