KARO BIO AB APPOINTS PER BENGTSSON AS ACTING PRESIDENT AND CEO

KARO BIO AB APPOINTS PER BENGTSSON AS ACTING PRESIDENT AND CEO

STOCKHOLM, May 24, 2011 - Karo Bio AB (publ) today announces that the
Board of Karo Bio has appointed Per Bengtsson as acting President and
CEO of the company.

Per Bengtsson - MD, PhD - was elected board member of Karo Bio at the
annual general meeting 2011 and has previously been CEO of Probi AB
(publ), R&D Manager at Pharmacia/Pharmacia&Upjohn PlasmaProducts,
Medical Director and Therapeutic Area Head at Ferring and Development
Manager at Bionor Immuno A/S. Today, Per Bengtsson holds a minor
consultancy assignment with Mintage Scientific AB, where Göran Wessman
is President.

“We are pleased that we have been able to find a very competent person
for this position with short notice”, says Göran Wessman, chairman of
the board.

Per Bengtsson will assume his position as acting President and CEO of
Karo Bio with immediate effect.

For further information, please contact:
Göran Wessman, chairman of the board
Mobile: +46 708 16 14 50

About Karo Bio
Karo Bio is a pharmaceutical company focused on the research and
development of innovative drugs for unmet medical needs. Karo Bio's
vision is to become a pharmaceutical company with sustainable
profitability, commercial products and a competitive project portfolio.

Karo Bio runs a number of development projects within the indication
areas cardiovascular and metabolic diseases, neuropsychiatry,
inflammatory conditions, autoimmune diseases, cancer and women's health.
An important foundation for the company's activities is its unique
knowledge of nuclear receptors as target proteins for the development of
novel pharmaceuticals, as well as related mechanisms of action.
Important processes and competencies within the company include
structurally based research, drug discovery, preclinical and clinical
development, and medical and regulatory expertise.

Karo Bio has the capacity to process select compounds for niche
indications through the whole development chain, while compounds
addressing large patient groups require development collaborations or
out-licensing at some stage in the process. In addition to proprietary
projects, Karo Bio has three strategic collaborations with international
pharmaceutical companies.

Karo Bio, headquartered in Huddinge, has 70 employees, and is listed on
NASDAQ OMX Stockholm since 1998 (Reuters: KARO.ST).

Karo Bio publishes this information in accordance with the Swedish
Securities Markets Act and/or the Swedish Financial Instruments Trading
Act. The information was published on May 24, 2011, at 13:15 CET.

This press release is also available online at:
www.karobio.se (http://www.karobio.se/) (http://www.karobio.se/ (http://
www.karobio.se/)) and
www.newsroom.cision.com (http://www.newsroom.cision.com/)