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.
Karolinska Development arranges a share ownership exchange with Industrifonden
| Source: Karolinska Development AB