STOCKHOLM, SWEDEN, February 28, 2023. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces that its portfolio company Aprea Therapeutics has closed an underwritten public offering of USD 5.5 million before deducting underwriting discounts, commissions, and offering expenses.
The public offering amounted to 1,050,000 shares of its common stock at a public offering price of USD 5.25 per share. In addition, Aprea Therapeutics has granted the underwriter a 30-day option to purchase up to an additional 157,500 shares of common stock.
The net proceeds received from the public offering will be used for the continued development of the clinical asset, ATRN-119, the pre-clinical asset ATRN-W1051 and for general corporate purposes.
”The funding strengthens our portfolio company Aprea Therapeutics in its continued development of novel cancer treatments targeting the DNA damage response (DDR) pathways,” says Viktor Drvota, CEO Karolinska Development.
Via KDev Investments, Karolinska Development owns 2 percent of the shares in Aprea Therapeutics.
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 eleven 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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