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STOCKHOLM, Sweden, April 25, 2022. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Promimic’s IPO offering was fully subscribed. Promimic is now provided with SEK 80 million before deductions for issue costs, profoundly strengthening the company’s position ahead of its continued growth journey. Trading in the company’s shares is estimated to begin on Friday, April 29 on Nasdaq First North Growth Market.
The offering, which was aimed at both institutional investors and the general public in Sweden, was subscribed for 100 percent.
The estimated first trading day on the Nasdaq First North Growth Market is April 29, 2022, where the shares will be traded under the short name “PRO”.
"The full subscription of the listing issue testifies to Promimic’s strong position and growth strategy, which has enabled the company to defy the uncertain situation in the capital market. With its strengthened financial resources, Promimic will now be able to expand its market investments with a clear focus on securing long-term and high growth, and we are looking forward to taking part in this exciting journey,” says Viktor Drvota, CEO, Karolinska Development.
Karolinska Development's shareholding in Promimic, including indirect ownership via KDev Investments, amounts, after the IPO, to 16.3 percent (1.8 and 14.5 percent, respectively).
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: firstname.lastname@example.org
Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: email@example.com
TO THE EDITORS
Promimic is a growth company that manufactures, markets and sells biomaterials for improved osseointegration (bone healing) to leading companies in the markets for orthopedic and dental implants. The company has its origins in research at Chalmers University of Technology and today has its head office in Mölndal and a sales office in the US. To date, more than 600,000 operations with implants using the Company's technology have been carried out around the world.
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 nine 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.