Karolinska Development joins stock market

Published 2011-04-18 00:00. Updated 2013-11-26 10:29

The general public and institutional investors alike have shown substantial interest in acquiring shares in Karolinska Development AB (KD), which hopes to raise proceeds of SEK 608 million with its new share issue. Trading in KD shares commenced on the NASDAQ OMX Stockholm on Friday 15 April 2011.

Torbjørn Bjerke, CEO of KD, rings the bell to signal the opening of trade. Photo: NASDAQ OMX

"We´re proud, naturally," says Harriet Wallberg-Henriksson, President of Karolinska Institutet. "The interest shown in KD is explicit acknowledgement of Karolinska Institutet´s innovation system."

Karolinska Institutet has created something that no other university has, namely a bridge from academia - via its innovation and holding companies - to an investment company. This innovation system, which is unique in Sweden, allows KD to plough funds back into Karolinska Institutet´s research and new innovations.

"The process involves taking new research ideas to the development of drugs, biotechnology and medical technology of benefit not only to patients but to the entire country," adds Professor Wallberg-Henriksson.

Life science innovations are becoming increasingly recognised as crucial in research policy. The government has been very clear in its appeal to academia to actively ensure that research is turned to public benefit. Innovation was given a pivotal role in the 2008 research bill, titled A boost to research and innovation", and the Ministry of Education and Research has signalled a desire to raise investments further in forthcoming research policy bills as well.

KD´s portfolio comprises over 40 projects in various phases, from concept development to phase II studies; 12 projects are undergoing clinical trials, six in phase II. The portfolio is particularly strong in the fields of cancer, dermatology, inflammation, cardiovascular disease, women´s health and diseases of the central nervous system. Karolinska Institutet Holding AB (KIHAB) will have a post-issue holding of approximately 9 per cent in KD, giving a voting strength of approximately 27 per cent.

Text: Sabina Bossi, press officer; Ulla Bredberg, deputy information and public relations manager.