Karolinska Development Closes Fully Subscribed New Share Issue

Stockholm (ots/PRNewswire) - Karolinska Development AB
(publ) recently closed a fully subscribed new share issue, raising
SEK 147 million (USD 19 million). Its major shareholders - Karolinska
Institutet Holding AB, Tredje AP-fonden; Östersjöstiftelsen;
Näsudden; Foundation Asset Management; and Praktikerinvest - took
their share of the new issue, while new investors participated with
SEK 50 million. Karolinska Development was advised by EFG Bank AB.

The new issue, combined with current liquidity, secures the
investment program of Karolinska Development for a further two years.

"As a life science investment company with a focus on developing
pharmaceutical and medical technology products, we have a compelling
spread of investments in this area. We currently have nine companies
with projects in the clinical phase, facilitating as many exits if
results from ongoing studies are positive," says Conny Bogentoft, CEO
of Karolinska Development.

Karolinska Development has a highly cost effective business
model, and has built one of Europe's largest portfolios of life
science research companies. Since its inception five years ago, it
has evaluated over 1,000 projects, investing SEK 600 million in a
portfolio of 38 companies.

"This is a tremendous achievement and compares favorably to the
amounts traditionally invested by pharmaceutical companies with
similar objectives in mind. Our ambition is to exit a number of
companies in 2009 and 2010 and preparations for a public listing of
Karolinska Development in the coming years are ongoing," says Conny
Bogentoft.

Since the inception of Karolinska Development in 2003, EFG Bank
AB has acted as its advisor on capital raising. Including the most
recent issue, a total of SEK 1 billion has been raised.

"In spite of a turbulent financial climate, the new issue has
successfully been completed. The management of Karolinska Development
has been able to demonstrate the robustness of the business model and
the significant growth potential in the company," says Martin
Nilsson, CEO EFG Bank.

A prospectus of this offering has been filed with the Swedish
Financial Supervisory Authority, Finansinspektionen

About Karolinska Development

Managing one of the largest portfolios of life science research
companies in Europe, Karolinska Development is a Swedish investment
company using a unique, highly cost effective model to commercialize
internationally renowned life science innovations. Professionals in
business development and management, supported by a network of
experienced technical specialists, ensure fast and efficient
development. This enables Karolinska Development to rapidly build
value in high risk opportunities, through long term lead investor
position from seed stage; developing the medical products of the
future.

Karolinska Development's office is located at the Karolinska
Institute Science Park, Solna/Stockholm Sweden
http://www.karolinskadevelopment.com

About EFG Bank AB

EFG Bank is a subsidiary of EFG International and a member of EFG
Group, the third largest banking group in Switzerland by Tier-1
Capital. In Sweden and in other Nordic countries, EFG Bank offers
asset management services and financial investments to institutions,
private individuals and financial advisors. EFG Bank is headquartered
in Stockholm, Sweden. http://www.efgbank.se

EFG International is a global banking group offering services
within private banking and asset management. EFG International
operates in 55 locations in over 30 countries. It is headquartered in
Zurich and has circa 2,200 employees. EFG International's registered
shares (EFGN) are listed on the SIX Swiss Exchange.

Practitioners of the craft of wealth management

Contacts
For further information contact:
Conny Bogentoft
CEO Karolinska Development
+46-70-668-6143
conny.bogentoft@karolinskadevelopment.com
Martin Nilsson
CEO EFG Bank
+46-73-699-6401
martin.nilsson@efgbank.se

ots Originaltext: Karolinska Development AB and EFG Bank AB
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Contacts: For further information contact: Conny Bogentoft, CEO
Karolinska Development, +46-70-668-6143,
conny.bogentoft@karolinskadevelopment.com; Martin Nilsson, CEO EFG
Bank, +46-73-699-6401, martin.nilsson@efgbank.se