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Torbjorn Bjerke Appointed as new CEO for Karolinska Development

Monday, August 23, 2010 Corporate News J E 4
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STOCKHOLM, August 23, 2010 Torbjorn Bjerke has beenappointed as new CEO for Karolinska Development. He is currently CEO forOrexo, a position he has held since 2007. Torbjorn Bjerke succeeds ConnyBogentoft who will assume the position as Chief Scientific Officer forKarolinska Development.

Starting its operation in 2003, Karolinska Development has rapidly becomeone of the leading companies within early pharmaceutical development inEurope. Investments by Karolinska Development have focused on developing itsportfolio companies to proof of concept. Karolinska Development has nowentered a next phase where the company will seek external partners for someof its portfolio companies while preparing for an initial public offering.

"With his solid background as a commercial leader, Torbjorn Bjerke hasthe right profile for the role as CEO for Karolinska Development. He has vastexperience from leading and developing early research-based companies as wellas a listed pharmaceutical company. Torbjorn's experience in businessdevelopment and his demonstrated ability in negotiating and implementingcollaborations with international partners will be of great value to us, ourshareholders and our portfolio companies," says Hans Wigzell, Chairman ofKarolinska Development.

Torbjorn Bjerke has held the position as CEO for Orexo since 2007. Hewill assume the position as CEO for Karolinska Development when his successorhas been appointed. Conny Bogentoft, who has held the position as CEO forKarolinska Development since its inception in 2003, will become ChiefScientific Officer with overall responsibility for the future development ofKarolinska Development's portfolio.

"I look forward to my new role as CEO for Karolinska Development, and tolead one of the most exciting pharmaceutical companies in Europe to furthersuccess and a future IPO," says Torbjorn Bjerke.

TO THE EDITORS

About Karolinska Development

Karolinska Development manages one of the largest portfolios of lifescience companies in Europe. Using a unique, highly cost efficient businessmodel, the management team guides the commercialization of world class lifescience innovations, helping to shape the next generation Pharma industry.Since 2003, Karolinska Development has built a portfolio of some 40companies; among the company's projects 12 compounds are undergoing clinicaltrials. The portfolio contains a total of 21 potential first-in-classproducts. http://www.karolinskadevelopment.comFor further information, please contact: Hans Wigzell, Chairman of the board, Karolinska Development Tel: +46(0)705-76-05-39, e-mail: hans.wigzell@ki.se Conny Bogentoft, CEO, Karolinska Development Tel: +46(0)706-88-61-43, e-mail: conny.bogentoft@karolinskadevelopment.com Torbjorn Bjerke, appointed CEO, Karolinska Development Tel: +46(0)708-66-19-90, e-mail: info@karolinskadevelopment.com

SOURCE Karolinska Development AB PUBL
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