STOCKHOLM and UMEA, Sweden, January 14 KarolinskaDevelopment AB and Uminova Invest AB have entered into a co-operationagreement that will enrich the flow of investment opportunities available toKarolinska Development and enable cost effective commercial development forUminova Invest's portfolio companies. The agreement involves evaluation ofpotential investments; advise to existing portfolio companies as well as exitissues.
Uminova Invest is a regional private equity capital firm providingcapital and competence to prospective growth companies and entrepreneurs witha connection to the Umea University or other educational and researchactivities in the county of Vasterbotten.
"Umea region excels having created a very strong cluster of life scienceinnovations over the past years and this agreement offers us access to somevery exciting commercial opportunities", says Conny Bogentoft, CEO ofKarolinska Development.
"Over the past years we have had an ongoing exchange with KarolinskaDevelopment, this has now been formalized. This formal co-operation agreementprovides further opportunities to create viable companies", says Jan Olsson,CEO of Uminova Invest.
About Karolinska Development
Karolinska Development manages one of the largest portfolios of lifescience companies in Europe.
Using a unique, highly cost efficient business model, the management teamguides the commercialization of world class life science innovations, helpingto shape the next generation pharma industry. Since 2003, KarolinskaDevelopment has built a portfolio of some 40 companies; among the company'sprojects 12 compounds are undergoing clinical trials. The portfolio alsoincludes a total of 19 potential first in class products.http://www.karolinskadevelopment.com
About Uminova Invest
Uminova Invest focuses on prospective growth companies and people withinteresting ideas and an entrepreneur spirit at a stage when the addition ofcapital and competence is vital for the company's growth. The idea, productor service must be unique with a high market potential, and must have aconnection to the Umea University or other educational and researchactivities in the county of Vasterbotten. http://www.uminovainvest.seFor more information, please contact: Conny Bogentoft CEO Karolinska Development Tel: +46(0)706-88-61-43, e-mail: firstname.lastname@example.org Jan Olsson CEO Uminova Invest Tel: +46(0)703-44-16-80, email: email@example.com
SOURCE Karolinska Development AB and Uminova Invest AB