STOCKHOLM, SWEDEN - December 2, 2024. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that the company has decided to implement organizational changes in order to reduce the cost base of its operations. The changes involve reducing the management team by one person and giving notice of redundancy to a total of three employees. This is estimated to reduce the company's personnel costs by approximately 20 percent.
Within the framework of a strategic review, Karolinska Development has identified opportunities to streamline its operations by reducing the number of employees. Per Aniansson, Investment Director and member of the management team, and two other employees will leave the company.
"We do, of course, regret that skilled and valued colleagues will have to leave their posts but are convinced that the changes prompted by our strategic review are in the long-term interests of the company. It is an important part of our responsibility towards our shareholders to constantly ensure the optimal use of our financial resources and strive for the highest possible efficiency in portfolio management," comments Viktor Drvota, CEO of Karolinska Development.
The changes, when fully implemented, are expected to reduce the company's personnel costs by approximately 20 percent.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com
TO THE EDITORS
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 patient's 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 eleven 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.
