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Euro Ventures - Saturday, November 21, 2009

Karolinska Development and EIF Start New Life Science Fund

Swedish investment company Karolinska Development AB and the European Investment Fund (EIF) have a co-investment agreement, in which the fund managed by the former will be invested in early-stage pharmaceutical and medical technology companies. With a contribution of €26.7M ($39.6M) this is EIF's single largest investment in Nordic region. This agreement for this deal was concluded after the European Investment performed its own due-diligence check of Karolina Development investments in new projects as well as its share in portfolio companies in the final stages of clinical development, over a period of four years.

Karolinska Development has carefully created one of the biggest portfolio of life science companies in Europe since 2003. It has access to world-class life science innovations, not only from Karolinska Institutet but through many leading Nordic universities. Thus making the company well positioned to cultivate early stage companies for successful commercial exits. Monies from the European Investment Fund will be made over a 4 year period.

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By Raghuraman R