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W E L C O M E 1 Disclaimer The information contained in this - PowerPoint PPT Presentation

Oct 31, 2022 •402 likes •681 views

W E L C O M E 1 Disclaimer The information contained in this presentation is provided to you solely for your reference and not for external distribution and may not be retransmitted or distributed to any other person. The information is subject

  1. W E L C O M E 1

  2. Disclaimer The information contained in this presentation is provided to you solely for your reference and not for external distribution and may not be retransmitted or distributed to any other person. The information is subject to change without notice, has not been independently verified and may not contain all material information concerning relevant matters. Any estimates and projections (financial or otherwise) contained herein involve significant elements of subjective judgment and analysis based on assumptions that may or may not be correct. Other parties might project materially different estimates than the estimates included in this document. The estimates included in this document are not indications of the level of premiums for any transaction.Karolinska Development AB and its directors and employees accept no responsibility for the accuracy or content of this communication, which is not intended and should not be construed as an offer or inducement to engage in investment activity. In any event, this communication is exempt from the general restriction in securities laws and regulations of prospectuses of each state where this document will be distributed on the communication of invitations or inducements to engage in investment activity.This document is directed solely at persons having professional experience in matters relating to investments and high net worth companies, high net worth associations, trustees of high value trusts, and those of their directors, officers or employees who are involved in such investment activity on their behalf, pursuant to securities laws and regulations of each state where this document will be distributed and investment or investment activity to which this communication relates is available only to such persons or will be engaged in only with such persons. Any person who is not one of the persons described above should not rely on this communication.Swedish law shall govern in all respects concerning this document and the contents thereof. Any dispute, controversy or claim arising out of or in connection with this document or the contents thereof shall be exclusively resolved by Swedish Courts. 2 2

  3. Förslag till dagordning Proposed agenda 1. Stämmans öppnande 1. Opening of the meeting 2. Val av ordförande vid stämman 2. Election of chairman of the meeting 3. Upprättande och godkännande av 3. Preparation and approval of the voting röstlängd list 4. Godkännande av dagordning 4. Approval of the agenda 5. Val av en eller två personer att justera 5. Election of one or two persons to verify protokollet the minutes 6. Prövning av om stämman blivit behörigen 6. Determination of whether the meeting sammankallad has been duly convened 7. Beslut om 7. Resolution on a) amendments of the Articles of Association (share capital limits a) ändring av bolagsordningen (gränserna and number of shares) and b) approval of för aktiekapitalet och antalet aktier); och the Board of Directors’ resolution on a directed new issue of shares to the b) godkännande av styrelsens beslut om en convertible holders, with payment by set-off riktad nyemission till konvertibelinnehavare (kvittningsemission) 8. Closing of the meeting 8. Stämmans avslutande 3 3

  4. Building a leading Nordic life science investment company 4

  5. Our ambition Building a leading Nordic life science investment company delivering value to all stakeholders 5 5

  6. Achievements to-date 6

  7. An experienced management team with proven track record 24 + 26 + 15 + years years years life sciences life sciences life sciences experience experience experience 16 + 15 + years years investment investment experience experience Viktor Drvota, MD PhD Jim Van heusden, PhD Christian Tange Chief Investment Officer Chief Executive Officer Chief Financial Officer and Deputy CEO since March 2015 since February 2014 since February 2016 7 7

  8. Generated a diversified portfolio with blockbuster potential Therapeutics Medtech 8 8

  9. Majority of portfolio financed to next value inflection point Series B Series C Series B Series B KDev Investments Fort Knox Lee’s Healthcare Fund Chalmers Ventures Partnerinvest Rosetta Capital ALMI Praktikerinvest Norrlandsfonden Pila AB SEK 32m SEK 60m SEK 437m SEK 51m SEK 23.8m February 2017 Mar & Nov 2016 March 2016 September 2016 September 2016 SEK 610 million raised in 2016 – 91% from new investors 9 9

  10. Majority of portfolio financed to next value inflection point Series B Series C Series B Series B KDev Investments Fort Knox Lee’s Healthcare Fund Chalmers Ventures Partnerinvest Rosetta Capital ALMI Praktikerinvest Norrlandsfonden Pila AB SEK 32m SEK 60m SEK 437m SEK 51m SEK 23.8m February 2017 Mar & Nov 2016 March 2016 September 2016 September 2016 SEK 610 million raised in 2016 – 91% from new investors New collaboration agreements signed – non-dilutive funding Clinical Partnership Partnership Partnership collaboration Matador Medical, Inc SEK 10m January 2017 September 2016 March 2016 February 2016 10 10

  11. Divested portfolio with retained economic interest divested to divested to divested to divested to Råsunda Förtvaltning AB SEK 24m SEK 18m earn-out agreement earn-out agreement earn-out agreement earn-out agreement February 2017 July 2016 December 2015 September 2015 IPO listing Feb 22 nd • share swap divested to divested to 5% of any revenue • Industrifonden receives Praktikerinvest from its holdings up to with max of SEK 80m SEK 28m • 5% share represents a earn-out agreement earn-out agreement market value of March 2015 June 2012 July 2015 SEK 26.7m at IPO 11 11

  12. Attracting experienced entrepreneurial leaders who deliver value Magnus Larsson Christian Schade Chief Executive Officer of Promimic President & Chief Executive Officer of Aprea Therapeutics Former Director Market Development at Dentsply Sirona Implants Former CEO of Novira Therapeutics, acquired by Johnson & Johnson Tord Lendau Simon Cartmell Chairman of Promimic Chairman of OssDsign Former General Manager at Sandvik MedTech Former CEO of Apatech, sold to Baxter for $330 million Bruce Scharschmidt MD Bernd R. Seizinger MD PhD Independent Director of Umecrine Cognition Chairman of Aprea Therapeutics Former SVP & Chief Medical Officer of Hyperion Therapeutics, Former CEO of GPC Biotech, VP Oncology Drug Discovery at BMS acquired by Horizon 12 12

  13. Now, we want to invest in new opportunities to build value The Nordic countries ...  Expand portfolio in Nordic region  are clear innovation leaders – the  Expand portfolio in other areas of life most innovative in Europe sciences  have the potential to become the  Further build risk diversified portfolio next big life science cluster   Focus on near-term value inflection points house a lot of hidden value  represent an under-ventured  Syndicate deals with experienced life area for life science investments science investors 13 13

  14. Our current portfolio – significant value inflection in 18 – 24 months 2 nd indication(s) planned Therapeutics Pre-clinical Phase I Phase II Phase III platinum-resistant ovarian cancer, esophageal ovarian cancer 2018 cancer, myelodysplastic syndrome sickle cell disease at-home setting with subcutaneous injection 2018 labor arrest 2018 labor induction Alzheimers disease 2018 idiopathic hypersomnia hepatic encephalopathy 2018 endometriosis 2018 Medtech Prototype Development Market PMA / 510K patient specific craniofacial implants EU expansion and US introduction 2017 orthopedic implant coating EU/US expansion and new applications 2017 Akvano formulation technology current stage of development progress and expected results 14 14

  15. Significant newsflow anticipated in the next 12–24 months *  H2 2016 Start Phase II - J AN 2017 D ILAFOR  H2 2016 Expand commercial infrastructure in EU - J AN 2017 O SS D SIGN  H1 2017 Open US operations P ROMIMIC  H1 2017 FDA 510(k) clearance obtained O SS D SIGN  H1 2017 US distribution agreement with Matador Medical O SS D SIGN U MECRINE C OGNITION H1 2017 Start Phase II P ROMIMIC H1 2017 S.I.N. expands sales in other regions D ILAFOR 2018 Phase II results F ORENDO 2018 Start Phase I M ODUS T HERAPEUTICS 2018 Phase II results A PREA T HERAPEUTICS 2018 Phase II results B IOARCTIC 2018 Phase II results U MECRINE C OGNITION 2018 Phase II results O SS D SIGN 2018 Start Japanese operations * current best estimates 15 15

  16. Strengthening the Equity Position 16

  17. Why ?  Strategic reorganization of Karolinska Development over the past 24 months is in essence now complete  SEK 248.1 million in cash and cash equivalents end December 2016  Need to strengthen the equity position in the near term in order to meet the minimal capital requirement in the Swedish Companies Act  Improve the overall financial risk profile  Ensure that current cash resources can be used to invest in new portfolio companies  Current debt restricts Karolinska Development’s ability to execute its strategy 17 17

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