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Karolinska

Europe, Stockholms Lan, Sweden, Solna

Description

Karolinska Development AB (publ) is a prominent Nordic life science investment company, publicly listed on Nasdaq Stockholm (Mid Cap). Established in 2003, the firm specializes in identifying and commercializing medical innovations, primarily originating from leading research institutions within the Nordic region. Its core mission revolves around investing in and developing early-stage companies that address significant unmet medical needs, with an ultimate goal of divesting these ventures through IPOs or out-licensing agreements. This strategic approach positions Karolinska Development as a key player in fostering the growth of the life science ecosystem in the Nordics.

The company employs an active ownership model, providing not only capital but also strategic guidance to accelerate the development of its portfolio companies. Karolinska Development typically focuses on early-stage investments, with initial cheques generally ranging from SEK 5 million to SEK 10 million, which translates to approximately $476,000 to $952,000 USD based on recent exchange rates. These initial investments are often followed by subsequent funding rounds as the portfolio companies mature and progress through clinical development. This structured investment approach allows them to support promising innovations from their nascent stages through to commercial viability.

As of recent reports, Karolinska Development manages a diverse portfolio comprising ten companies. A significant portion of this portfolio, specifically five companies, are currently engaged in clinical development, underscoring the firm's commitment to advancing medical products through rigorous testing phases. Their long-term strategy emphasizes value creation through the successful development and eventual exit of these companies, contributing to both medical progress and investor returns. The firm's consistent focus on high-potential, early-stage life science ventures highlights its role in bridging the gap between scientific discovery and market-ready solutions.

Investor Profile

Karolinska has backed more than 30 startups, with 4 new investments in the last 12 months alone. The firm has led 10 rounds, about 33% of its total and boasts 5 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series Unknown, Post Ipo Debt, Series A rounds (top funding stages).
  • Majority of deals are located in Sweden, Finland, Denmark.
  • Strong thematic focus on Biotechnology, Pharmaceutical, Health Care.
  • Led 2 rounds in the past year.
  • Typical check size: $476K – $952K.

Stage Focus

  • Series Unknown (40%)
  • Post Ipo Debt (13%)
  • Series A (10%)
  • Post Ipo Equity (7%)
  • Seed (7%)
  • Series B (7%)
  • Convertible Note (7%)
  • Corporate Round (3%)
  • Series C (3%)
  • Debt Financing (3%)

Country Focus

  • Sweden (73%)
  • Finland (10%)
  • Denmark (10%)
  • United States (7%)

Industry Focus

  • Biotechnology
  • Pharmaceutical
  • Health Care
  • Medical
  • Therapeutics
  • Clinical Trials
  • Biopharma
  • Medical Device
  • Nanotechnology
  • Neuroscience
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Karolinska frequently co-invest with?

Angelini Ventures
Europe, Lazio, Italy, Rome
Co-Investments: 1
Novartis Venture Fund
Europe, Basel-Stadt, Switzerland, Basel
Co-Investments: 2
Co-Investments: 2
EIR Ventures
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
Sciety
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
Novo Holdings
Europe, Hovedstaden, Denmark, Hellerup
Co-Investments: 2
HealthCap
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 3
Almi Invest
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 4
R
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
M Ventures
Europe, Noord-Holland, The Netherlands, Amsterdam
Co-Investments: 2

Which angels does Karolinska often collaborate with?

Shared Deals: 1
Shared Deals: 1

What are some of recent deals done by Karolinska?

Umecrine Cognition

Solna, Stockholms Lan, Sweden

Umecrine Cognition is a developer of pharmaceutical products to treat cognitive neurological disorders.

BiotechnologyHealth CarePharmaceutical
Convertible NoteJul 14, 2025
Amount Raised: $2,564,106
Modus Therapeutics

Stockholm, Stockholms Lan, Sweden

Modus Therapeutics is a Swedish drug development company focused on normalizing the lives for patients with Sickle Cell Disease.

BiotechnologyClinical TrialsPharmaceuticalTherapeutics
Post Ipo EquityJun 26, 2025
Amount Raised: $2,996,954
Modus Therapeutics

Stockholm, Stockholms Lan, Sweden

Modus Therapeutics is a Swedish drug development company focused on normalizing the lives for patients with Sickle Cell Disease.

BiotechnologyClinical TrialsPharmaceuticalTherapeutics
Post Ipo DebtMar 31, 2025
Amount Raised: $497,916
Umecrine Cognition

Solna, Stockholms Lan, Sweden

Umecrine Cognition has develops drugs against central nervous system neurological disorders, CNS caused by endogenous CNS active steroids.

BiotechnologyHealth CarePharmaceutical
Convertible NoteDec 19, 2024
Amount Raised: $2,157,497
Modus Therapeutics

Stockholm, Stockholms Lan, Sweden

Modus Therapeutics is a Swedish drug development company focused on normalizing the lives for patients with Sickle Cell Disease.

BiotechnologyClinical TrialsPharmaceuticalTherapeutics
Post Ipo DebtNov 19, 2024
Amount Raised: $458,286
BOOST Pharma

Copenhagen, Hovedstaden, Denmark

BOOST Pharma develops a stem cell therapy for the treatment of osteogenesis imperfecta.

BiopharmaBiotechnologyMedicalTherapeutics
Series UnknownMay 28, 2024
Umecrine Cognition

Solna, Stockholms Lan, Sweden

Umecrine Cognition has develops drugs against central nervous system neurological disorders, CNS caused by endogenous CNS active steroids.

BiotechnologyHealth CarePharmaceutical
Convertible NoteNov 17, 2023
Amount Raised: $2,869,557
PharmNovo

Lund, Skane Lan, Sweden

PharmNovo addresses the high unmet need of treatments for chronic pain, which affects up to 30% of the adult population in the USA & Europe.

Health CarePharmaceutical
Series UnknownSep 26, 2023
Amount Raised: $2,098,976
Modus Therapeutics

Stockholm, Stockholms Lan, Sweden

Modus Therapeutics is a Swedish drug development company focused on normalizing the lives for patients with Sickle Cell Disease.

BiotechnologyClinical TrialsPharmaceuticalTherapeutics
Post Ipo DebtMar 29, 2023
Amount Raised: $673,083
OssDsign AB

Uppsala, Uppsala Lan, Sweden

Oss-Q is a medical-technology company developing implants for bone replacement.

BiotechnologyClinical TrialsHealth CareMedical
Post Ipo EquityNov 29, 2022
Amount Raised: $6,180,438