STOCKHOLM, October 15, 2018. Karolinska Development's portfolio company Phamanest changes its name to Palette Life Sciences. The company also announces a global licensing agreement with Nestlé Skin Health.
Palette Life Sciences (former Pharmanest) has announced a licensing agreement with Nestlé Skin Health. The agreement gives Palette Life Sciences the worldwide commercialization and development rights for three products: Deflux, Solesta and BarrigelTM.
The products are all based on the NASHATM (Non Animal Stabilized Hyaluronic Acid) technology. Palette Life Sciences will focus immediately on sales of Deflux and Solesta and will begin preparing for worldwide commercialization of Barrigel. Nestlé Skin Health will continue to manufacture the products on behalf of Palette Life Sciences.
Palette Life Science will continue the development of SHACT under the name LidbreeTM. Lidbree will be submitted for European regulatory review later this year.
Karolinska Development is a passive investor in Palette Life Sciences and maintains an ownership of 10,4 per cent in the company.
For more details please visit:
www.pharmanest.se
www.palettelifesciences.com (http://www.palettelifesciences.com)
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@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 patients' 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 established a portfolio of nine 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 (http://www.karolinskadevelopment.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire
