KDev Oncology AB invests in GliGene AB

On February 14, 2012. GliGene AB, a new Swedish drug
development company focusing on cancer diseases, has received its first
financing through a new share issue directed to KDev Oncology AB, a wholly owned
subsidiary of Karolinska Development AB (Press release, GliGene, FEB 14, 2012, http://www.karolinskadevelopment.com/?cID=551&pid=600939&did=490625&y=2012&m=02 [SID1234516060]). The new share issue will enable GliGene
to advance the discovery of new antagonists to the Hedgehog pathway. KDev
Oncology’s investment at SEK 6.8m will result in an ownership in GliGene at
44%*.

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GliGene is an early stage drug development company that discovers, develops and
commercializes new targeted therapies for cancer patients. The discovery effort
is based on world class research at Karolinska Institutet by Prof. Rune Toftgård
and colleagues, who are co-founders of the company.

In developed countries approximately 35% of all deaths are caused by malignant
tumors. Cancer is usually treated with a combination of surgery, chemotherapy,
targeted therapy and radiotherapy. GliGene will focus its discovery activities
on the Hedgehog signaling pathway. This pathway is one of the key regulators of
animal development and plays a fundamental role in the control of cell
differentiation, growth, and proliferation. The Hedgehog signaling pathway
becomes reactivated in cancer, and is not likely to be required in most normal
adult tissues. Thus, inhibition of this pathway may provide a selective way of
treating cancer.

Dr. Carl Harald Janson, CEO, KDev Oncology AB, and Chairman of the Board,
GliGene AB:
"We are delighted to announce the start of GliGene and the first investment in
the company. We are very happy to have Prof. Rune Toftgård and his colleagues as
co-founders in the company. Their contribution will be of great importance for
our future success."

Prof. Rune Toftgård, Center for Biosciences, Karolinska Institutet:
"It is a pleasure to be part of GliGene and we look forward to see science
provide benefit to cancer patients. We appreciate the investment by KDev
Oncology and look forward to a fruitful relationship."

Dr. Torbjörn Bjerke, CEO, Karolinska Development AB:
"GliGene is the first investment by KDev Oncology, our newly formed, fully owned
oncology group. This marks the start of our enhanced effort in oncology, an area
of strategic importance to Karolinska Development. The cancer market is
currently valued at around USD 80bn and is one of the fastest growing segments
in the pharma industry. "

*Including indirect ownership through KCIF Co-Investment Fund at 3.9%.

For further information, please contact:
Carl Harald Janson, CEO, KDev Oncology AB, and Chairman of the Board, GliGene AB
Phone: +46 (0) 70 226 91 52, e-mail:
[email protected]

Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0) 72 744 41 23, e-mail: [email protected]