Industrifonden leads SEK 24m fundraising for Athera

The investment will fund ongoing clinical development of Athera's lead drug. Karolinska will exit its entire ownership to the consortium led by Östersjöstiftelsen and Industrifonden, in an earn-out agreement.

There was no impact on the VC's latest reported fair value portfolio valuation from the sale.

The exit is Karolinska's fourth in 2015, forming part of the VC's plan to refocus its portfolio and strategy. Östersjöstiftelsen, a Swedish foundation for Baltic and eastern European studies, was also the acquirer of Karolinska's three previous divestments, including the September sale of XSpray Microparticles.

Company
Stockholm-based Athera is a biopharmaceutical company developing anti-inflammatory drug candidates and diagnostics for the prevention and treatment of cardiovascular diseases.

People
Jim Van Heusden is the CEO of Karolinska. Carina Schmidt is the CEO of Athera.

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• Topics
• Expansion
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• Industrifonden
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