Karo Pharma AB — Board/Management Information 2011

Oct 24, 2011

2011 10 24

PER BENGTSSON APPOINTED CEO

STOCKHOLM, October 24, 2011 – The Board of Directors in Karo Bio AB (publ) has appointed Per Bengtsson, CEO. Per Bengtsson has been acting CEO and member of the Board since May.

"Karo Bio is facing several major challenges that beyond niche expertise also places high demands on commercial ability. Per knows Karo Bio well and has this competence, so we are delighted that he has accepted the challenge," says Chairman of the Board Göran Wessman.

"In parallel with the Phase III program for eprotirome, Karo Bio has interesting and promising development projects which are attracting great interest. My goal is to highlight values within the company and to create optimal conditions for commercial success," says Per Bengtsson.

Per Bengtsson is a licensed physician and doctor of medicine (PhD). He began his career in biotech as a medical officer and project manager at Karo Bio in the early 1990's. He has since then been Medical Director and Therapeutic Area Head at Ferring, CEO of Probi AB (publ), Head of R&D at Pharmacia/Pharmacia & Upjohn Plasma Products, and Development Manager at Bionor Immuno A/S.

For further information, please contact:

Göran Wessman, Chairman, phone: +46 708 16 14 50

About Karo Bio

Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for large medical needs. The company runs a number of drug development projects within the indication areas cardiovascular and metabolic diseases, neuropsychiatry, inflammation, autoimmune diseases, cancer and women's health. An important foundation for the company's activities is its unique knowledge of nuclear receptors as target proteins for the development of novel pharmaceuticals, as well as related mechanisms of action. Karo Bio is based in Huddinge, Sweden, has around 70 employees and is listed on NASDAQ OMX Stockholm.

Karo Bio publishes this information in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was published on 24 October, 2011, at 08:30 am CET.

This press release is also available online at www.karobio.com and www.newsroom.cision.com