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Karo Pharma AB Board/Management Information 2011

Aug 17, 2011

6166_rns_2011-08-17_8a1ca05c-b7ea-4679-8ff9-cb7a980b965a.pdf

Board/Management Information

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CHANGES IN MANAGEMENT OF KARO BIO AB

STOCKHOLM, August 17, 2011 - Karo Bio AB (publ) today announced that Jens Kristensen, Chief Medical Officer and Vice President Preclinical Development and Regulatory affairs, leaves his position.

Acting President and CEO Per Bengtsson will temporarily assume management responsibility for clinical development and regulatory affairs until a new Chief Medical Officer has been recruited. The change in management will not affect the clinical development plan of eprotirome.

For further information please contact:

Göran Wessman, Chairman of the Board Cell: +46 708 161 450

Per Bengtsson, acting President and CEO Cell: +46 734 474 128

About Karo Bio

Karo Bio is a pharmaceutical company focused on the research and development of innovative drugs for unmet medical needs. Karo Bio's vision is to become a pharmaceutical company with sustainable profitability, commercial products and a competitive project portfolio.

Karo Bio 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. Important processes and competencies within the company include research, drug development, medical and regulatory expertise.

In addition to proprietary projects, Karo Bio has three strategic collaborations with international pharmaceutical companies. The company's goals through 2014 are to submit an application for marketing approval of eprotirome for HeFH in EU, and to generate three clinical development projects from its other operations.