STOCKHOLM, SWEDEN – May 11, 2020. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company OssDsign has received full and nationwide cost reimbursement for its implant product OssDsign Cranial PSI in Japan. The decision was made by the Ministry of Health, Labor and Welfare of Japan (MHLW), and will come into force in early June 2020.

   
OssDsign is an innovative company that designs and manufactures implants and material technology for bone regeneration. The granting of national cost reimbursement for OssDsign Cranial PSI represents an important milestone in its establishment in Japan. OssDsign has already obtained good relationships with key institutions, policy makers and reference clinics and is now conducting final negotiations with a local business partner to gain access to a national distribution network.

“The granting of full reimbursement for an innovative implant product in Japan - one of the world's largest markets for cranial reconstruction - is a significant milestone for our portfolio company OssDsign. The product has already been successfully used by a number of selected Japanese neurosurgeons, and we now look forward to following the full-scale launch,” says Viktor Drvota, CEO of Karolinska Development.

The Japanese cost reimbursement system is based on the size of the implants and the levels now confirmed by MHLW are between those achieved in Europe and the United States, respectively. OssDsign Cranial PSI is expected to become available in Japan during the third quarter of 2020. The company plans to gradually launch more products in Japan from its growing portfolio of innovative solutions for cranial and facial reconstruction.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Fredrik Järrsten, CFO and deputy CEO, Karolinska Development AB
Phone: +46 70 496 46 28, e-mail: fredrik.jarrsten@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 a portfolio of ten 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