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Karolinska Development portfolio company Promimic and Danco announce completion of US production line for HAnano Surface medical implant coating

20:00 EDT 18 Oct 2016 | Globe Newswire

STOCKHOLM, Oct. 19, 2016 (GLOBE NEWSWIRE) -- Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Promimic AB, an innovative biomaterials company, and its partner Danco Anodizing have successfully completed the production line in the USA for Promimic's HAnano Surface coating for orthopedic and dental implants

Details from the Promimic press release follow:

Promimic and Danco entered a strategic partnership in March 2016 under which Danco became the preferred process partner for Promimic for the USA and China medical implant markets. Danco has also invested in the production line for HAnano Surface at its manufacturing facility in Warsaw, IN, USA.

Promimic's HAnano Surface represents a new era of implant surfaces, based on bio-mimicking synthetic bone minerals. The unique and proprietary HAnano Surface is only 20 nanometers thin and can be applied to almost any implant material. It has been shown to increase the anchoring strength and integration of medical implants with surrounding bone tissue in over 20 pre-clinical studies. The HAnano Surface is already in clinical use on dental implants in Brazil. Promimic recently raised SEK 23.8 million to establish its own sales operations in the US.

Danco Anodizing has been a leader in the processing of titanium, stainless steel, and aluminum parts for the orthopedic industry since 1992 and works with many of the leading orthopaedic implant companies on the US market.

Ulf Brogren, Promimic CEO, said: "We are excited to finalize the production line with our strategic partner Danco. We firmly believe this will further increase already strong interest in Promimic's innovative technology from implant companies supplying the US and Chinese markets. The new US production site will facilitate easy access and minimal investments for our customers, giving them flexibility and a faster route to market."

Dean Zentz, Danco VP Operations, said: "Danco is pleased to be a part of this exciting venture with Promimic and is confident Promimic's technology and our manufacturing expertise will offer our customers an improved solution for medical implants."

For further information, please contact:

Jim Van heusden, CEO, Karolinska Development AB

Phone: +46 72 858 32 09, e-mail: jim.van.heusden@karolinskadevelopment.com

Christian Tange, CFO, Karolinska Development AB

Phone: +46 73 712 14 30, e-mail: christian.tange@karolinskadevelopment.com

David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson

Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk

TO THE EDITORS

About Promimic AB

Promimic, based in Gothenburg, Sweden, develops and markets products within nano-materials for innovative surface treatments. Promimic has developed; HAnano Surface that has been shown to speed up and improve the anchoring of implants in bone. The innovative HAnano Surface is licensed to dental and orthopaedic implant companies www.promimic.com

Contact: Ulf Brogren, CEO

Phone: +46 730 79 42 07; e-mail: ulf@promimic.com

About Danco Anodizing Inc

Established in 1971 with headquarters in Arcadia, CA and supporting facilities in Ontario, CA, Santa Ana, CA, Warsaw, IN, and Changzhou, China, Danco provides technically superior surface treatments to many diverse industries, including the medical device industry. Danco-Warsaw and Danco-China are ISO 13485, and have extensive process validations to support customer and regulatory requirements. www.danco.net

About Karolinska Development AB

Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients' lives and provide an attractive return on investment to its shareholders.

Karolinska Development has access to world-class medical innovations at leading universities and research institutes in the Nordic region, including the Karolinska Institutet. The Company aims to build companies around innovative products and technologies, supported by experienced management teams and advisers, and co-funded by specialist international life science investors, to provide the greatest chance of success.

Karolinska Development's portfolio comprises 10 companies focusing on the development of innovative treatment for life-threatening or serious debilitating diseases.

The Company is led by a team of investment professionals with strong investment backgrounds, experienced company builders and entrepreneurs, with access to a strong global network. For more information, please visit www.karolinskadevelopment.com

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