New share issue of 600.000 shares completed

NEW SHARE ISSUE OF 600.000 SHARES COMPLETED

Karo Bio AB (publ) has completed a new share issue of 600.000 shares that
have been allocated to Swedish and international investors. The share
price was set at 336 SEK per share providing the Company with 200 MSEK.

– The new share issue is aimed at a broadening of the institutional owner
base and secures Karo Bio’s strategy to negotiate new strategic
partnerships, to acquire new technologies and to start new projects from a
strong financial position, says Torben Jørgensen, President of Karo Bio.

D. Carnegie AB has acted as financial advisor for Karo Bio.

Questions concerning this press release shall be directed to:
Torben Jørgensen, President, Karo Bio AB, Telephone: +46-8-608 6020

Background
Karo Bio is a research-based pharmaceutical company developing
pharmaceuticals for the treatment of common diseases such as osteoporosis,
cancer, diabetes, and cardiovascular and metabolic diseases. The
technology platform includes both nuclear receptors, where Karo Bio has a
leading position in the world, and, after the acquisition of Novalon,
knowledge of genomics. Development takes place in collaboration with
international pharmaceutical companies. Karo Bio has collaborative
agreements with such leading international life science companies as
Abbott Laboratories, Bristol-Myers Squibb, Merck & Co. Inc., Bayer AG,
Ares-Serono, Millennium Pharmaceuticals Inc. and Novartis Research
Foundation. Karo Bio will now have over 110 employees and operations in
Stockholm, San Francisco and Durham, North Carolina. The company is listed
on the “O” List of the OM Stockholm Stock Exchange.

Homepage: www.karobio.se

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