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About KD Ventures

KDventures is a listed Nordic life science investment company that invests in and develops innovative pharmaceutical, biotech and medical technology companies. Through specialist expertise, active ownership and a focused portfolio, we work to address major medical needs and create long-term value.

2003

KDventures was founded

20+

years of experience in life science

1300+

innovations evaluated

60+

companies developed and financed

Viktor Elisabet

We invest in the life science of the future

We seek Nordic life science companies with differentiated innovations, clear medical needs and the potential to achieve clinical and commercial success. We primarily focus on projects that have progressed beyond the very earliest research and where clear milestones can drive development and create value.

Our investments span pharmaceuticals, biotechnology and medical technology. What the companies have in common is the potential to improve how serious diseases are prevented, diagnosed or treated.

An active owner driving the next step

Strategic advice

We help companies prioritise correctly and choose a clear path towards clinical and commercial success.

Operational follow-up

We monitor studies, milestones, liquidity, financing needs and risks throughout the development process.

Financing and capital strategy

We support capital raising and direct resources towards the most important value drivers.

Board work and corporate governance

Through active board work, we contribute to clear decisions, the right organisation and strong governance.

Network and specialist expertise

We combine life science expertise with experience in investments, financing and transactions.

Partnerships and transactions

We position companies for partnerships, licensing agreements, sales and stock market listings.

A mature portfolio with clear value drivers

KDventures has over 20 years of experience investing in life science and has for a long time invested significant capital and resources in developing its portfolio companies. Several of the companies have now reached mature clinical and commercial positions, with projects in or on the way to later development phases.

In the coming years, several important study results and other value-driving milestones are expected. Positive outcomes can strengthen the opportunities for larger licensing agreements, industrial partnerships, financings or sales, thereby creating significant value for KDventures shareholders.

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We invest in the life science of the future

Life science includes pharmaceuticals, biotechnology and medical technology aimed at preventing, diagnosing and treating diseases. The sector is driven by scientific advances and a great need for new and better treatments.

A significant part of innovation takes place in smaller, specialised companies that develop new treatments with funding from investors. When projects have progressed far enough, larger pharmaceutical companies can provide the financing, development capacity and global organisation required to take them further through licensing agreements, partnerships or acquisitions.

Positive clinical results and other important advances can therefore create significant value long before a product reaches the market. At the same time, development is lengthy, capital-intensive and associated with risk, making specialist expertise, a long-term approach and risk diversification particularly important.

Over 20 years of life science investing

2003

KDventures is founded

KDventures was founded with the ambition of developing promising medical innovations from Karolinska Institutet and other leading Nordic universities into commercially successful life science companies.

2011

Listing on Nasdaq Stockholm

After evaluating more than 1,300 innovations, the company was listed in 2011. At the time, the portfolio consisted of 27 companies with a total of 36 projects.

2012

International investor collaboration

In 2012, KDventures initiated a collaboration with the international specialist investor Rosetta Capital to strengthen the financing of several portfolio companies. The collaboration went on for more than a decade.

2014

A comprehensive strategic shift is implemented

In 2014, KDventures shifted its strategy, divesting less innovative companies to focus on “first in class” projects. Commercial expertise was strengthened and projects expanded into more indication areas to increase potential and diversify risk.

2015

Strengthened financial base

In 2015, a financing of approximately SEK 450 million was carried out. In connection with the transaction, Sino Biopharmaceutical became a significant owner in KDventures.

2017

First positive full-year result

Progress in the portfolio and completed divestments contributed to KDventures reporting a positive full-year result. At year-end, the investment portfolio consisted of ten companies.

2018

Continued clinical progress

Several portfolio companies advanced clinically and attracted new specialist investors, including significant international capital to Aprea Therapeutics.

2019

Aprea is listed in the US

Aprea Therapeutics was listed on Nasdaq in the US and Forendo Pharma entered into a significant licensing agreement with Novartis. The same year, KDventures reported a record result.

2021

Forendo Pharma is acquired by Organon

Organon acquired Forendo Pharma in a deal with a potential total value of up to USD 945 million, one of the largest transactions in KDventures' history.

2022

Rights issue strengthens the company

KDventures carried out a rights issue that provided the company with close to SEK 380 million and strengthened the conditions for continued development of the portfolio.

2026

A simplified KDventures

Karolinska Development changed its name to KDventures. The company acquired Rosetta Capital's shares in KDev Investments and thereby removed the previous dividend structure, creating a more direct and transparent exposure to the portfolio's value development.

From medical progress to realised value

Value is built when portfolio companies reach clinical, regulatory and commercial milestones. It can then be realised through licensing agreements, industrial partnerships, the sale of all or parts of a company, or through a stock market listing.

The most suitable route is assessed based on each company's development, financing needs and commercial opportunities.

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A focused portfolio with clear value drivers

KDventures' portfolio mainly consists of companies with projects in clinical or commercial development. Several of the companies are approaching important study results, regulatory advances, financings and partnerships that may be of great importance for their continued development.

By being exposed to several companies and projects, multiple possible routes to value are created. We prioritise the holdings where upcoming milestones can have the greatest value impact and where KDventures has good opportunities to influence development.

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Exposure to Nordic life science

By investing in KDventures, shareholders gain exposure to several Nordic life science companies and medical innovations at different stages of development. Our task is to combine specialist expertise, active ownership and capital discipline to create the conditions for long-term shareholder value.

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