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CORRECTION - Umecrine Mood receives financing for continued clinical development and strengthens the Board

April 13, 2011 - Stockholm, Sweden

Umecrine Mood AB, part of the Karolinska Developmentportfolio, today announces that it has concluded a new share issue,securingfinancing for the continued clinical development of its novel therapy totreatsevere premenstrual symptoms. Through the new share issue, Kurma Biofundbecomesan important shareholder. Further, an extra shareholders meeting haselected anew Board of Directors. After the new share issue, Karolinska Developmentholds39 percent of Umecrine Mood.

Premenstrual Dysphoric Disorder (PMDD) is a condition with severe impact onthedaily living of about five percent of all women in fertile age. It iscaused byan altered sensitivity in the emotional center of the brain to anendogenoussteroid produced following the ovulation. Hence, PMDD is characterised byrecurrent, cyclic episodes of depression, anxiety and mood lability forwhichthere is a great need of better treatment alternatives than available tothepatients today. Umecrine Mood's selected drug candidate is in clinicalphase I,with the ambition to initiate a phase II program during next year.

Karin Ekberg, CEO Umecrine Mood:"We are delighted for the continued funding from current owners and forhavingattracted new financing from Kurma Biofund for our program. We expect thatthepresent financing will enable us to pursue clinical Phase I and II studies.

Thierry Laugel, Managing Partner KLS Partners:"Umecrine Mood is an exciting investment opportunity and a very innovativeprogram that will provide great benefits to women suffering from PMDD. Itis thefirst ever therapy developed specifically to treat PMDD and severepremenstrualsymptoms and will address a very high medical need".

Furthermore, an extra shareholders meeting has elected Ola Flink aschairman,and Torbjörn Bäckström, Elias Eriksson, Alain Munoz, ThierryLaugel, and OttoSkolling as non-executive members the Board. Thereby, the company'sexperiencefrom business development is strengthened, as is the clinical expertise inthearea of female mental illness.

Torbjørn Bjerke, CEO Karolinska Development:"Umecrine Mood is a company with great potential. Umecrine Mood now has theresources and conditions for developing its product to a point where itwill beable to attract larger pharmaceutical companies to take on the program andcontinue its development through Phase III and to the market.


About Umecrine Mood

Umecrine Mood develops novel products to treat the mental and physicalsymptomsassociated with Premenstrual Dysphoric Disorder (PMDD) and severePremenstrualSyndrome (PMS) caused by a endogenous CNS-active steroid derived from thecorpusluteum of the ovary. The company portfolio includes newly discovered leadcompounds and the selected drug candidate is a first-in-class compound thatinhibits the provocateur to act on the emotional center of the

About Kurma Biofund

Kurma Biofund is a venture capital fund dedicated to innovations in LifeSciences and Healthcare. The fund has a unique positioning based onfinancingassets with mid term realizations (3 to 5 years) for technology transferandmore mature projects. Kurma relies on high quality investment opportunitiesgenerated through a network of partnerships in France and abroad withleadingresearch institutes, and a strong experienced team. Kurma Biofund ismanaged byKLS Partners in Paris.

About Karolinska Development

Karolinska Development aims to create value for investors, patients, andresearchers by developing innovations from world class research intoproductsthat can be sold or out-licensed with high returns. The business model isto:SELECT the most commercially attractive medical innovations; DEVELOP thesetothe stage where the greatest return on investment can be achieved; andCOMMERCIALIZE the innovations through the sale of companies or outlicensing ofproducts. This will result in upfront payments, milestone payments androyalties.

An exclusive deal flow agreement with Karolinska Institutet Innovations AB,along with other cooperation agreements with leading Nordic universities,delivers a continuous flow of innovations.

Karolinska Development's flexible exit strategy enables projects to beexited atwhichever stage of development offers the greatest return on investment,usuallyafter Phase II clinical trials have indicated the desired pharmaceuticaleffecton patients - this being an important value enhancing step.

Today, the portfolio consists of over 40 projects at various stages, fromconcept development to Phase II clinical trials, twelve projects are inclinicaltrials with six in Phase II. The portfolio is particularly strong in theareasof cancer, dermatology, inflammation, cardiovascular disease, women'shealth anddiseases that affect the central nervous

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Source: Karolinska Development AB (publ) via Thomson Reuters ONE


For further information, please contact:

Karin Ekberg
Umecrine Mood AB
Phone: +46 8 524 844 82
e-mail: Email Contact

Thierry Laugel
Managing Partner
KLS Partners
Phone: +33 1 581 944 07
e-mail: Email Contact

Torbjorn Bjerke
Karolinska Development AB
Phone: +46 72 744 41 23
e-mail: Email Contact


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