STOCKHOLM, January 14 /PRNewswire/ -- Karolinska Development AB (publ), and BioChromix AB announced today the formation of BioChromix Pharma AB, a new company working to develop a novel Alzheimer treatment with its unique knowledge of molecular chemistry. Karolinska Development will initially take 28 percent ownership in the new company.

We are very excited about BioChromix Pharma as they have a novel approach that targets the cause of the disease. This is an important addition to our portfolio, says Conny Bogentoft, CEO of Karolinska Development.

We have a clear goal - to bring our lead product candidates for Alzheimer's disease to the market. Being part of the Karolinska Development portfolio, will provided direct access to a broad network of key competencies and resources in the pharmaceutical industry which will be of great importance for us in order to succeed, says Peter Asberg, CEO of BioChromix Pharma AB.

About Karolinska Development

Karolinska Development manages one of the largest portfolios of life science companies in Europe.

Using a unique, highly cost efficient business model, the management team guides the commercialization of world class life science innovations, helping to shape the next generation pharma industry. Since 2003, Karolinska Development has built a portfolio of some 40 companies; among the company's projects 12 compounds are undergoing clinical trials. The portfolio also includes a total of 19 potential first in class products. http://www.karolinskadevelopment.com

About BioChromix

BioChromix AB is a company in the life science arena that develops and commercializes products for early stage diagnosis and monitoring of Alzheimer's disease (AD), and identification of biomarkers associated to AD. The Company's methods are based on our novel and patented LCP molecules. The Company also develops an innovative non-invasive live imaging method for AD. http://www.biochromix.com

About BioChromix Pharma

BioChromix Pharma AB is a pharmaceutical company mission is to carry out research and development of novel treatments for neurodegenerative disorders based on its proprietary polymer technology for therapeutics. Current research and development is focused on the treatment of Alzheimer's disease but the prion diseases, Parkinson's disease and other neurodegenerative disorders might also be included in the future. http://www.biochromixpharma.com

For more information please contact:

Conny Bogentoft, CEO, Karolinska Development AB, Cell phone +46-70-668-61-43, info@karolinskadevelopment.com

Peter Asberg, CEO, BioChromix Pharma AB, Cell phone: +46-70-949-17-21, info@biochromixpharma.com

SOURCE: Karolinska Development AB (publ), and BioChromix AB

CONTACT: For more information please contact: Conny Bogentoft, CEO,Karolinska Development AB, Cell phone +46-70-668-61-43, info@karolinskadevelopment.com; Peter Asberg,CEO, BioChromix Pharma AB, Cell phone: +46-70-949-17-21,info@biochromixpharma.com