Karolinska Development AB announced that Bo Jesper Hansen, MD, PhD, Chairman of the company's Board, has informed Karolinska Development's Nomination Committee that he will not stand for re-election at the 2017 Annual General Meeting. The Nomination Committee's proposals will be announced in a separate press release in connection with the notice of the 2017 Annual General Meeting which is due to take place on 24 May 2017. The company also announced that its CEO, Jim Van heusden, PhD, has tendered his resignation and will formally leave the company at the end of October 2017.

The Board of Directors announced the promotion of Viktor Drvota MD PhD as the company's Chief Executive Officer, effective June 1, 2017. Dr. Drvota is currently Karolinska Development's Deputy Chief Executive Officer and Chief Investment Officer. Dr. Drvota joined Karolinska Development as Chief Investment Officer in February 2016 and was promoted Deputy Chief Executive Officer in March 2017.

Dr. Drvota brings more than 15 years of life science investment experience. Prior to joining Karolinska Development he worked at SEB Venture Capital, where he was Head of Life Science from 2002 and a senior investment manager. Before joining SEB, Viktor was a practicing cardiologist at Huddinge University Hospital in Stockholm.

He has been an Associate Professor in Cardiology at Karolinska Institutet, Stockholm, since 2002.