Karolinska Development AB announces that its portfolio company Promimic and the US -based company Danco Medical form a joint venture for the Processing of Medical Implants in the US market. The strategic initiative is expected to have a major impact on Promimic's growth and profitability as early as next year. Danco Medical has been Promimic's partner in the US.

since 2016 and the companies are now deepening their collaboration further. Promimic acquires 60% of the newly formed joint venture company Nano Processing through a transaction that includes both cash and shares. Through the transaction, Danco Medical will receive new shares and a minority owner position in Promimic.

The business is based on Promimic's core HAnano Surface, which is currently used in several orthopaedic areas in the US. For the period January-May 2022, Promimic's pro forma share in Nano Processing is valued at a turnover of SEK 1,858,000 and a profit before tax of SEK 743,000. The acquisition was completed on July 21,2022, and is financed with cash to the value of USD 417,750 and newly issued shares to the value of USD 1,350,000 in Promimic.

Promimic develops and markets HAnano Surface, a unique, nanometer-thin surface treatment that aims to improve the anchorage and healing of orthopedic and dental implants into bone tissue. The technology is well established and has so far been applied to over 700,000 implants in clinical use around the world.