Karolinska Development AB expects that selling a stake in some of its portfolio to a syndicate led by Rosetta Capital Ltd. will provide enough cash to advance the entire portfolio to a point at which Karolinska can out-license the projects or sell the companies.

Rosetta and the undisclosed syndicate will acquire a minority stake in 13 of Karolinska's 25 portfolio companies. The deal - Rosetta's fourth secondary transaction - is typical for the London life science venture firm, but will likely be the only such arrangement for Karolinska.