biomedical research companies in sweden

20 Top BioPharma Startups & Companies (Sweden)

InDex Pharmaceuticals

InDex Pharmaceuticals is a chronic disease with recurrent forest which involves a disability for several millions of down people. Based out of Stockholm, Stockholms Lan, Sweden

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Asarina Pharma

Asarina Pharma is a company targeted on developing products to treat women with severe symptoms associated with the menstrual cycle. Based out of Solna, Stockholms Lan, Sweden

Sprint Bioscience

Sprint Bioscience AB offers a modular gene-to-lead drug discovery platform for fragment-based drug discovery, including protein expression Based out of Stockholm, Stockholms Lan, Sweden

Vicore Pharma

Vicore Pharma is a pharmaceutical company dedicated to developing innovative medicines for severe lung disorders. Based out of Mölndal, Vastra Gotaland, Sweden

Dilafor AB is a Swedish drug development company focusing on the development of tafoxiparin for obstetric indications. Based out of Solna, Stockholms Lan, Sweden

BioReperia is a start-up service company that develops new products for accelerating drug discovery. Based out of Linköping, Ostergotlands Lan, Sweden

Glionova is a privately held biopharmaceutical company focused on developing new therapies for cancer. Based out of Stockholm, Stockholms Lan, Sweden

Corline Biomedical

Corline Biomedical is a pharmaceutical company based in Sweden. Based out of Uppsala, Uppsala Lan, Sweden

Olink develops ground-breaking technologies for biomolecular analysis. Based out of Uppsala, Uppsala Lan, Sweden

SelectImmune Pharma

SelectImmune Pharma engages in the development and manufacture of immune enhancers as an alternative to antibiotics. Based out of Lund, Skane Lan, Sweden

BioArctic AB

BioArctic is a Swedish research-oriented biopharma company. Based out of Stockholm, Stockholms Lan, Sweden

NeoDynamics

This company is a Swedish medical technology company focused on improving the diagnosis and treatment of breast cancer. Based out of Lidingö, Stockholms Lan, Sweden

Adenovir Pharma

Adenovir Pharma develops solutions for the treatment of infectious diseases affecting the eyes. Based out of Helsingborg, Skane Lan, Sweden

Xspray Pharma

Xspray Pharma is a biotechnology company Based out of Solna, Stockholms Lan, Sweden

PROBION INNOVATION SWEDEN

Biotech company focused on probiotic clinical trials & innovation regarding the ProBion tablet technology for colon cancer, IBS, infertility Based out of Gothenburg, Vastra Gotaland, Sweden

Q-linea is a privately held company that develops and sells applications and systems for detecting, for example, biological warfare agents. Based out of Uppsala, Uppsala Lan, Sweden

Biolipox is a research-intense pharmaceutical company that develops new treatments for inflammatory diseases Based out of Solna, Stockholms Lan, Sweden

Noviga Research

Noviga Research is focused on the development of small molecules for the new, more effective treatment of cancer. Based out of Södertälje, Vasternorrlands Lan, Sweden

Truly Labs provides tailor-made in vitro and in vivo services. Based out of Lund, Skane Lan, Sweden

Axichem is an biotechnology company specializing in development of natural analogue ingredients. Based out of Malmö, Skane Lan, Sweden

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10 biotech companies in Sweden you should know about

This article was originally published in January 2019 and has since been updated by Roohi Mariam Peter, on June 6, 2023.

Known for its abundant forests, smorgasbords and not to mention the famed Europop group ABBA, Sweden has a thriving economy that largely depends on manufacturing and exports. And the country’s life science sector having recorded a net turnover of almost SEK 365 billion ($33.5 million) in 2020, is ever-growing.

Home to more than 1,000 life science companies, and with the rigorous research conducted by ​​globally-renowned Karolinska Institutet, as well as other leading institutions, the country has a booming biotech industry. 

As we celebrate the National Day of Sweden of June 6, let us explore 10 biotech companies that have secured funding to further strengthen their projects and pipelines, in the past year.

In the fight against solid tumors , immunotherapy has been at the forefront of cancer treatment. Based in the city of Södertälje, Anocca focuses on developing immunotherapies against tumors, and has more than 10 indications in its pipeline, which are in preclinical stages.

Its technology platform uses engineered human T-cells, and aims to identify disease antigens. Part of the company’s goal is to construct libraries of these engineered antigen presenting cells (eAPCs), where each cell carries a single HLA gene, enabling the ability to map antigens. The company has its own in-house clinical-scale manufacturing and process development facility. Here, the production of viral vectors for the genetic modification of patient T-cells takes place, along with cryopreservation of its product. 

The company has collaborated with Karolinska Institutet for the development of its T-cell therapies. In May, the company raised SEK 400 million ($36.7 million) through an equity financing round led by AMF and Mellby Gård, making a total of $110.1 million in investments since it was founded in 2014. 

Gedea Biotech

An imbalance of the vaginal microbiome can lead to a condition called bacterial vaginosis, where an abnormal vaginal discharge is secreted. The disease, which increases the chances of infertility, preterm birth and contracting sexually-transmitted infections (STIs), is usually treated with antibiotics, but when overused, can promote antibiotic resistance. Gedea Biotech aims to tackle this problem by developing the first-ever antibiotic-free treatment for the condition.

Situated in the city of Lund in Southern Sweden, the biotech company’s drug candidate pHyph is designed to restore the pH in the vagina which is elevated in the case of bacterial vaginosis, due to infectious bacteria. pHyph removes the infectious bacterial build-up of biofilm so as to rehabilitate the healthy vaginal microbiome. The active ingredient in the drug has received the Generally Recognized As Safe (GRAS) status by the U.S. Food and Drug Administration (FDA).

Having observed symptom relief in 90% of its patients in its latest clinical trials , Gedea Biotech obtained €1.3 million ($1.4 million) for marketing pHyph, in a funding round that took place in May, which had Swelife and MedTech4Health as its major investors.

As immuno-oncology drugs are regarded as a significant breakthrough of this century, BioInvent has developed a technology platform to create antibody-based immunotherapies. 

The company’s F.I.R.S.T platform identifies targets and the antibodies that bind to the targets for drug development. The screening tool has led to an extensive pipeline with six indications, which includes BT-001 – which is being developed in collaboration with French biotech Transgene – that targets the protein receptor CTLA-4, and BI-1808, which targets tumor necrosis factor receptor 2 (TNFR2). Both the candidates – currently in phase 1 trials – reduce intratumoral Treg cells and expand antitumor CD8+ effector T cells. Moreover, this month, BioInvent obtained Investigative New Drug (IND) approval from the FDA for its anti-TNFR2 monoclonal antibody BI-1910.

To make the process of precisely identifying antibodies that bind to the specific target protein easier, the Lund-headquartered company’s antibody library n-CoDeR contains more than 30 billion human antibody genes stored within phages in test tubes.

In April, the company announced that it had secured $3 million in a post-IPO equity round during the first quarter of 2023.

Hamlet Pharma

Also located in Lund in Southern Sweden , this biotech company specializes in therapies for different types of cancers. Its drug candidate, Alpha1H, works by binding to oleic acid to form a complex that inhibits tumor development in bladder cancer. In a collaboration with Welsh biotech Neurochase, Hamlet Pharma is also investigating the candidate for central nervous system (CNS)-related tumors. Animal studies have shown that it markedly delayed the development of glioblastoma. 

Additionally, the company has BAMLET in its pipeline, which has shown potential in the treatment of colon and oral cancers. Made from cow’s milk, BAMLET contains alpha-lactalbumin that can hinder the growth of tumor tissue. 

Set up in 2015, the biotech received €300,000 ($320,650) in a grant from the European Commission (EC) in April to accelerate its bladder cancer project, and is set to receive funds from the EC later this year, which would bring the total funding amount to €2.2 million ($2.4 million). 

Diamyd Medical

Set up nearly three decades ago in Sweden’s capital, this biotech company is focused on developing precision therapies for the treatment of autoimmune diabetes, which affects the insulin-producing pancreatic beta cells, due to inflammation.

One of the drug candidates, Diamyd, is an antigen-specific immunotherapy that targets the protein antigen GAD65. It is being evaluated in a phase 3 clinical trial along with a booster regimen in phase 2 trials. The company’s other candidate is Remygen, an immunomodulatory and regenerative therapy, which is based on the cell signaling molecule GABA found in the pancreas. Remygen is currently undergoing phase I/II trials, and preclinical data has demonstrated its potential to stimulate the growth of insulin producing cells.

Diamyd Medical has raised a total of $5.1 million in funding over 2 rounds, most of which – $5 million – was acquired in the latest financing round that took place in April, which saw participation from investors like The Juvenile Diabetes Research Foundation (JDRF) and Pittsburgh Life Sciences Greenhouse.

Modus Therapeutics

Sevuparin is a non-anticoagulant molecule that is being developed by Stockholm-based Modus Therapeutics for the treatment of sepsis. Sepsis, which is the body’s extreme response to infection, can be deadly in its most severe form, sepsis shock – as mortality rates exceed 30%.

The company’s drug candidate aims to counteract the inflammation in sepsis, but unlike its predecessor compound heparin, it does not cause blood thinning. With options for both intravenous and subcutaneous delivery, sevuparin interferes with white blood cells during inflammation. Earlier this year, the company announced positive results for the candidate which was found to be safe and well-tolerated.

Founded in 2011, the company secured access to bridge financing of SEK 7 million ($645,000) from investment firm Karolinska Development in March. The company has obtained a total of SEK 190.5 million ($17.6 million) in funding.

To enable cells to function properly, a set of processes collectively known as DNA damage response (DDR) takes place. What may be the activation of repair pathways or, if irreparable, the induction of apoptosis in normal cells, in cancer cells these pathways vary. Thereby, targeting the DDR could treat a range of cancers. And Aprea is focused on exactly that.

The Sweden-based biotech company aims to target ataxia telangiectasia and Rad3 related (ATR), a protein that regulates the response of defective replication. Having developed a macrocyclic inhibitor of ATR (ATRN-119), it is investigating the drug both as a monotherapy as well as in combination with PARP inhibitors (PARPi) – a kind of cancer drug. ATRN-119 received IND approval from the U.S. FDA for which it began clinical trials this year. The biotech has also created a drug that inhibits WEE1 – a protein that, when overexpressed, promotes cancer cell resistance – which is in its preclinical phase for the treatment of advanced solid tumors.

Established in Stockholm, Aprea secured $5.5 million from a post-IPO equity round in February, amassing a total of  $120.4 million in funding over six rounds since it was founded in 2003.  

While vegan foods like tofu and pulses are rich in proteins, the nutritional value of fungi is being leveraged by Swedish company Mycorena to expand fibrous, protein-filled dietary options.

Based in Gothenburg in Western Sweden, the biotech company has two products in its lineup: PROMYC, a vegan mycoprotein ingredient produced through fermentation, which has less than 3% of fat and is sugar-free, and Mycolein, for people who are looking to reduce their consumption of saturated fats – like animal fats. Mycolein is developed from the company’s proprietary emulsion technology, where fungi is used as a stabilizer. Mycorena’s fermentation process employs filamentous fungi to grow mycelia – networks of fungal threads – in order to maximize the output. 

Additionally, the company is collaborating with the European Union (EU) in a food waste recycling program that utilizes fungi, where resources are fed back into the food production system. 

In January, Mycorena received €1.5 million ($1.61 million) from an EU grant for the development of 3D printable mycoprotein, along with Austrian startup Revo Foods.

Enzymes are vital for many of the processes that support the functioning of our body. EnginZyme applies the catalytic properties of enzymes to provide alternatives to chemicals, in an attempt to boost sustainable manufacturing.

Located in Stockholm, the company’s cell-free platform technology EziG enables significantly lower amounts of waste production when compared to traditional methods that rely on chemicals. The enzymes are manufactured in fixed-bed reactors. Through enzyme cascades, EnginZyme serves markets such as the prebiotic foods industry, pharmaceutical sector – for the production of raw materials for vaccine development – and in the cosmetics industry.

The company was selected to be part of the 2023 GCT100, an index created by Cleantech Group to commemorate companies that are committed to taking action on the climate crisis. 

Last year, in December, the company raised €21 million ($22.5 million) in a series B financing round. The round saw new investors, including Almi Invest GreenTech, Navigare Ventures and Bunge Ventures, join existing investors Sofinnova Partners, Industrifonden and SEB GreenTech VC.

Focused in the field of antimicrobial peptides , Amferia is developing wound care dressing to expedite healing. Its antimicrobial gel is designed to bind and kill bacteria for up to five days before dressings need to be changed. With a shelf-life of up to 18 months, the product can also be formulated as a spray that can be dispersed through an aerosol to cover broader areas of the skin and wounds. These antimicrobial peptides are derived from the mammalian immune system and can rapidly and selectively kill bacteria, including those resistant to antibiotics.

Using its technology platform, the company has also created antimicrobial patches that can be applied at an incision site prior to a surgical procedure, to ensure a sterile environment and reduce complications. In a collaboration with Chalmers University of Technology , Amferia is looking to produce antimicrobial catheters and even develop antimicrobial coatings to catheters.

Having proven that the application of Amferia wound dressing led to bacterial reduction by 99.9% in clinical trials, the company, which was founded in 2018, is also examining the efficacy of its Amferia hydrogel dressings to treat post-surgical wounds in cats and dogs.

Situated in western Sweden in Mölndal, Amferia raised SEK 15.4 million ($1.4 million) in a seed funding round in January, with investment from Chalmers Ventures AB and Almi Invest.

As Sweden’s biotech industry grows rapidly, companies like cancer diagnostics company Elypta and clinical-stage biotech Sigrid Therapeutics have also received funding this year. Moreover, relatively newer startups like molecular diagnostics company Rarity Bioscience, sustainable biotech Norbite and Arcede Pharma – specializing in developing therapies for respiratory illnesses – have all secured funding to further develop their respective products, platforms and drug candidates.

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6 Biotechs to Watch in Sweden

With a strong research base formed around the Karolinska Institute and Uppsala University, Sweden has grown to be one of Europe’s premier biotech hotspots. Several companies spun out of research conducted at these institutes and others are now listed on the Stockholm stock exchange and already have products on the market. Here are six to watch…  

Sweden’s biotech sector includes more than 16,200 employees in 285 companies. More than 57% of these biotech companies are dedicated to drug discovery and development, nearly 14% to medical technology, and the rest are divided among various sectors.

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We take a closer look at six Swedish biotechs to watch, all of which are listed on the Nasdaq Stockholm and have a number of drugs in their clinical pipelines. 

Oncopeptides

CEO: Jakob Lindberg, since 2011

Therapeutic area: Cancer (myeloma)

Nasdaq: ONCO

Established in 2000 and based in Stockholm, Oncopeptides is focused on developing drugs for the treatment of cancer. Oncopeptides’ founders are among Sweden’s leading oncology, clinical and medical researchers, many with international reputations in their fields. Oncopeptides has developed melflufen (Ygalo®), the first peptidase potentiated cytotoxic therapy intended for use in the treatment of multiple myeloma. Oncopeptides has established collaborative relationships with leading researchers and institutions in Europe and the US, including Harvard Medical School’s Dana Farber Cancer Institute. In June 2019 scientists presented data from two phase I/II studies of its drug, melflufen, at the European Hematology Association in Amsterdam. Oncopeptides listed on the Nasdaq Stockholm in 2017. 

CEO: Nikolaj Sørensen, since 2013

Therapeutic area: Opioid addiction

Nasdaq: ORX

Orexo was founded in 1995 in Uppsala with a vision to fulfill unmet patient needs by developing improved pharmaceutical products. The company’s first product, Diabact® UBT – a breath test for diagnosing the stomach ulcer bacterium Helicobacter pylori – was registered in 2000. Orexo has developed from being an R&D stage company to becoming a profitable pharmaceutical company with commercial business in the US. The company aims to become a leader in the field of opioid addiction. Orexo’s key market is the American market for buprenorphine/naloxone products and the commercialization of Zubsolv®, which is an effective drug for people suffering from opioid addiction. CEO Nikolaj Sørensen reports a positive outlook for 2019, stating that “three of our four internal pipeline projects are ready to progress into the next development phase, our financial position continues to strengthen due to sales growth and our manufacturing efficiency program has had significant positive impact on the gross profit contribution from Zubsolv.”  In 2005 Orexo was listed on the Nasdaq Stockholm.

CEO: Carlos de Sousa, since 2016

Therapeutic area: Cancer

Nasdaq: IMMU

Immunicum, founded in Stockholm in 2002, is a clinical-stage immuno-oncology company whose main focus is developing allogeneic dendritic cell technologies. Immunicum was founded in 2002 based on research originally carried out at Sahlgrenska University Hospital in Gothenburg. Immunicum’s goal is to improve survival outcomes and quality of life by preparing the patient’s immune system to fight cancer. The company’s lead product is ilixadencel, consisting of pro-inflammatory allogeneic dendritic cells. In 2019 Immunicum expects results from the Phase II MERECA renal cancer trial, an important clinical milestone for ilixadencel and the company. This is the company’s first comparative trial and has a total of 88 patients in both Europe and the US. CEO de Sousa quoted that “since ilixadencel can be produced and stored for extended periods, and our data indicates that it might enhance the effect of different classes of I/O-drugs, like checkpoint inhibitors, immune enhancers and other targeted therapies, we see a potential for ilixadencel to become a backbone therapy in several future immunotherapies.” Immunicum listed on the Nasdaq Stockholm in 2013.

CEO: Uli Hacksell, since 2015

Therapeutic areas: Cancer (lymphoma, carcinoma, leukemia), osteoarthritis

Nasdaq: MVIR B

Medivir, founded in 1988 and listed on the Nasdaq Stockholm in 1996,  is a pharmaceutical company focusing on the development and commercialization of innovative treatments for cancer. Its disease areas of focus are cutaneous T-cell lymphoma, basal cell carcinoma, solid tumors, hepatocellular carcinoma, blood cancer (acute myeloid leukemia) and osteoarthritis. Currently in its pipeline are Remetinostat for cutaneous T cell lymphoma, Birinapant for solid tumours, and Miv-711 for osteoarthritis. During its twenty-year history, Medivir has collaborated with Eli Lilly, Wellcome, Abbott, and Janssen. 

CEO: Martin Welschof, since 2018

Therapeutic area: Cancer (non-Hodgkin lymphoma, leukemia)

Nasdaq: BINV

BioInvent, founded in 1997, is a research and development company in the biotechnology field which has created human antibody libraries that can be used in a broad range of applications. BioInvent delivers proteins to drug and biotechnology companies, grants licenses for use of its libraries, and establishes partnerships to develop and manufacture protein based drugs. BioInvent’s main focus is on the discovery and development of immuno-modulatory antibodies to treat cancer, advancing its research through collaborations with large pharmaceutical companies, academic research groups, networks of clinical specialists and research foundations. BioInvent has three products in its clinical pipeline. Its lead program BI-1206 is currently in Phase l/lla for non-Hodgkin lymphoma and chronic lymphatic leukemia, and is a product that represents a substantial commercial opportunity. Additional products in the clinical pipeline include TB-403 in paediatric brain tumours, in collaboration with Oncurious, and THR-317 in diabetic macular edema, under development by Oxurion. BioInvent’s preclinical pipeline includes a collaboration with Pfizer to develop antibodies that act on tumour-associated myeloid cells, as well as antibodies that act on regulatory T cells.

CEO: Ulf Hannelius, since 2015

Therapeutic area: Diabetes

Nasdaq: DMYD B

Diamyd Medical is a Swedish pharmaceutical company focusing on developing targeted treatment for diabetes. Its two principal products are the antigen-specific immunotherapy Diamyd® and the oral regenerative and immunomodulatory therapy Remygen®. Diamyd® and Remygen® target the underlying causes of diabetes in the pancreas and are currently being evaluated in clinical trials. Clinical data indicate the potential of Diamyd® to halt the autoimmune destruction of insulin-producing beta cells. The effect is achieved by reprogramming of immune cells through administration of three low doses of Diamyd® in superficial lymph nodes. Intralymphatic treatment with Diamyd® is now being investigated in a clinical phase II trial. Diamyd Medical is listed on Nasdaq Stockholm First North.

Dina Spencer

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Top 18 largest Swedish Companies in the Biotechnology industry by Market Cap

This is the list of the largest public listed companies in the Biotechnology industry from Sweden by market capitalization with links to their reference stock.

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Top Biotechnology Companies from Sweden as of Jul. 01, 2024

1. camurus ab.

Company Profile: Camurus AB Market Cap (USD): $3.30 B Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

2. BioArctic AB

Company Profile: BioArctic AB Market Cap (USD): $1.84 B Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

3. Calliditas Therapeutics AB

Company Profile: Calliditas Therapeutics AB Market Cap (USD): $1.04 B Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

4. Hansa Biopharma AB

Company Profile: Hansa Biopharma AB Market Cap (USD): $319.2 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

5. Xspray Pharma AB

Company Profile: Xspray Pharma AB Market Cap (USD): $252.9 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

6. BioInvent International AB

Company Profile: BioInvent International AB Market Cap (USD): $214.3 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

7. Vicore Pharma Holding AB

Company Profile: Vicore Pharma Holding AB Market Cap (USD): $201.1 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

8. Genovis AB

Company Profile: Genovis AB Market Cap (USD): $171.5 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

9. Diamyd Medical AB

Company Profile: Diamyd Medical AB Market Cap (USD): $126.1 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

10. Infant Bacterial Therapeutics AB

Company Profile: Infant Bacterial Therapeutics AB Market Cap (USD): $124.4 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

11. Egetis Therapeutics AB

Company Profile: Egetis Therapeutics AB Market Cap (USD): $123.5 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

12. Alligator Bioscience AB

Company Profile: Alligator Bioscience AB Market Cap (USD): $82.0 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

13. Cantargia AB

Company Profile: Cantargia AB Market Cap (USD): $73.5 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

14. Oncopeptides AB

Company Profile: Oncopeptides AB Market Cap (USD): $51.7 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

15. I-Tech AB

Company Profile: I-Tech AB Market Cap (USD): $46.9 M Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

16. Modus Therapeutics Holding AB

Company Profile: Modus Therapeutics Holding AB Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

17. Diagonal Bio AB

Company Profile: Diagonal Bio AB Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

18. Amniotics AB

Company Profile: Amniotics AB Country: Sweden Sector: Swedish Healthcare Industry: Swedish Biotechnology

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