SME Instrument celebrates its first IPO on the main stock market! Immunovia starts floating on Nasdaq

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In 2014, Immunovia AB, a Swedish health company from Lund, received an SME Instrument Phase 2 grant for a project on early diagnosis of pancreatic cancer. In 2015 after doubling its staff, the company made it's entry on Nasdaq First North in Stockholm. We are now proud to announce that the company has been accepted for trading on Nasdaq's main list with a company value of nearly € 214 million and 40 employees. Immunovia rang the bell from Stockholm on 3 April 2018.

Immunovia has developed a new method for using a blood test to detect and diagnose pancreatic cancer. With Immunovia’s test, diagnosis can be made earlier which creates much better chances to treat the cancer. Thanks to the € 4.2 million in EU-funding, and the new capital injection from share issues, the company will be able to commercialise it. The test will be a world premiere in pancreatic cancer diagnostics. Diagnosing patients in early stages could increase the overall 5-year survival rate from 3-4 % to approximately 59 %. Once the test is perfected and prompted on the market, the company will continue to develop similar tests for other cancers and for the autoimmune disease lupus (SLE).

Before the introduction on First North, Immunovia carried out a promising share issue that was oversubscribed five times. The share issue period ended on 16 November 2015 and provided the company with SEK 60 million before issue costs and about 1 100 new shareholders, including many existing, new and international investors.

Background

Immunovia AB was founded in 2007 by scientists from the Department of Immunotechnology at Lund University and CREATE Health – the Strategic Centre for Translational Cancer Research in Lund, Sweden. Immunovia's core business is to decode a large amount of information in the blood and translates it into clinically useful tools to diagnose complex diseases such as cancer and to do this earlier and more accurately than previously possible. Immunovia’s core technology platform, IMMray™, is based on antibody microarray analysis. The company now performs clinical validation studies for commercialization of IMMray™ PanCan-d, which has the potential to become the first blood-based test for early diagnosis of cancer of the pancreas.

The company received funding from the Horizon 2020 SME Instrument in December 2014. The SME Instrument funds small and medium-sized enterprises with a demonstrated potential for excellence to fill the market gap that prevents these golden nuggets from accessing the market.

The SME Instrument has seen already 7 other IPOs all on Nasdaq First North.

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