Asgard Therapeutics

What Asgard Therapeutics does

Asgard Therapeutics AB is a Swedish private biotechnology company incorporated in December 2018 as a spin-off from Lund University (with support from LU Holding AB), headquartered at Medicon Village in Lund. The company is developing AT-108, a first-in-class, off-the-shelf gene therapy candidate that uses a replication-deficient adenoviral vector to deliver three proprietary transcription factors that directly reprogram tumor cells into conventional type 1 dendritic cells (cDC1) in situ — a process the company brands as the TrojanDC platform. The intended effect is to convert the patient's own tumor into an antigen-presenting cell, triggering a personalized anti-tumor immune response while bypassing the manufacturing and logistical complexity of autologous cell therapies. The scientific work originated in the labs of co-founders Cristiana Pires, Filipe Pereira, and Fábio Rosa, with key proof-of-concept data published in Science in 2024 and follow-on mechanistic publications in Immunity (2025) and Cell Systems (2026).

The company is pre-revenue and preclinical, with AT-108 as its single lead program targeting solid tumors. AT-108 is being advanced toward IND-readiness by 2026 and Phase 1/2 clinical development, with preclinical data presented at AACR 2026 and ASGCT 2026 showing monotherapy activity and synergy with checkpoint blockade. Asgard's stated business model is to commercialize AT-108 either independently or through licensing, royalty, or co-development agreements with large pharmaceutical partners for global development and commercialization. To date the company has raised approximately €36 million across a €6 million seed round (November 2021, co-led by Novo Holdings) and a €30 million Series A (March 2024, co-led by RV Invest and Johnson & Johnson Innovation – JJDC, with Novo Holdings, Boehringer Ingelheim Venture Fund, and Industrifonden). The current go-to-market emphasis is on scientific publications, conference presentations, and strategic pharma partnering rather than direct sales.

Name

Asgard Therapeutics

Legal name

Asgard Therapeutics AB

Website

https://asgardthx.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Asgard Therapeutics is a Swedish preclinical biotech, spun out of Lund University in 2018, developing AT-108 — a first-in-class, off-the-shelf gene therapy that uses an adenoviral vector to reprogram tumor cells into dendritic cells in situ for solid tumor immunotherapy, targeting licensing deals with pharmaceutical partners.

Ownership category

akta.pro rank

Product category

Cancer Immunotherapy / Gene Therapy

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Dendritic Cell & Other APC-based Therapies (HLAAABAF)

akta.pro secondary industries

Personalized Therapeutic Design (neoantigen vaccines, individualized cell/gene therapies) (HLAAANAK), Therapeutic Vaccines (e.g., Cancer/Chronic Infection) (HLAIAEAG), Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)

Keywords

• Cancer immunotherapy
• Cell reprogramming therapy
• Gene therapy oncology
• Dendritic cell therapy
• Immuno-oncology platform

Headquarters

HQ city

Lund

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations

Revenue model

1. Future therapeutic product sales: As a preclinical-stage biotech company, Asgard Therapeutics is pre-revenue. The company plans to generate revenue through commercialization of its lead program AT-108 (TrojanDC), either independently or through strategic partnerships and licensing agreements with pharmaceutical companies for global development and commercialization.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Asgard Therapeutics is developing AT-108, a first-in-class off-the-shelf gene therapy that uses in vivo direct cell reprogramming to convert tumor cells into conventional type 1 dendritic cells (cDC1) within the patient's body, triggering personalized anti-tumor immune responses. The product is based on a replication-deficient adenoviral vector delivering three proprietary transcription factors, and is designed to overcome the manufacturing and logistical hurdles of conventional cell-based cancer therapies.

Product overview

Asgard Therapeutics is developing AT-108, a first-in-class, off-the-shelf gene therapy product for cancer immunotherapy. The company's approach uses in vivo direct cell reprogramming technology to convert tumor cells into dendritic cells within the patient's body. AT-108 is designed as a single lead program that reprograms tumor cells to present their own antigens, triggering personalized anti-cancer immune responses while maintaining the manufacturing and logistical advantages of an off-the-shelf therapy.

Differentiator

Problem solved

Functional benefit

Products and services

• AT-108 (TrojanDC) AT-108 is a first-in-class, off-the-shelf gene therapy that uses a replication-deficient adenoviral vector to deliver three proprietary transcription factors, directly reprogramming tumor cells in vivo into conventional type 1 dendritic cells (cDC1). This triggers personalized anti-tumor immune responses within the patient's tumor microenvironment, targeting solid tumors and overcoming tumor immune evasion. Intended for cancer patients with solid tumors.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Lund UniversitycoreStrategic or Co-development PartnerAsgard Therapeutics is a spin-out from Lund University, originating from the research labs of co-founders Cristiana Pires, Filipe Pereira, and Fábio Rosa. The company maintains ongoing academic collaborations with Lund University researchers in cell reprogramming and immunology.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Turnstone Biologics: Clinical-stage biotech developing viral vector-delivered immunotherapies that turn 'cold' solid tumors 'hot,' most directly comparable to Asgard's approach of using adenoviral vectors to reprogram the tumor microenvironment for immune activation.
• Achilles Therapeutics: Personalized cancer immunotherapy company developing clonal neoantigen-reactive T cell therapies for solid tumors. Both Asgard and Achilles pursue personalized tumor antigen-driven immune activation in solid tumor indications.
• Adaptimmune Therapeutics: Commercial-stage cell therapy company developing engineered TCR-T cell therapies for solid tumors. Comparable in targeting solid tumor immune evasion with cellular engineering approaches distinct from but adjacent to Asgard's in vivo reprogramming.
• Carisma Therapeutics: Clinical-stage biotech engineering macrophages and other immune cells to treat cancer. Both Asgard and Carisma leverage cell engineering/reprogramming strategies to redirect myeloid lineage cells against solid tumors.
• Fate Therapeutics: Clinical-stage company developing off-the-shelf iPSC-derived cell therapies for cancer immunotherapy. Comparable as a pioneer in off-the-shelf engineered immune cell therapies that avoid autologous manufacturing constraints.
• Tmunity Therapeutics: Clinical-stage biotech developing next-generation engineered T cell therapies for solid tumors. Comparable in pursuing cell-based immunotherapy solutions for solid tumor indications with high unmet need.
• Allogene Therapeutics: Clinical-stage biotech pioneering allogeneic CAR-T cell therapies. Comparable in pursuing off-the-shelf cellular immunotherapies that can be manufactured at scale rather than patient-by-patient.

Broad incumbents

• BioNTech: Commercial-stage mRNA immunotherapy leader with a broad oncology pipeline. As a broad incumbent in personalized cancer immunotherapy, BioNTech is comparable in pursuing patient-specific immune activation strategies but operates at vastly greater scale.
• Moderna: Commercial-stage biotech with a broad mRNA-based cancer immunotherapy pipeline. Comparable as a broad incumbent developing nucleic acid-based immunotherapies that activate patient immune responses against tumors.

Emerging players

• Ziopharm Oncology: Clinical-stage biotech developing non-viral gene therapy and cell therapy approaches for cancer. Comparable in the gene-therapy-driven oncology space, particularly for solid tumors, though at an earlier stage and with different delivery technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/AsgardThx
• LinkedInlinkedin.com/company/asgardthx

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asgard Therapeutics