What Nykode does

Nykode Therapeutics ASA is a clinical-stage biopharmaceutical company headquartered in Oslo, Norway (with an additional office in Lyngby, Denmark), founded in 2007 and publicly listed on the Oslo Stock Exchange under the ticker NYKD and on OTC Markets as VACBF. The company is built around its proprietary Vaccibody immunotherapy platform, a modular molecule technology designed to induce fast, strong, and long-lasting immune responses with a positive safety profile, and which the company states can be tailored via hyper-targeting for applications in cancer, infectious diseases, and autoimmune conditions.

The company's pipeline is currently concentrated in HPV16-positive oncology. Lead asset VB10.16 is an off-the-shelf therapeutic cancer vaccine being advanced in combination with Roche's atezolizumab for advanced cervical cancer under a strategic collaboration with Roche (expanded June 2023). The second lead candidate, abi-suva, is in the Abili-T Phase II randomized trial for HPV16-positive PD-L1-positive recurrent or metastatic head and neck cancer (first patient dosed May 2026), and reported a 38.5% objective response rate versus 19% for standard of care in interim C-03 trial data, with 100% immune response observed in certain dose cohorts. The company also publicly presented AI-Powered Immunotherapy Design capabilities at BioPharma Drug Discovery Nexus 2026, indicating an emerging AI/design layer on the platform.

Nykode operates a partnership-driven, pre-commercial business model. It is pre-revenue from product sales and historically generated income via licensing and collaboration agreements with major pharmaceutical partners; Q4 2025 revenue was $0 after the cancellation of Genentech and Regeneron agreements (versus $6.8M in Q4 2024). Q4 2025 net loss was $8M and operating expenses were $8.1M (down from $12.9M in Q4 2024), with a $60.3M cash position at year-end 2025 supporting stated runway into 2028. The company has 101-250 employees and engages primarily through enterprise-style co-development partnerships rather than a commercial sales motion.

Name

Nykode

Legal name

Nykode Therapeutics ASA

Website

https://vaccibody.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Nykode Therapeutics is a clinical-stage biopharmaceutical company developing modular Vaccibody immunotherapy vaccines, primarily for HPV16-positive cancers (cervical and head and neck), and monetizing its pipeline through pharmaceutical co-development partnerships with companies such as Roche.

Ownership category

akta.pro rank

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Partnership and Collaboration Revenue: Pre-revenue clinical stage company currently generating minimal to no product revenue. Historically generated $6.8M in Q4 2024 from partnership agreements, but Q4 2025 showed zero revenue due to cancelled Genentech and Regeneron agreements. Future revenue dependent on successful clinical development and potential partnership milestones or product commercialization.

Go-to-market motion1 record

Marketing channels4 records

Core offering

Nykode Therapeutics develops immunotherapies based on its proprietary Vaccibody platform, a modular molecule technology designed to induce fast, strong, and long-lasting immune responses. Its lead candidates include VB10.16, an off-the-shelf therapeutic cancer vaccine being co-developed with Roche for advanced cervical cancer, and abi-suva (VB-C-03), an experimental immunotherapy for HPV16-positive head and neck cancer currently in the Abili-T Phase II trial.

Product overview

Nykode Therapeutics is a clinical-stage biotechnology company developing immunotherapies based on its Vaccibody™ platform. The platform is a modular immunotherapy technology designed to induce fast, strong, and long-lasting immune responses. The company's product portfolio includes VB10.16, an off-the-shelf therapeutic cancer vaccine being developed in collaboration with Roche, and abi-suva, an experimental immunotherapy candidate for HPV16-positive cancers undergoing clinical evaluation in the Abili-T Phase II trial and VB-C-03 trial. The Vaccibody platform serves as the core technology underlying these therapeutic candidates, enabling tailored hyper-targeting approaches for oncology and infectious disease applications.

Differentiator

Problem solved

Functional benefit

Brands

• Vaccibody: The Nykode Therapeutics platform is built around the Vaccibody molecule, inducing fast, strong and long-lasting immune responses for immunotherapy treatments

Products and services

• Vaccibody Immunotherapy Platform

Quantifiable outcome

• 38.5% objective response rate for abi-suva in first-line head and neck cancer vs 19% for standard of care
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Roche Holding AGcoreStrategic or Co-development Partner · 1 June 2023In June 2023, Norway-based Nykode Therapeutics expanded collaboration with Swiss healthcare company Roche to advance VB10.16, an off-the-shelf therapeutic cancer vaccine, in combination with Roche's atezolizumab for patients with advanced cervical cancer. This is a significant strategic partnership for clinical development and potential commercialization.
• GenentechminorStrategic or Co-development PartnerPartnership agreement that was subsequently cancelled, reducing Q4 2025 revenue to zero from previous levels.
• RegeneronminorStrategic or Co-development PartnerPartnership agreement that was subsequently cancelled, contributing to reduced revenue in Q4 2025.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Achilles Therapeutics: Achilles Therapeutics develops personalized cancer immunotherapies based on patient-specific tumor neoantigens using T-cell therapies. Comparable to Nykode as a clinical-stage personalized cancer immunotherapy company targeting solid tumors with patient-specific approaches.
• Gritstone bio: Gritstone bio develops personalized neoantigen cancer vaccines (GRANITE, SLATE programs) using viral vectors and self-amplifying RNA. Highly comparable to Nykode in clinical-stage personalized cancer immunotherapy targeting solid tumors.
• Nouscom: Nouscom is a clinical-stage biotech developing off-the-shelf and personalized neoantigen cancer vaccines using viral vector platforms. Closely comparable to Nykode's Vaccibody platform in terms of stage, modality (viral vector-based immunotherapies), and oncology focus.
• Immatics: Immatics develops TCR-based immunotherapies and adoptive cell therapies targeting tumor-specific antigens, including ACTengine and TCER programs. Comparable to Nykode as a clinical-stage European immunotherapy company focused on cancer vaccines and cellular approaches.
• Moderna: Moderna operates an mRNA therapeutics platform with active personalized cancer vaccine programs (e.g., mRNA-4157 with Merck). Comparable to Nykode as a platform-based therapeutic vaccine company targeting oncology, with similar partnership-driven business model.
• CureVac: CureVac develops mRNA-based cancer vaccines and protein-based therapeutics. Comparable to Nykode as a clinical-stage European biotechnology company focused on therapeutic cancer vaccines with a platform-based approach.
• BioNTech: BioNTech is a clinical-to-commercial mRNA-based immunotherapies company developing personalized cancer vaccines (e.g., BNT122/Autogene cevumeran) with Roche. Direct comparable to Nykode's Vaccibody platform in therapeutic cancer vaccines, especially in HPV-induced and personalized neoantigen indications.

Broad incumbents

• Merck & Co. (MSD): Merck is a global pharmaceutical leader with Keytruda (pembrolizumab) as the dominant PD-1/PD-L1 immunotherapy, often used in combination with therapeutic cancer vaccines including Moderna's mRNA-4157. Comparable as a likely combination partner and acquirer of clinical-stage cancer vaccine assets like Nykode's pipeline.
• Bristol-Myers Squibb: Bristol-Myers Squibb is a major immuno-oncology player with Opdivo (nivolumab) and Yervoy (ipilimumab). Comparable as a broad incumbent with overlapping combination immunotherapy interests relevant to Nykode's checkpoint inhibitor combination strategy.

Emerging players

• Hookipa Pharma: Hookipa Pharma develops arenavirus-based immunotherapies for cancer and infectious diseases. Comparable to Nykode as a clinical-stage platform-based immunotherapy company, though using a distinct viral vector technology for antigen delivery.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Customer concentration

• LinkedInlinkedin.com/company/nykode

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors2 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 Nykode