Enzymatica
Enzymatica AB is a Swedish life science company that develops and sells ColdZyme Mouth Spray, an EU MDR Class III medical device using a patented deep-sea cod enzyme to form a protective barrier against cold and flu viruses, sold through pharmacies and channel partners across roughly 20 countries.
- Company typePublic
- Founded2007
- HeadquartersLund, Sweden
- Headcount11–50
- GTM typeB2C
- OfferingHardware or Manufacturing
What Enzymatica does
Enzymatica AB (publ) is a Swedish life science company founded in 2007 and listed on Nasdaq First North Growth Market under the ticker ENZY, headquartered at Ideon Science Park in Lund with enzyme manufacturing at a wholly-owned facility in Reykjavik, Iceland. The company develops and commercializes ColdZyme Mouth Spray, a Class III medical device under EU MDR that forms a protective moisture barrier in the oral cavity and throat to inactivate viruses and inhibit their spread. The core technology is a patented enzyme from deep-sea cod, combined with plant-based glycerol, acquired through the 2016 purchase of Icelandic firm Zymetech and protected by composition-of-matter patents in the EU (until 2035), USA, Japan, China, and Australia (until 2036). Independent clinical studies published in The Journal of Physiology report ColdZyme reduces virus quantity by over 99% and shortens cold duration by approximately 50% versus placebo.
The business operates a hybrid model. Direct-to-consumer sales run through pharmacy chains in Sweden and select markets (UK via Amazon and Lloyds Pharmacy, plus ~20 additional countries via local distributors), while international growth increasingly relies on channel partners - notably STADA, which markets ColdZyme across Germany, Austria, Denmark, Norway, and Finland, and is set to drive the DACH launch from the 2026-2027 cold/flu season. Enzyme formulation licensing to local finished-product producers is positioned as the next margin lever. Beyond ColdZyme, the company markets a Barrier Technology Platform and pursues elite-sport validation partnerships (UK Sports Institute, GB Snowsport, Swedish Biathlon Federation, Aquatics GB, Unibet Rose Rockets cycling team) to anchor credibility. FY2025 net sales were SEK 53.9 million, up 18.3% YoY, against an operating loss of SEK -51.4 million and operating cash outflow of SEK -41.0 million, funded historically through recurring rights issues including SEK 132 million raised in September 2024. A leadership transition saw Sana Alajmovic appointed CEO in February 2026 and Holger Lembrér appointed CFO in April 2026, both tasked with driving international scale-up.
Enzymatica firmographics
Firmographics- Name
- Enzymatica
- Legal name
- Enzymatica AB (publ)
- Website
- http://www.enzymatica.com/
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Enzymatica AB is a Swedish life science company that develops and sells ColdZyme Mouth Spray, an EU MDR Class III medical device using a patented deep-sea cod enzyme to form a protective barrier against cold and flu viruses, sold through pharmacies and channel partners across roughly 20 countries.
- Ownership category
- akta.pro rank
Enzymatica industry classification
Industry- Product category
- OTC Medical Devices
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414)
- SIC
- Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Nasal Drug Delivery Devices (Sprays/Powder Devices) (HLAHAIAK)
Keywords
Where Enzymatica is headquartered
LocationHeadquarters
- HQ city
- Lund
- HQ country
- Sweden
- HQ region
- Europe
Offices2 records
Markets served
Enzymatica business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Marketing or Sales, Technology or R&D, Supply Chain, Personnel, Operations
Revenue model
- ColdZyme Product Sales: Sales of ColdZyme mouth spray consumer products through pharmacies, health stores, and e-commerce platforms in Sweden, UK, and other markets. Revenue grew 18.3% in 2025 to SEK 53.9 million.
- Enzyme Formulation Licensing: Enzymatica is transitioning to become a supplier of enzyme formulations to partners who produce finished products locally. This model offers higher EBIT margins while maintaining control over core technology through patents.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Enzymatica product offering
Product offeringCore offering
Enzymatica develops and sells ColdZyme Mouth Spray, a Class III medical device that creates a protective moisture barrier in the oral cavity and throat to inactivate cold and flu viruses. The product is based on a proprietary enzyme formulation derived from deep-sea cod (trypsin) combined with plant-based glycerol, addressing the root cause of upper respiratory infections rather than only symptoms.
Product overview
Enzymatica is a Lund-headquartered Swedish biotech company that develops solutions supporting the body's own defenses against virus, irritants and microorganisms. The company offers a unified product portfolio centered on ColdZyme Mouth Spray—a medical device that forms a protective barrier against cold and flu viruses. The core ColdZyme product is supported by Enzymatica's Barrier Technology Platform, which houses the proprietary enzyme formulation. The company has expanded the product line with new flavor variants including Eucalyptus (launched October 2025) and previously Strawberry. ColdZyme is classified as a Class III medical device under EU MDR regulations and is distributed through pharmacy and health retail channels, with strategic partnerships for international expansion including STADA for Germany and Austria.
Differentiator
Problem solved
Functional benefit
Brands
- ColdZyme: Main product brand - a mouth spray that protects against viruses in the upper respiratory tract causing colds and flu-like symptoms. Forms a protective moisture barrier on the mucous membrane in the oral cavity and throat, inactivating viruses and inhibiting their ability to spread and multiply.
- ColdZyme Mouth Spray
- ColdZyme Eucalyptus
- ColdZyme One Cold
Products and services
- ColdZyme Mouth Spray A medical device mouth spray that creates a protective moisture barrier on the mucosa of the mouth and throat to inactivate viruses (including cold, flu, and Omicron variants) and inhibit their ability to spread and multiply. ColdZyme addresses the root cause of colds and is sold through pharmacies, health stores, and e-commerce platforms for individual consumers.
- ColdZyme Eucalyptus Flavor An alternative eucalyptus-flavored variant of the ColdZyme Mouth Spray medical device offering the same protective enzymatic barrier against upper respiratory viruses. Launched in Sweden in October 2025.
Quantifiable outcome
- Reduces cold duration by approximately 50% compared to placebo in elite athletes
- +4 more outcomes
Companies that use Enzymatica
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles2 records
Enzymatica technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Enzymatica partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- Unibet Rose Rockets (Team d'Amico)minorEnzymatica partnered with the Unibet Rose Rockets cycling team to include ColdZyme in the Giro d'Italia race routine.
- STADAcoreEnzymatica and STADA signed a partnership agreement to launch and distribute ColdZyme in Germany and Austria. The collaboration combines Enzymatica's medical device with STADA's commercial platform, focusing on marketing ColdZyme under STADA's brands. Full commercial impact anticipated from 2026-2027 cold and flu season, with progressive realization expected from 2027.
- UK Sports InstitutecoreColdZyme has entered a partnership with the UK Sports Institute to support athlete health and performance, supplying ColdZyme for UKSI's athlete health initiatives. The collaboration aims to reduce illness-related disruptions among Olympic and Paralympic athletes during training and competitions. This initiative is expected to be sustained over multiple years.
- Swedish Biathlon FederationminorEnzymatica became official supplier to the Swedish Biathlon Federation, providing ColdZyme for athlete health support.
- GB SnowsportminorEnzymatica announced partnership with GB Snowsport to strengthen presence in elite winter sports and support British athletes.
- Aquatics GBminorPartnership with UK Sports Institute/Aquatics GB to supply ColdZyme for athlete protection during training and competitions.
- ZymetechcoreIn 2016, Enzymatica acquired the Icelandic company Zymetech, gaining exclusive global rights to the patented enzyme from deep-sea cod. The acquisition gave Enzymatica control over enzyme manufacturing, access to international R&D expertise, and Zymetech's research portfolio.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Enzymatica competitors and assessment
Company assessmentDirect peers
- Betadine (Mundipharma): Povidone-iodine based antiseptic brand including throat spray for sore throats and infections. Comparable as a throat spray medical device positioned in the same cold/sore throat category with similar pharmacy distribution.
- Vicks (Procter & Gamble): Iconic OTC cold/cough brand (Vicks VapoRub, NyQuil, DayQuil) with global distribution. Comparable as a direct competitor in the consumer cold remedy category where Enzymatica competes for pharmacy shelf space and consumer share of throat/nasal care.
- Cold-EEZE (ProPhase Labs): Zinc-based cold remedy lozenges/sprays marketed for cold duration reduction. Comparable as a directly competitive mechanism-based OTC cold remedy targeting similar efficacy claims.
- Strepsils (Reckitt Benckiser): Leading global throat lozenge/spray brand for sore throats and colds. Comparable as direct competitor in OTC throat and cold symptom relief sold through the same pharmacy channels.
- Zicam (Church & Dwight / Matrixx Initiatives): OTC cold remedy brand built on zinc-based mechanism, sold as nasal swabs and oral products. Comparable as a mechanism-driven cold remedy (similar to ColdZyme's barrier approach) competing for the same 'root cause' positioning in cold care.
Broad incumbents
- STADA Arzneimittel AG: Major European consumer health and generics company that is Enzymatica's distribution partner for Germany, Austria, Denmark, Norway, and Finland. Comparable as a leading OTC and consumer healthcare platform across Europe with broad respiratory/cold product portfolio.
- GSK Consumer Healthcare: Global consumer health leader with major respiratory brands (Throaties, Coldrex, Otrivin nasal). Comparable as a broad incumbent with deep OTC respiratory/throat franchise and pharmacy relationships.
- Reckitt Benckiser: Global consumer health giant (Strepsils, Nurofen, Mucinex, Durex) with extensive OTC respiratory portfolio. Comparable as a broad incumbent competing across Enzymatica's category with substantially larger marketing and distribution resources.
- Sanofi Consumer Healthcare: Global consumer health company already distributing ColdZyme under Aderogyl and Bisolviral brands in Mexico and Turkey. Comparable as a broad OTC player with overlapping respiratory/cold portfolio and distribution scale.
Emerging players
- Halozyme Therapeutics: Biotech that licenses its proprietary enzyme-based drug delivery platform (ENHANZE) to multiple partners. Comparable as a business-model peer pursuing an enzyme-platform licensing strategy in healthcare, mirroring Enzymatica's planned transition to enzyme formulation licensing.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Enzymatica social profiles
Digital presenceEnzymatica compliance and trust
Trust signalCompliance2 records
Enzymatica financial estimates
Financial estimateRevenue estimate
Valuation estimate
Enzymatica leadership team
Management profileNumber of profiles
Profiles4 records
Enzymatica subsidiaries and ownership
Company hierarchySubsidiaries1 record
Enzymatica funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Enzymatica M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Enzymatica
What does Enzymatica do?
Enzymatica develops and sells ColdZyme Mouth Spray, a Class III medical device that creates a protective moisture barrier in the oral cavity and throat to inactivate cold and flu viruses. The product is based on a proprietary enzyme formulation derived from deep-sea cod (trypsin) combined with plant-based glycerol, addressing the root cause of upper respiratory infections rather than only symptoms.
Is Enzymatica a public or private company?
Enzymatica is a public company. It is classified as public and is currently operating.
When was Enzymatica founded?
Enzymatica was founded in 2007. It employs 11 to 50 people.
Where is Enzymatica based?
Enzymatica is headquartered in Lund, Sweden, in the Europe region.
How does Enzymatica make money?
Two revenue lines are on record. ColdZyme Product Sales are the primary driver. The others are enzyme Formulation Licensing.
Who are Enzymatica's main competitors?
Direct peers on record are Betadine (Mundipharma), Vicks (Procter & Gamble), Cold-EEZE (ProPhase Labs), Strepsils (Reckitt Benckiser) and Zicam (Church & Dwight / Matrixx Initiatives). Broad incumbents are STADA Arzneimittel AG, GSK Consumer Healthcare, Reckitt Benckiser and Sanofi Consumer Healthcare. Halozyme Therapeutics is listed as an emerging player.
Does Enzymatica have an API?
No public API is recorded for Enzymatica.
What industry is Enzymatica in?
Enzymatica's product category is OTC Medical Devices. Its primary akta.pro industry code is HLAHAIAK, Nasal Drug Delivery Devices (Sprays/Powder Devices). Its NAICS code is 325414 and its SIC code is 2836.