What Scandinavian Biopharma does

Scandinavian Biopharma is a privately held Swedish research-based specialty biopharma company headquartered in Solna (Stockholm), operating two complementary business lines. The first is proprietary vaccine development centered on ETVAX®, the world's first oral whole-cell inactivated vaccine candidate against enterotoxigenic Escherichia coli (ETEC) diarrhea, currently Phase 3-ready following successful Phase 2b results published in The Lancet Infectious Diseases. ETVAX combines four inactivated E. coli strains expressing colonization factors CFA/I, CS3, CS5, CS6 (covering ~80% of global clinical isolates) with a recombinant LCTBA hybrid protein and the dmLT adjuvant; in the Phase 2b OES-128 trial in 4,936 Gambian children aged 6–18 months, vaccine efficacy reached 67.8% when dosing began before nine months of age, with 75–85% of subjects developing immune responses to all vaccine components.

The second business line is a Nordic specialty distribution franchise generating the bulk of current revenue, distributing registered vaccines (e.g., Vivotif® for typhoid, diTekiBooster for tick-borne encephalitis, polio vaccines, Td-RIX tetanus-diphtheria booster), immunoglobulins and coagulation factors (e.g., Coagadex®, Grafalon®), insect repellents and insecticide-treated mosquito nets (Care Plus®), specialized infant formula (Nutramigen), unlicensed medicines via special import permits, and a diagnostic rapid test (PerioPruv™). Distribution combines direct field sales to Nordic hospitals and pharmacies with a logistics partnership through Tamro and a proprietary e-commerce ordering platform.

Revenue model combines B2B distribution (transaction-based sales of in-licensed and distributed products), government/institutional procurement (Nordic public tender awards), non-dilutive grant funding for clinical development (EDCTP, EU Horizon 2020, USAMRAA, Vinnova, PATH), and future licensing/royalty revenue contingent on ETVAX regulatory approval. The customer base spans Nordic healthcare providers, international travelers (~65 million annually to endemic regions) for the eventual commercial vaccine, and pediatric populations in low- and middle-income countries targeted via global health channels. FY2024 revenue was 161 MSEK (~15.5M USD), up from 154 MSEK in FY2023 (+27% organic), 121 MSEK in FY2022 (+30%), with strategic partners including PATH, the University of Gothenburg, and US military medical research organizations.

Name

Scandinavian Biopharma

Legal name

Scandinavian Biopharma Holding AB

Website

https://scandinavianbiopharma.se

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Scandinavian Biopharma is a Swedish biotech developing ETVAX®, the world's first oral ETEC diarrhea vaccine now in Phase 3, while distributing specialty biopharma products including vaccines, immunoglobulins, and coagulation factors across the Nordic region.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

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

akta.pro primary industry

Vaccine Clinical Development & Regulatory Affairs (HLAIAEAM)

akta.pro secondary industries

Infectious Disease & Pandemic Preparedness Vaccines (emerging pathogens) (HLAAAEAC), Travel & Tropical Disease Vaccines (HLAIAEAE), Immunization & Vaccine Delivery Programs (BPADAIAB), Health, Pharmaceuticals & Medical Devices Regulatory Cooperation (BPADANAJ), Biologics & Vaccine Regulators (HLAJADAB)

Keywords

• Vaccine development
• Biopharmaceutical distribution
• Travelers diarrhea
• ETEC vaccine
• Specialty pharmaceuticals

Headquarters

HQ city

Solna

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, Supply Chain, Marketing or Sales

Revenue model

1. Distribution of Specialty Biopharma Products: Scandinavian Biopharma distributes a wide range of specialty biopharma products including vaccines, immunoglobulins, coagulation factors, unlicensed medicines, and other health products across the Nordic market. This is the primary revenue driver, having achieved record sales in 2024. The distribution business has grown from 1.8 MSEK (2011) to 24.1 MSEK (2013) and continues to expand with new product launches.
2. Vaccine Development (ETVAX): The company invests in R&D for its proprietary oral ETEC vaccine (ETVAX), which is in late-stage clinical development (Phase IIb completed, Phase III in preparation). Revenue from this stream will materialize upon regulatory approval and commercialization. Development is supported by non-dilutive funding from EDCTP, EU Horizon 2020, USAMRAA, Vinnova, and PATH.
3. In-licensing and Distribution Agreements: Scandinavian Biopharma enters into commercial partnerships to distribute third-party biopharma products in the Nordic region. This includes marketing and distribution agreements with companies such as Neovii (Grafalon), Reckitt (Nutramigen), Emergent (Ty21a oral typhoid vaccine), Novavax, ViperaTAb, Coagadex, and others. Revenue is generated through product sales under these distribution arrangements.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Scandinavian Biopharma is a Swedish research-based biopharma company operating two complementary lines: (1) proprietary development of ETVAX®, the world's first oral whole-cell inactivated vaccine candidate against enterotoxigenic E. coli (ETEC), targeting both international travellers and children in endemic regions, currently in late-stage clinical development; and (2) distribution of a broad specialty biopharma portfolio across the Nordic region, including registered vaccines, immunoglobulins, coagulation factors, and unlicensed pharmaceutical products under a special import permit.

Product overview

Scandinavian Biopharma is a research-based specialty biopharma company operating two complementary business lines. The first is a proprietary vaccine development programme centred on ETVAX®, the world's first oral inactivated multivalent ETEC vaccine candidate in late-stage clinical development (Phase 2b completed, Phase 3-ready), targeting both travellers to endemic regions and young children in low- and middle-income countries. The second is a distribution business that markets and sells a broad portfolio of specialty biopharma products across the Nordic region, encompassing registered vaccines (e.g., Vivotif®, diTekiBooster, polio vaccines, Td-RIX), immunoglobulins and coagulation factors (e.g., Coagadex®, Grafalon®), Care Plus® insect repellent and mosquito net products, and unlicensed pharmaceuticals. The company also distributed PerioPruv™, a dental rapid diagnostic test.

Differentiator

Problem solved

Functional benefit

Brands

• ETVAX: Lead oral vaccine candidate against enterotoxigenic E. coli (ETEC) diarrhea
• Care Plus

Products and services

• ETVAX®

Quantifiable outcome

• ETVAX demonstrated 67.8% vaccine efficacy for the primary endpoint when dosing began before nine months of age in Phase 2b trial (OES-128) in 4,936 Gambian children aged 6-18 months
• +6 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• PATH (Program for Appropriate Technology in Health)coreStrategic or Co-development PartnerPATH, an international global health nonprofit organization, has been a key strategic partner since 2013. PATH supports the ETVAX development project by providing expertise, know-how, and financial resources. The collaboration involves joint development of the oral ETEC vaccine and has included collaborative development agreements and PATH Vaccine Solutions partnership. PATH's support has been instrumental in advancing clinical trials in Bangladesh, Zambia, and The Gambia.
• Göteborgs Universitet (University of Gothenburg)coreStrategic or Co-development PartnerThe University of Gothenburg, specifically its vaccine research institute, is a core research partner in the development of ETVAX. Clinical trials are conducted in partnership with researchers at the university, and key scientific publications on the vaccine have been authored by university researchers. The collaboration includes world-renowned ETEC researcher Jan Holmgren who has received the world's largest prize in global health through this partnership.
• NeoviiminorChannel Partner/ Reseller/ DistributorScandinavian Biopharma and Neovii extended and deepened their collaboration for the transplantation product Grafalon. Scandinavian Biopharma serves as the Nordic distributor for Neovii's immunosuppressant product used in organ transplantation.
• Reckitt (Nutramigen)minorChannel Partner/ Reseller/ DistributorReckitt appointed Scandinavian Biopharma as the distributor for the Nutramigen product range (specialized infant formula) in the Nordic countries, expanding the company's product portfolio in the healthcare segment.
• Emergent BioSolutionsminorChannel Partner/ Reseller/ DistributorScandinavian Biopharma entered into a marketing and distribution agreement with Emergent to relaunch the oral typhoid vaccine (Ty21a, marketed as Vivotif) in Germany, expanding distribution operations beyond the Nordic region.
• NovavaxminorChannel Partner/ Reseller/ DistributorScandinavian Biopharma entered into a commercial collaboration with Novavax in Sweden for the distribution of Novavax's vaccine products in the Swedish market.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Indian Immunologicals: Indian vaccine manufacturer producing vaccines for both human and animal health, with significant LMIC distribution. Comparable as an emerging vaccine player focused on affordable vaccines for developing country markets.
• Bharat Biotech: Indian vaccine manufacturer with strong global health orientation, developing vaccines for LMIC markets including rotavirus and typhoid. Comparable as an emerging player with a global health focus and growing international presence.
• Eveliqure Biotechnologies: Austrian biotech developing vaccines against enteric infections including ETEC. Directly comparable as a smaller, emerging player focused on the same ETEC indication, representing direct competitive overlap with ETVAX.

Broad incumbents

• GSK (Vaccines): One of the world's largest vaccine manufacturers with extensive travel and infectious disease portfolios. Comparable as a broad incumbent competing in similar vaccine categories with significantly greater resources.
• Sanofi Pasteur: Vaccine division of global pharmaceutical major with the broadest travel vaccine portfolio and global manufacturing/distribution infrastructure. Comparable as a broad incumbent with overlapping vaccine categories and substantial R&D capabilities.
• Takeda (Vaccines Business Unit): Global vaccine major with travel vaccines (Ixiaro JE vaccine) and a significant vaccine pipeline. Comparable as an established vaccine company with overlapping travel vaccine offerings and global commercialization capabilities.
• Emergent BioSolutions: Larger US-based specialty vaccine and biologics company with travel vaccines including Vivotif (typhoid) — a product Scandinavian Biopharma distributes in Germany. Comparable in the travel/specialty vaccine category with broader portfolio.

Direct peers

• Valneva: European specialty vaccine company focused exclusively on travel vaccines (IXIARO, DUKORAL, VLA2001). Directly comparable as a travel vaccine pure-play with a similar target customer segment and specialty distribution model.
• Bavarian Nordic: Nordic (Danish) specialty vaccine company with travel and infectious disease franchises. Highly comparable as a similarly-sized Nordic biotech focused on specialty vaccines, with established global distribution capabilities.
• MSD Wellcome Trust Hilleman Laboratories: Nonprofit vaccine developer focused on affordable vaccines for global health, including ETEC vaccine candidates targeting LMIC populations. Most directly comparable as a competing ETEC vaccine developer with similar global-health mission.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/sthlmscicity

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Scandinavian Biopharma