Immedica

What Immedica does

Immedica Pharma AB is a Stockholm-headquartered, privately held pharmaceutical company founded in 2018 that commercializes medicines for rare diseases and specialty care across more than 50 countries via wholly-owned subsidiaries in Europe, the Middle East and North Africa, and, since September 2024, a U.S. commercial hub in Chicago. The company is jointly owned by KKR-managed investment funds and Nordic healthcare investor Impilo AB following a September 2024 acquisition financed in part by a €320 million Hayfin-co-led single-asset continuation fund, and is led by CEO Anders Edvell with a senior team drawn heavily from Sobi/Swedish Orphan Biovitrum and other large-pharma rare-disease organizations.

The commercial portfolio is organized into four core therapeutic areas (RARE Metabolic, RARE Hematology & Oncology, RARE Neurology, RARE Endocrinology) plus Specialty Care and is assembled through a mix of proprietary biologics, in-licensing and acquisitions rather than in-house drug discovery. Flagship proprietary/lead assets include Loargys (pegzilarginase), the first and only disease-modifying treatment for Arginase 1 Deficiency with FDA accelerated approval in February 2026 and EU marketing authorization since December 2023; Ztalmy (ganaxolone), the first FDA-approved treatment for seizures associated with CDKL5 deficiency disorder, acquired via the $151 million Marinus Pharmaceuticals takeover in January 2025; Zepzelca (lurbinectedin) for small cell lung cancer; and Efmody and Alkindi (modified-release and oral-granule hydrocortisone) for adrenal insufficiency and congenital adrenal hyperplasia, acquired via the $65 million Neurocrine/Diurnal deal in January 2026. Supporting products include Ravicti, Ammonaps and Orphacol for urea cycle disorders, Neofordex, Akynzeo, Aloxi and Yondelis, alongside a CE-marked in vitro diagnostic (Nor-NOHA Blood Collection Tubes) that anchors ARG1-D diagnosis.

Immedica generates revenue primarily through direct commercialization of proprietary and in-licensed pharmaceutical products, supplemented by royalty streams (notably a $7 million ganaxolone royalty buy-back from Ovid Therapeutics in June 2025) and exclusive distribution agreements with regional partners such as PharmaMar (Zepzelca), OrphanPacific (Ravicti in Japan), Innovative Medicines Group (Loargys in Latin America) and WinHealth (China). Pricing is not publicly disclosed and is negotiated country-by-country with national reimbursement authorities (G-BA in Germany, NICE in the UK, MENA regulators), with U.S. distribution for Loargys routed through specialty pharmacy partner Orsini. Since 2018, Immedica has executed 16 strategic transactions, scaled from 7 to more than 140 employees, and reported FY2023 net sales of SEK 905 million (~USD 85 million) at a 66% gross margin, with annual revenue growth cited above 50% at the time of the 2024 KKR acquisition.

Name

Immedica

Legal name

Immedica Pharma AB

Website

https://immedica.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Immedica is a Stockholm-based, KKR/Impilo-owned pharmaceutical company that commercializes proprietary, in-licensed and acquired medicines for rare diseases and specialty care across 50+ countries in Europe, MENA, the U.S. and Asia.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals (Rare Disease)

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Medical and Diagnostic Laboratories (62151), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Pharmaceutical Preparations (2834), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Specialty Injectable & Infusion Therapies (Cross-therapeutic) (HLAIACAO)

akta.pro secondary industries

Specialty Care Pharmaceuticals (HLAIAAAB), Immunoglobulins & Passive Immunization Biologics (IVIG, hyperimmune globulins, antitoxins) (HLAAAEAH)

Keywords

• Rare disease pharmaceuticals
• Specialty care commercialization
• Orphan drug distribution
• In-licensed biologics
• Metabolic disorder therapeutics

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices13 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Pharmaceutical Product Sales (Commercialization): Immedica generates revenue through the commercialization and direct sales of proprietary and in-licensed rare disease and specialty care pharmaceutical products across more than 50 countries, including Loargys, Ztalmy, Efmody, Alkindi, Ravicti, Zepzelca, Ammonaps, Orphacol, Akynzeo, Aloxi, Neofordex and Yondelis.
2. Royalty Acquisitions / Royalty Income: Immedica purchased future ganaxolone royalty rights from Ovid Therapeutics for $7M, allowing it to capture royalty streams on Ztalmy revenues.
3. In-licensing & Distribution Agreements: Immedica earns revenue through in-licensing and exclusive distribution deals where it commercializes third-party products in its geographies (e.g., Zepzelca partnership with PharmaMar, Ravicti in Japan with OrphanPacific, Loargys in Latin America with Innovative Medicines Group).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Core offering

Immedica commercializes proprietary, in-licensed, and acquired pharmaceutical products for rare diseases and specialty care across more than 50 countries in Europe, MENA, and the U.S. Its portfolio spans four therapeutic areas (RARE Metabolic, RARE Hematology & Oncology, RARE Neurology, RARE Endocrinology) plus Specialty Care, marketed under brands such as Loargys, Ztalmy, Efmody, Alkindi, Zepzelca, Ravicti, Ammonaps, Orphacol, Yondelis, Akynzeo, Aloxi, and Neofordex. It also supplies the Nor-NOHA Blood Collection Tubes in vitro diagnostic device supporting Arginase 1 Deficiency diagnosis.

Product overview

Immedica is a Stockholm-headquartered pharmaceutical company focused on the commercialization of medicines for rare diseases and specialty care, supplying patients in more than 50 countries via its own commercial platforms in Europe, MENA, and the U.S. The portfolio is organized around four core therapeutic areas (RARE Metabolic, RARE Hematology & Oncology, RARE Neurology, RARE Endocrinology) plus Specialty Care, and is built through a mix of proprietary, in-licensed, and acquired products rather than a single integrated software platform. Proprietary/lead rare disease assets include Loargys® (pegzilarginase) for Arginase 1 Deficiency, Ztalmy® (ganaxolone) for CDKL5 deficiency disorder, Efmody® (modified-release hydrocortisone) and Alkindi® for adrenal insufficiency/CAH, and Zepzelca® (lurbinectedin) for small cell lung cancer. Supporting/in-licensed products include Ravicti®, Ammonaps®, Orphacol®, Neofordex®, Akynzeo®, Aloxi®, and Yondelis®, complemented by the Nor-NOHA Blood Collection Tubes in vitro diagnostic device and a Specialty Care ophthalmology portfolio. Together these products form a multi-asset rare disease and specialty care franchise rather than a unified single-product offering.

Differentiator

Problem solved

Functional benefit

Products and services

• Loargys (pegzilarginase)
• Ztalmy (ganaxolone)
• Efmody (modified-release hydrocortisone)
• Alkindi (hydrocortisone oral granules)
• Zepzelca (lurbinectedin)
• Ravicti (glycerol phenylbutyrate)
• Ammonaps (sodium phenylbutyrate)
• Orphacol (cholic acid)
• Yondelis (trabectedin)
• Akynzeo (netupitant and palonosetron)
• Aloxi (palonosetron)
• Neofordex (high-dose dexamethasone)
• Nor-NOHA Blood Collection Tubes

Named customers1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and flagship.

• PharmaMarcoreChannel Partner/ Reseller/ Distributor · 27 March 2026Immedica has a partnership with PharmaMar for distribution of Zepzelca (lurbinectedin) in various regions. Immedica holds distribution rights for Zepzelca in the Middle East and North Africa (MENA) and other regions. Zepzelca + atezolizumab received positive CHMP opinion as first-line maintenance therapy for extensive-stage small cell lung cancer.
• OrsinicoreChannel Partner/ Reseller/ Distributor · 9 March 2026Orsini was selected by Immedica Pharma US Inc. as the exclusive specialty pharmacy and hub services partner for LOARGYS (pegzilarginase-nbln), a treatment for hyperargininemia caused by Arginase 1 Deficiency, in the U.S. The partnership involves providing specialty pharmacy, hub, and logistics services to facilitate patient access, including ultra-cold storage at the Columbus, Ohio facility.
• Neurocrine Biosciences (Diurnal Group acquisition)flagshipStrategic or Co-development Partner · 21 January 2026Immedica completed the acquisition of Neurocrine Group Limited and its subsidiaries from Neurocrine Biosciences for USD 65 million in cash on January 21, 2026. The deal includes global rights to Alkindi (hydrocortisone oral granules) and global rights ex-US to Efmody (hydrocortisone modified-release capsules), establishing rare endocrinology as a new therapeutic area for Immedica.
• OrphanPacificcoreStrategic or Co-development Partner · 22 December 2025Immedica and OrphanPacific jointly announced approval of Ravicti (glycerol phenylbutyrate) in Japan for the treatment of urea cycle disorders (UCDs). OrphanPacific serves as Immedica's partner for the Japanese market entry.
• Innovative Medicines GroupcoreChannel Partner/ Reseller/ Distributor · 1 October 2025Immedica and Innovative Medicines Group entered an agreement on Loargys (pegzilarginase) in Latin America. The agreement expands Immedica's reach for Loargys into Latin American markets through IMG's regional distribution capabilities.
• Marinus PharmaceuticalsflagshipStrategic or Co-development Partner · 6 January 2025Immedica acquired Marinus Pharmaceuticals in a $151 million cash tender offer deal at $0.55 per share. The acquisition brings Ztalmy (ganaxolone), the first FDA-approved treatment for seizures associated with CDKL5 deficiency disorder, into Immedica's portfolio, significantly expanding its US market presence with a revenue-generating commercial product.
• WinHealth PharmacoreChannel Partner/ Reseller/ DistributorImmedica has access to the Chinese market through partnership with the Chinese company WinHealth Pharma. Through this partnership, Immedica helps patients with UCD (Urea Cycle Disorder) in China and surrounding regions.
• Various US and European biotech partnerscoreStrategic or Co-development PartnerImmedica has a broad partnering model with US biotech and European companies, executing 16 acquisitions and licensing/distribution agreements since 2018. Their business model is built on partnerships, and they continuously evaluate new business opportunities. They conduct annual partner satisfaction surveys and focus on partnering excellence.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Jazz Pharmaceuticals: Ireland-headquartered specialty pharmaceutical company focused on rare neurological conditions (epilepsy, narcolepsy) and oncology, with commercial operations across the U.S. and Europe; comparable as a high-growth rare disease specialty pharma with similar in-licensing and acquisition-driven model.
• BioMarin Pharmaceutical: U.S.-based rare disease-focused biotech commercializing enzyme replacement therapies for ultra-rare metabolic disorders (phenylketonuria, MPS, CLN2); highly comparable to Immedica's RARE Metabolic franchise and Loargys positioning, though at significantly larger scale.
• Vertex Pharmaceuticals: Global biotechnology company with a focused rare disease franchise in cystic fibrosis and a growing pipeline in sickle cell disease, beta-thalassemia and pain; comparable as a high-margin specialty pharma with disease-modifying rare disease assets commanding premium pricing.
• Recordati Rare Diseases: Italian specialty pharmaceutical group with a dedicated Recordati Rare Diseases unit commercializing treatments for rare metabolic, endocrine and neurological conditions globally; comparable business model focused on in-licensing and commercializing rare disease assets in Europe and beyond.
• Swedish Orphan Biovitrum (Sobi): Swedish-headquartered rare disease specialty pharmaceutical company focused on hematology, immunology and specialty care, with global commercial infrastructure across Europe, MENA and North America; the most direct comparable to Immedica given shared Swedish heritage, rare disease focus, and similar therapeutic area mix.
• Orphan Europe (Recordati subsidiary): European-focused rare disease subsidiary of Recordati commercializing treatments for metabolic, endocrine and neurological rare diseases across EU and MENA; most operationally comparable to Immedica's European commercial model and target indication mix.

Broad incumbents

• Horizon Therapeutics (Amgen): Ireland-headquartered rare disease specialty pharma (now owned by Amgen) with a focus on rare inflammatory, autoimmune and endocrine diseases (Tepezza, Krystexxa, Ravicti until divestiture); Immedica's Dan Camardo is a former Horizon executive, indicating direct operational and strategic overlap.
• Alexion (AstraZeneca Rare Disease): Acquired by AstraZeneca in 2021, Alexion is a global leader in rare disease specialty pharma (paroxysmal nocturnal hemoglobinuria, hypophosphatasia, neuromyelitis optica) with deep U.S. commercial infrastructure; a broader incumbent against which Immedica competes in the rare hematology/metabolic space.
• Shire (now Takeda Rare Diseases): Pre-acquisition Shire was a global leader in rare disease specialty pharma with franchises in hematology, immunology, GI and neurology; now part of Takeda's Rare Diseases business unit, it represents a broad incumbent whose model of acquiring and commercializing rare disease assets across geographies mirrors Immedica's strategy.

Emerging players

• Ultragenyx Pharmaceutical: U.S.-based clinical-stage and commercial rare disease biotech focused on metabolic diseases, with approved therapies for X-linked hypophosphatemia and other ultrarare conditions; emerging player in the same niche as Immedica's RARE Metabolic franchise (e.g., ARG1-D, urea cycle disorders).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/medical-need-europe-ab/about

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries12 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A2 records

Investments1 record

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

Frequently asked questions about Immedica