What Lipigon Pharmaceuticals does

Lipigon Pharmaceuticals AB is a Swedish clinical-stage biopharmaceutical company founded in 2010 in Umeå, listed on Nasdaq First North Growth Market (ticker: LIPI), that develops RNA and small-molecule therapeutics targeting disturbances in lipid metabolism. The company's lead asset, Lipisense®, is a liver-specific antisense oligonucleotide (LNA gapmer) targeting ANGPTL4 to lower blood triglycerides; it is currently in a Phase II study in patients with elevated triglycerides (23 patients enrolled, topline expected H2 2025), following Phase I trials in Sweden and a Phase I bridging study in China. Lipigon also pursues an oral small-molecule dyslipidemia program built on DNA-encoded library (DEL) screening in partnership with HitGen and an internal LPL activation validation platform developed with AstraZeneca, plus an earlier-stage ANGPTL4 ASO project for community-acquired pneumonia (CAP) partnered with NTU Singapore and SIAT.

The company's commercial model is asset-partnership driven rather than direct-to-market. Lipigon retains development and commercialization rights worldwide except Greater China, which were licensed to Leaderna Therapeutics (a HitGen spin-off) in June 2023 for up to USD 91 million in upfront, milestone, and royalty payments (USD 1.5 million received upfront). Intended patient segments span rare genetic and severe lipid disorders (Familial Chylomicronemia Syndrome, severe hypertriglyceridemia with risk of acute pancreatitis) and broader dyslipidemia populations at residual cardiovascular risk despite statin therapy (~151 million patients across the seven major markets per company analysis). The company has 1-10 employees, headquarters and laboratories in Umeå (Tvistevägen 48 C), and is led by CEO Johan Liwing with CFO Hugo Petit, Head of Clinical Operations Isabelle Morin, and Chairman Lars Öhman; co-founders Stefan K. Nilsson, Gunilla Olivecrona, and Mikael Elofsson remain connected to the scientific program through their Umeå University research base.

Name

Lipigon Pharmaceuticals

Legal name

Lipigon Pharmaceuticals AB

Website

https://lipigon.se

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Lipigon Pharmaceuticals is a Swedish clinical-stage biopharma developing antisense oligonucleotide and small-molecule therapies for lipid-related diseases, with lead asset Lipisense® (ANGPTL4 ASO) in Phase II trials for elevated triglycerides and dyslipidemia.

Ownership category

akta.pro rank

Product category

Lipid Metabolism Therapeutics

NAICS

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

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antisense Oligonucleotides (ASO) Therapeutics (splice modulation/knockdown) (HLAAADAC)

akta.pro secondary industries

RNA Therapeutics Clinical Development (trial design, endpoints, patient stratification) (HLAAADAH), Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE), Lipidology & Dyslipidemia (HLAKADAK)

Keywords

• Antisense oligonucleotide therapeutics
• Lipid metabolism drugs
• RNA-based therapeutics
• Clinical-stage biopharmaceuticals
• Triglyceride lowering therapy

Headquarters

HQ city

Umeå

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, Marketing or Sales

Revenue model

1. Out-licensing and milestone payments: Lipigon earns revenue through licensing agreements with strategic partners. Under the June 2023 agreement with Leaderna Therapeutics, Lipigon is entitled to upfront payments, milestone payments, and royalties on sales up to USD 91 million total, with USD 1.5 million already received. The company also receives milestone payments from other partnerships and from Secarna-related project milestones.
2. Future product sales: Upon regulatory approval, Lipigon plans to commercialize Lipisense® and other pipeline products either directly or through additional partnerships. Estimated annual sales potential exceeds USD 1 billion for Lipisense® in dyslipidemia and SHTG indications.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Lipigon Pharmaceuticals develops RNA-based antisense oligonucleotide (ASO) drug candidates targeting lipid-related diseases. Its most advanced asset, Lipisense®, is a liver-specific ASO that inhibits ANGPTL4 protein production to lower elevated blood triglycerides, currently in Phase II clinical trials for severe hypertriglyceridemia (SHTG) and related indications. The company also runs an early-stage Dyslipidemia small-molecule program (in partnership with HitGen) and a CAP (Community-Acquired Pneumonia) project applying the same ANGPTL4 antisense approach to lung injury.

Product overview

Lipigon Pharmaceuticals is a clinical-stage pharmaceutical company developing three drug candidates for lipid-related diseases. The core product is Lipisense®, an RNA antisense therapy in Phase II clinical trials targeting elevated triglycerides through ANGPTL4 inhibition. The Dyslipidemia project (partnered with HitGen) aims to develop oral small molecule treatments for lipid disorders. The CAP project applies the same antisense technology to treat pneumonia-related lung damage. The portfolio spans from rare genetic conditions to broader cardiovascular disease prevention.

Differentiator

Problem solved

Functional benefit

Brands

• Lipisense®: Lipigon's most advanced drug candidate - an RNA-based antisense therapy targeting ANGPTL4 protein to lower triglyceride levels in patients with elevated blood lipids; currently in Phase II clinical trials
• Dyslipidemia Project
• CAP Project

Products and services

• Lipisense® Lipisense® is Lipigon's lead clinical-stage drug candidate — an RNA-based antisense oligonucleotide targeting the ANGPTL4 protein to lower elevated blood triglycerides in patients with severe hypertriglyceridemia (SHTG), familial chylomicronemia syndrome (FCS), and broader dyslipidemia. It works by inhibiting ANGPTL4 production in the liver, which increases lipoprotein lipase (LPL) activity to break down triglycerides.
• Dyslipidemia Project A small-molecule drug discovery project targeting dyslipidemia, developed in partnership with HitGen Inc. The project aims to identify orally administered small molecules that activate lipoprotein lipase (LPL) for the treatment of lipid disorders, serving as an alternative to injectable therapies.
• CAP (Community-Acquired Pneumonia) Project An RNA antisense oligonucleotide project targeting ANGPTL4 for treatment and prevention of lung damage associated with Community-Acquired Pneumonia (CAP). The project utilizes the same ANGPTL4 antisense technology as Lipisense® but focuses on the protein's vascular function role in lung injuries rather than lipid metabolism, with candidate evaluations for inhalation and lung tissue absorption.

Quantifiable outcome

• 86% reduction in atherosclerotic lesions (fatty plaques in arteries) in mouse atherosclerosis disease model
• +5 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Leaderna Therapeutics Ltd.coreStrategic or Co-development Partner · 1 June 2023Strategic licensing and development agreement for Lipisense® covering Greater China (China, Hong Kong, Taiwan, Macau). Leaderna obtained rights to develop and commercialize Lipisense® in these territories. Lipigon is entitled to upfront payment, milestone payments, and royalties on sales up to USD 91 million total, with USD 1.5 million received upfront. Leaderna received NMPA approval to start Phase I bridging study in China in Q1 2024. The companies collaborate on a multinational Phase IIa/b study design to meet requirements of European, American, and Asian regulatory authorities.
• Nanyang Technological University (Singapore)minorStrategic or Co-development Partner · 1 September 2020Collaboration with researchers from The Academic Respiratory Initiative for Pulmonary Health at Nanyang Technological University in Singapore and Shenzhen Institutes of Advanced Technology, Chinese Academy of Sciences, for the CAP project. NTU Singapore has published studies on ANGPTL4's role in lung injuries (including Spanish flu 1918 and swine flu 2009). Lipigon's drug project has been tested in established models for bacterial and virus-induced pneumonia with promising results.
• HitGen Inc.coreStrategic or Co-development Partner · 1 January 2020Partnership with HitGen for DNA-encoded library (DEL) screening to identify small molecules that activate Lipoprotein Lipase (LPL) for the Dyslipidemia project. HitGen participates in a share of Lipigon's future revenue streams for each project advanced. HitGen's DEL technology enables screening of hundreds of billions of compounds to identify promising drug candidates for oral tablet treatment.
• Shenzhen Institutes of Advanced Technology, Chinese Academy of SciencesminorStrategic or Co-development PartnerCollaborating institution in the CAP project alongside Nanyang Technological University, contributing to research on ANGPTL4 in lung injuries and testing of Lipigon's drug candidates in pneumonia models.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Regeneron (Praluent): Regeneron co-markets Praluent (alirocumab), a PCSK9 antibody in the same lipid-lowering class. Serves as the second key benchmark in Lipigon's commercial comparables for pricing and physician adoption dynamics.
• Novartis (Leqvio / inclisiran): Novartis markets Leqvio (inclisiran), an siRNA targeting PCSK9 for hypercholesterolemia, which competes in the broader lipid-lowering category that Lipigon targets. As a global pharma incumbent, it sets the commercial benchmark Lipigon would face.
• Alnylam Pharmaceuticals: Alnylam is the established leader in RNAi (siRNA) therapeutics, with multiple approved products including a hypertriglyceridemia program. Uses a related RNA modality targeting liver-expressed proteins, providing a broader RNA therapeutics reference point.
• Dicerna Pharmaceuticals (Novo Nordisk): Dicerna developed GalNAc-conjugated siRNA therapeutics for cardiometabolic diseases before being acquired by Novo Nordisk in 2021. Its technology and pipeline overlap Lipigon's RNAi-based approach for lipid disorders.
• Amgen (Repatha): Amgen markets Repatha (evolocumab), a PCSK9 antibody widely used for lipid management. Lipigon's pricing analysis uses Repatha as the comparable reference price (~$6,000/year), making it the standard-of-care benchmark.

Direct peers

• Wave Life Sciences: Wave develops stereopure oligonucleotide therapeutics with programs in metabolic and rare diseases. Uses similar ASO chemistry to Lipigon and addresses comparable lipid/metabolic disorders, making it a direct platform peer.
• Silence Therapeutics: Silence Therapeutics develops siRNA therapeutics for cardiometabolic and rare diseases, with active programs in hypertriglyceridemia (SLN360 targeting Lp(a) and APOC3). Directly comparable RNA-based approach to liver targets with similar therapeutic indications.
• Arrowhead Pharmaceuticals: Arrowhead develops RNAi-based therapeutics targeting liver-expressed proteins, including cardiometabolic programs (e.g., ARO-APOC3 for hypertriglyceridemia). Competes with Lipigon in the liver-targeted lipid-lowering space using a closely related RNA-based modality.
• Ionis Pharmaceuticals: Ionis is the leading antisense oligonucleotide (ASO) therapeutics company, with prior work on lipid-targeting ASOs (notably Waylivra for FCS). Lipigon uses the same LNA gapmer ASO chemistry against ANGPTL4, making Ionis the most direct comparable on platform and disease focus.

Emerging players

• Verve Therapeutics: Verve is an emerging in vivo gene editing company targeting cardiovascular disease, including lipid-lowering programs (PCSK9, ANGPTL3). Represents a longer-horizon but adjacent modality competing for the same cardiometabolic value pool.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds2 records

Investors3 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 Lipigon Pharmaceuticals