AJ Vaccines

What AJ Vaccines does

AJ Vaccines A/S is a Danish vaccine manufacturer headquartered in Copenhagen, established in 2017 when Statens Serum Institut (SSI) divested its vaccine production operations. SSI's vaccine heritage dates back to 1902, and AJ Vaccines inherited more than a century of Danish vaccine development and manufacturing expertise. The company employs 500+ staff representing 39 nationalities and operates as a privately held Danish public limited company (CVR-nr. 3791 1143).

The company's core technology is biological: live attenuated BCG vaccines (Danish strain 1331), inactivated polio vaccine with proprietary dose-sparing technology, tetanus/diphtheria/pertussis combination vaccines, and the Tuberculin PPD RT23 diagnostic. Its flagship therapeutic product, VesiCulture, repurposes the BCG Danish strain 1331 for intravesical immunotherapy of non-muscle invasive bladder cancer (NMIBC), representing a distinct oncology vertical alongside the core vaccine franchise. The company also supplies Diluted Sauton as a BCG culture reagent.

AJ Vaccines generates revenue through B2B and B2G sales of vaccines, diagnostics, and therapeutic products, distributing globally via direct sales to national immunization programs and the WHO Global Polio Eradication Initiative, plus a dedicated distributor network (vesiculture.com) for the bladder cancer franchise. Pricing is not publicly disclosed and follows standard government tender and healthcare procurement channels. Customer concentration is high, anchored in government health ministries, the WHO, and a narrow distributor base for therapeutic products.

Name

AJ Vaccines

Legal name

AJ Vaccines A/S

Website

https://ajvaccines.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

AJ Vaccines A/S is a Danish vaccine manufacturer, established in 2017 as a spin-off from Statens Serum Institut, that develops and distributes BCG and polio vaccines, tuberculosis diagnostics, and VesiCulture BCG immunotherapy for bladder cancer to governments and healthcare providers worldwide.

Ownership category

akta.pro rank

Product category

Vaccines (Pharmaceuticals)

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), In-Vitro Diagnostic Substance Manufacturing (325413)

SIC

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

akta.pro primary industry

Prophylactic Human Vaccines (routine, pediatric, adult) (HLAAAEAA)

akta.pro secondary industries

Therapeutic Vaccines (cancer, chronic infection immunotherapy) (HLAAAEAB), Vaccine Clinical Development & Regulatory Affairs (HLAIAEAM), Vaccine Procurement, Tendering & Immunization Supply Programs (HLAIAEAN)

Keywords

• Human vaccines
• BCG immunotherapy
• Polio vaccination
• Tuberculosis diagnostics
• Bladder cancer therapy

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Vaccine Sales: Development, manufacture and distribution of vaccines for diphtheria, pertussis, polio, tetanus, tuberculosis through national vaccination programs and global health initiatives.
2. Therapeutic Solutions: VesiCulture BCG therapy product for non-muscle invasive bladder cancer treatment sold through distributors and healthcare providers.
3. Diagnostics: Tuberculin PPD RT23 diagnostic product for tuberculosis detection.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

AJ Vaccines develops, manufactures, and distributes vaccines, diagnostics, and therapeutic solutions. Its core offerings include BCG vaccines for tuberculosis vaccination and bladder cancer immunotherapy (VesiCulture), inactivated polio vaccine (Picovax), tetanus and diphtheria boosters (diTeBooster, diTekiBooster), and the Tuberculin PPD RT23 tuberculosis diagnostic, sold to governments, healthcare providers, and distributors worldwide.

Product overview

AJ Vaccines develops and manufactures a portfolio of vaccines, diagnostics, and therapeutic solutions for global health. The core product portfolio includes BCG vaccines (BCG Vaccine "AJ Vaccines" and VesiCulture for bladder cancer immunotherapy), polio vaccines (Picovax®), tuberculosis diagnostics (Tuberculin PPD RT23), and tetanus/diphtheria vaccines (diTeBooster® and diTekiBooster). The company also produces laboratory reagents such as Diluted Sauton. AJ Vaccines contributes to the WHO Global Polio Eradication Initiative and participates in the Childhood Vaccination Programme. The products target diseases including tuberculosis, bladder cancer, polio, diphtheria, pertussis, and tetanus.

Differentiator

Problem solved

Functional benefit

Brands

• VesiCulture: BCG Culture product for bladder cancer treatment
• Picovax
• diTeBooster
• diTekiBooster
• Tuberculin PPD RT23

Products and services

• BCG Vaccine "AJ Vaccines" Free-dried BCG vaccine for tuberculosis immunization manufactured by AJ Vaccines, with specific temperature excursion tolerances (8-25°C for 12 hours, below -20°C for 120 hours). Used for TB vaccination in national immunization programs.
• VesiCulture (BCG Culture) Live attenuated Mycobacterium bovis BCG, Danish strain 1331, used for intravesical immunotherapy treatment of primary/recurrent flat urothelial cell carcinoma in situ of the bladder and as adjuvant treatment after TURBT for superficial bladder cancer. Sold through distributor portal at vesiculture.com.
• Picovax (Inactivated adsorbed Polio Vaccine) Inactivated polio vaccine for immunization against poliomyelitis, requiring strict 2-8°C storage and not recommended for use if exposed to temperatures above 25°C or below 2°C. Used in WHO Global Polio Eradication Initiative and Childhood Vaccination Programme.
• Tuberculin PPD RT23 Tuberculin skin test for diagnosis of tuberculosis infection, can be used until expiration date if exposed to 8-25°C for maximum 24 hours accumulated. Used for TB screening and diagnosis in healthcare facilities.
• diTeBooster (Td Vaccine) Tetanus and diphtheria booster vaccine (Td), can be used until expiration date if exposed to 8-25°C for maximum 72 hours accumulated. Used for routine booster immunization.
• diTekiBooster (TdaP Vaccine) Tetanus, diphtheria, and pertussis combination vaccine (TdaP), can be used until expiration date if exposed to 8-25°C for maximum 72 hours accumulated. Used for combined booster immunization against three diseases.
• Diluted Sauton Culture medium for BCG, can be used until expiration date if exposed to 8-25°C; contact required for 25-30°C exposure; not recommended above 30°C or below +2°C. Used as a laboratory reagent.

Quantifiable outcome

• BCG immunotherapy significantly reduces recurrence and prevents progression to muscle-invasive bladder cancer compared to chemotherapy
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered foundational and core.

• Statens Serum InstitutfoundationalStrategic or Co-development Partner · 1 January 2017AJ Vaccines was established in 2017 when Statens Serum Institut divested its vaccine production. The company inherits 100+ years of vaccine expertise from SSI, dating back to 1902, when SSI played a crucial role in preventing epidemics in Denmark.
• WHO Global Polio Eradication InitiativecoreStrategic or Co-development PartnerAJ Vaccines participates in the WHO Global Polio Eradication Initiative, contributing dose-sparing technology to expand inactivated polio vaccine supply globally. This partnership aligns with their role in the Childhood Vaccination Programme.
• Childhood Vaccination ProgrammecoreStrategic or Co-development PartnerAJ Vaccines is part of the Childhood Vaccination Programme, providing vaccines for routine childhood immunization against major infectious diseases globally.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• China National Biotec Group (CNBG / Sinopharm): CNBG is China's largest vaccine manufacturer and supplies pediatric vaccines, polio vaccines, and BCG products across domestic and emerging-market channels. It represents a comparable emerging-market vaccine manufacturer with similar WHO and public-sector engagement.
• Valneva: Valneva is a European specialty vaccine company focused on travel and endemic disease vaccines. While its portfolio focus is narrower than AJ Vaccines', its European manufacturing footprint and public-market valuation provide a useful comparable for a mid-sized specialty vaccine business with WHO-adjacent customer engagement.
• Indian Immunologicals Limited: Indian Immunologicals manufactures pediatric and animal vaccines, including DTP and BCG products, supplying both Indian immunization programs and select export markets. Its product mix and public-sector customer base overlap meaningfully with AJ Vaccines, even though its geographic focus is primarily South Asia.
• Merck KGaA: Merck KGaA operates a life sciences business that includes therapeutic BCG products for bladder cancer, competing directly with AJ Vaccines' VesiCulture franchise in the intravesical immunotherapy market. The overlap is concentrated in the bladder cancer therapeutic vertical rather than the pediatric vaccine portfolio.

Direct peers

• Bharat Biotech: Bharat Biotech is an Indian vaccine manufacturer with a portfolio spanning pediatric combination vaccines, polio vaccines, and BCG products, supplying both domestic immunization programs and global tenders. It is directly comparable to AJ Vaccines in scale, customer base (national immunization programs and WHO), and product mix.
• GSK Vaccines: GSK operates one of the largest vaccine franchises globally, with a portfolio spanning pediatric combination vaccines, polio vaccines, and therapeutic oncology products. It competes head-to-head with AJ Vaccines in WHO and national immunization tenders and represents the most established benchmark for the company's commercial model.
• PT Bio Farma: PT Bio Farma is an Indonesian state-owned vaccine manufacturer producing a range of pediatric vaccines including polio, DTP, and BCG, supplying both domestic and global tenders through WHO and UNICEF. Its product mix, public-sector customer base, and WHO procurement participation make it a close operational peer to AJ Vaccines.
• Sanofi Pasteur: Sanofi Pasteur is the vaccines division of Sanofi and one of the world's largest vaccine manufacturers, producing pediatric vaccines (including polio, DTP, and BCG) for national immunization programs globally. It directly competes with AJ Vaccines for WHO and government tenders and overlaps on the inactivated polio vaccine and combination vaccine categories.
• Serum Institute of India: Serum Institute of India is the world's largest vaccine manufacturer by dose volume, supplying pediatric vaccines (DTP, polio, BCG, measles) to UNICEF, WHO, and national immunization programs. It is the dominant low-cost competitor in the same tender channels that AJ Vaccines serves, making it the closest direct peer on GTM motion and customer base.

Broad incumbents

• Merck & Co. (MSD): Merck & Co. operates a broad vaccines portfolio and a major oncology franchise, and has historically been a key supplier of BCG products. As a much larger incumbent, it competes with AJ Vaccines across multiple vaccine categories and in the bladder cancer immunotherapy space, while also setting the bar for regulatory and commercial scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aj-vaccines

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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 AJ Vaccines