Immunovia (IMMUNOV)

Business description

Immunovia is a Swedish company, specialised in diagnostics for oncology and autoimmune diseases. Its main product is IMMray PanCan-d, an antibody microarray based on its proprietary IMMray platform. A prospective trial in high-risk patients will start in Q416. The company expects to generate initial out-of-pocket sales in 2018.

Stock data

Market cap.SEK2968.3m
Last closeSEK171.40
High / Low (52 weeks)SEK191.4 / SEK76.5
Stock market listingOMX
Forecast net cash (SEKm)105.6
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual28.393.960.9
Relative *26.890.262.2

* % Relative to local index

Other companies in sector Show

4SC aap Implantate
Aastrom Biosciences AB Science
Abcam Abivax SA
Ablynx Abzena
Acarix Achillion Pharmaceuticals
Acorda Therapeutics Actinium Pharmaceuticals
Active Biotech Acucela
Addex Therapeutics Adherium
ADL Bionatur Solutions Adocia
Advanced Medical Solutions Aegerion Pharmaceuticals
Aeterna Zentaris AFT Pharmaceuticals
Agennix Akari Therapeutics
Alchemia Alexza Pharmaceuticals
Algeta Alimera Sciences
ALK Abello Alkermes
Allergy Therapeutics Alliance Pharma
Allium Medical Solutions Alnylam Pharmaceuticals
Amarantus BioScience Amarin
Amplifon AmpliPhi Biosciences
Angle Animalcare Group
Anteo Diagnostics Anthera Pharmaceuticals
Aratana Therapeutics Ardea Biosciences
Ardelyx Arena Pharmaceuticals
arGEN-X Argos Therapeutics
Ariad Pharmaceuticals Arix Bioscience
Ark Therapeutics Group ArQule
Array BioPharma Arrowhead Research Corporation
Ascendis Pharma ASIT biotech
ASLAN Pharmaceuticals Astex Pharmaceuticals
Athersys Atossa Genetics
Avacta Group Avalanche Biotechnologies
AVEO Pharmaceuticals Avita Medical
Balda Basilea Pharmaceutica
Bavarian Nordic Bellus Health
Benitec Biopharma BioCryst Pharmaceuticals
BioInvent BioLight Life Sciences
BioLineRx BiondVax Pharmaceuticals
Bionomics Bionor Pharma
Biota Holdings Biotie Therapies Corp
Biotron Bluebird Bio
Bone Therapeutics Bonesupport
BrainStorm Cell Therapeutics BTG
C4X Discovery Holdings Caladrius Biosciences
Can-Fite BioPharma CannTrust Holdings
Cantargia Capstone Therapeutics
Carmat CASI Pharmaceuticals
Cell Therapy Celldex Therapeutics
Cellectis Cellular Biomedicine Group
Celyad Cerulean Pharma
Circadian Technologies Clal Biotechnology Industries
Clavis Pharma Cleveland BioLabs
Clinigen Group Clinuvel
CO.DON CollPlant Holdings
Consort Medical Corium International
Crescendo Crossject
CSL Curetis NV
Curis Cytori Therapeutics
Cytos Biotechnology CytRx Corporation
DBV Technologies Dechra Pharmaceuticals
Delcath Systems Deltex Medical
Derma Sciences DiaSorin
Diaxonhit e-Therapeutics
Egalet Corporation EKF Diagnostics
Elbit Medical Ellex Medical Lasers
Emergent BioSolutions Endocyte
Epigenomics Erytech Pharma
Esperion Therapeutics Evotec
Exact Sciences Exelixis
EyeGate Pharmaceuticals Factor Therapeutics
Formycon Forward Pharma
Fresenius SE & Co. KGaA Futura Medical
Galapagos Galmed Pharmaceuticals
Genedrive Genfit
Genkyotex Genmab
GeoVax GI Dynamics
Gilead Sciences GNI Group Ltd
GW Pharmaceuticals Halozyme Therapeutics
Heat Biologics Inc. Heidelberg Pharma
Herantis Pharma Horizon Discovery
Hutchison China MediTech Hybrigenics
iCo Therapeutics Idenix
Immune Pharmaceuticals Immunicum
Immunodiagnostic Systems Holdings ImmuPharma
Immutep Imprimis Pharmaceuticals
Imugene Incyte Corporation
Infinity Pharmaceuticals InMed Pharmaceuticals
Innate Pharma Insmed
Intec Pharma International Stem Cell
Invion Ion Beam Applications
Ipsogen Iridex
Ironwood Pharmaceuticals Islet Sciences
Ixico Japan Tobacco
KaloBios Pharmaceuticals Kane Biotech
Karolinska Development Kazia Therapeutics
Keryx Biopharmaceuticals Kiadis Pharma
Laboratorios Farmacéuticos ROVI LCA-Vision
LeMaitre Vascular Lifeline Scientific
LifeWatch Ligand Pharmaceuticals
Lipocine Lombard Medical Technologies
MagForce Mast Therapeutics
Medcom Tech Medicago
MediciNova Medigene
Medivir Merrimack Pharmaceuticals
Merrion Pharmaceuticals Mesoblast
MethylGene MGC Pharmaceuticals
Midatech Pharma MISSION Therapeutics
Molecular Partners MolMed
Mologen Momenta Pharmaceuticals
MorphoSys Nanobiotix
Nanosonics Navidea Biopharmaceuticals
Nektar Therapeutics NeoStem
Neovacs NetScientific
NeuroVive Pharmaceutical Newron Pharmaceuticals
Nexstim NicOx
NMC Health NorDiag
Nordion NovaBay Pharmaceuticals
Novacyt NPS Pharmaceuticals
Nuevolution Ocata Therapeutics
Omega Diagnostics Group Omeros Corporation
OncoGenex Pharmaceuticals Oncology Venture
Oncolytics Biotech Inc OncoMed Pharmaceuticals
Onconova Therapeutics Oncothyreon
Onxeo Onyx Pharmaceuticals
Opexa Therapeutics OPMEDIC Group
Optos Orexigen Therapeutics
Orexo Orgenesis
Oryzon Genomics Ossur
OvaScience OWL
Oxford BioMedica Pacific Edge
Paion Paladin Labs
Patheon PDL BioPharma
Pharmacyclics PharmaMar
Pharmaxis Pharming Group
Photocure Phylogica
Pixium Vision Pluristem Therapeutics
Prescient Therapeutics Probiodrug
ProMetic Life Sciences Prosensa
Proteome Sciences PsiOxus
QRxPharma Quantum Genomics
Quantum Pharmaceuticals Race Oncology
RedHill Biopharma Regeneus
Relmada Therapeutics ReNeuron Group
Resverlogix REVA Medical
Rovi RXi Pharmaceuticals
Sangamo BioSciences Sarepta Therapeutics
Sartorius Scancell
Selvita Shire
Sierra Oncology Silence Therapeutics
Simavita Sinclair Pharma
Sirtex Medical Skyepharma
Smith & Nephew Sobi
Sosei Group Corporation Source Bioscience
SQI Diagnostics Stallergenes
StemCells Stentys
Stratec Biomedical Sucampo Pharmaceuticals
Sunesis Pharmaceuticals Surgical Innovations
Sygnis SymBio Pharmaceuticals
Synairgen Synergy Health
Synta Pharmaceuticals T‐cell cancer therapies
Targovax TearLab Corp
Tekmira Telix Pharmaceuticals
TESARO Theraclion
Therapix Biosciences Threshold Pharmaceuticals
ThromboGenics TiGenix
Tissue Regenix Tissue Therapies
Titan Pharmaceuticals Tonix Pharmaceuticals
Topotarget Touchstone Innovations
Transgene Trillium Therapeutics
Trimel Pharmaceuticals TruScreen Ltd
TxCell UCB
UDG Healthcare uniQure NV
Universal Biosensors VBI Vaccines
Vectura Verastem
Verisante Technology Vernalis
Verona Pharma Vertex Pharmaceuticals
Viralytics ViroPharma
Vivalis Vivus
VolitionRx WaferGen Biosystems
Xbrane Biopharma Xencor
Zafgen Zealand Pharma
Ziopharm Oncology
Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2016A 24.5 (14.4) (14.7) (98.0) N/A N/A
2017A 24.2 (44.3) (45.2) (267.0) N/A N/A
2018E 27.2 (60.1) (61.8) (365.0) N/A N/A
2019E 38.1 (70.4) (73.4) (434.0) N/A N/A

Last updated on 12/04/2018

Investment summary

Immunovia is developing IMMray PanCan-d, a blood-based test for the early detection of pancreatic cancer. Immunovia is running the PANFAM-1 prospective trial in high-risk patients and expects to generate initial self-pay sales in Q418. Immunovia is conducting a retrospective study with Lund University Diabetes Centre, to compare diabetes patients who developed pancreatic cancer with those who did not. Immunovia is also running the prospective PANDIA-1 study in patients >50 years old with new onset diabetes. Immunovia and the University College London have started collecting samples from patients with early symptoms which is the initial part of the prospective PANSYM-1 study. Additionally, IMMray has potential in immune diseases. The company's shares have been approved for listing on Nasdaq Stockholm. Cash and equivalents at end-2017 were SEK192.4m.

Last updated on 27/04/2018

Industry outlook

Immunovia is targeting a potential opportunity of over SEK41bn. It will first target patients with a family history of pancreatic cancer, or other pancreatic diseases with increased risk of cancer (estimated at 200,000 in the EU/US) followed by patients over 50 years of age diagnosed with type 2 diabetes, (estimated at 3.4 million new patients per year) and patients with early gastric symptoms (estimated 1m tests).

Last updated on 27/04/2018

Key management

Mats Grahn, CEO
Hans Liljenborg , CFO

Company address

Medicon Village
Lund
SE-223 81
Sweden
+46 46 275 60 00
View website