Norway hosts a focused but rapidly growing biologics ecosystem with approximately 70-80 active biologics-related companies. The ecosystem is anchored by Oslo Cancer Cluster (~90 members) and Norway Health Tech (350+ organisations). Key strengths include immuno-oncology, radiopharmaceuticals (building on Algeta/Xofigo legacy), vaccine development, marine biotechnology, and specialised enzyme production. The Research Council of Norway awarded NOK 92+ million in grants to cancer/life science R&D in 2023 alone.
NYKODE THERAPEUTICS ASA (Oslo)
Status: Public (OSE: NYKD) | Employees: ~167 | Website: nykode.com
Norway's leading vaccine/immunotherapy platform company. Vaccibody™ modular platform targeting antigens to APCs. VB10.16 (Abi-suva) HPV16-positive cancer vaccine in Phase II—IND approved for cervical cancer. Major partnerships: Regeneron (multi-target collaboration), MSD (cervical cancer trial). Former Genentech/Roche deal ($200M upfront, terminated Jan 2025). Cash runway into 2028-2029.
LYTIX BIOPHARMA AS (Oslo)
Status: Public (Euronext Growth: LYTIX) | Website: lytixbiopharma.com
Oncolytic peptide immunotherapies. Ruxotemitide (LTX-315) first-in-class oncolytic peptide - Phase II NeoLIPA trial-initiated November 2024 for neoadjuvant melanoma. Licensed to Verrica Pharmaceuticals for BCC (positive Phase 2 January 2025). LTX-401 for liver cancer. Advisors include Nobel Laureate Dr. James Allison.
ONCOINVENT ASA (Oslo)
Status: Public (OSE: ONCIN) | Employees: ~40 | Website: oncoinvent.com
Alpha-emitting radiopharmaceuticals building on Algeta/Xofigo legacy. Radspherin® calcium carbonate microparticles with Radium-224 - Phase 2 ongoing for peritoneal carcinomatosis from ovarian cancer. Own state-of-the-art GMP manufacturing facility in Oslo (unusual for small biotech). Merged with BerGenBio (2024).
ZELLUNA ASA (Oslo)
Status: Public (OSE: ZLNA, listed March 2025) | Website: zelluna.com
First cell therapy company listed on Oslo Stock Exchange. Allogeneic "off-the-shelf" TCR-NK cell therapy for solid cancers. Formed through Ultimovacs + Zelluna Immunotherapy merger (Feb 2025). Lead program: world's first MAGE-A4 targeting TCR-NK approaching FIH studies. NOK 51.7M private placement (Dec 2024).
CIRCIO HOLDING ASA (Oslo)
Status: Public (OSE: CRNA) | Website: circio.com
Circular RNA therapeutics pioneer. circVec Platform demonstrates 15-fold enhanced and 70-fold more durable protein expression vs conventional mRNA. TG01 legacy RAS-mutant cancer vaccine in Phase II. Secured up to NOK 300M convertible bond facility.
EXACT THERAPEUTICS AS (Oslo)
Status: Public (OSE listed 2020) | Website: exact-tx.com
Acoustic Cluster Therapy (ACT®) platform using ultrasound-mediated targeted drug delivery (sonoporation). Clinical-stage programs across oncology, infectious diseases, neurological conditions.
CURIDA HOLDING AS (Oslo/Elverum)
Status: Private (PE-backed) | Website: curida.no
Norway's leading pharmaceutical CDMO with 50+ years GMP expertise. Services: Blow-Fill-Seal, nasal sprays, ophthalmic solutions, monoclonal antibody development (25+ years, 3L/50L bioreactors, HEK/CHO). EU GMP, ISO 13485/9001, FDA DMF certified. NOK 230-260M investment from Signet Healthcare Partners (2024). Chairman Ole J. Dahlberg (former Thermo Fisher VP).
SMERUD MEDICAL RESEARCH (Oslo)
Founded: 1993 | Full-service Phase I-IV CRO in 8 countries. 1,000+ clinical trials managed. Specialisations: orphan drugs, personalized medicine, ATMPs. Unique co-investment/co-development model with Scandinavian Biotech Venture AS - major non-dilutive funding source.
LINK MEDICAL (Oslo)
25+ years Nordic experience. Full-service CRO and regulatory services. Early oncology Phase I specialists.
ARCTICZYMES TECHNOLOGIES ASA (Tromsø)
Status: Public (OSE: AZT) | Website: arcticzymes.com
Global leader in cold-adapted enzymes from Arctic marine environment. SAN HQ GMP Salt Active Nuclease for biomanufacturing (DMF filed with FDA). Critical supplier to gene therapy industry for vector purification. 2024 revenue NOK 108.1M, Q3 2025 52% growth in Biomanufacturing segment. ISO 13485 certified.