Funded Biotechnology Startups in Sweden
Sweden's biotechnology funding activity across these 50 rounds spans October 2020 through October 2025, with Stockholm and its surrounding municipalities —…
Sweden's biotechnology funding activity across these 50 rounds spans October 2020 through October 2025, with Stockholm and its surrounding municipalities — Solna, Sundbyberg, Kista, Tullinge — accounting for the majority of entries. Solna-based Cellcolabs closed the most recent listed round ($12M, October 2025), while Calliditas Therapeutics in Stockholm raised the largest disclosed amount at $102M in December 2023.
Lund in Skåne is the clearest secondary cluster, with ten companies in the dataset including Cantargia, Asgard Therapeutics, and BioInvent. The dominant round label throughout is "Series Unknown," covering raises ranging from $170K (Bio-Works, Uppsala) to $46M (Anocca, Södertälje; Vicore Pharma, Mölndal). Named VC stages are sparse: one Series B (Gesynta Pharma, $27M), three Series A rounds, and five Seed rounds among the fifty entries.
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Frequently asked
What are the largest disclosed rounds in this dataset?
Calliditas Therapeutics leads at $102M (Stockholm, December 2023), followed by SmartCella at $54M (Tullinge, July 2024). Anocca and Vicore Pharma each raised $46M — in August 2025 and June 2023 respectively — while Ribocure Pharmaceuticals and Asgard Therapeutics both closed $33M rounds in the 2024–2025 window.
Which cities have the most funded biotech companies in this data?
Stockholm and its adjacent suburbs — Solna, Sundbyberg, Kista, Tullinge, Bromma, Hägersten — together account for the largest share of the 50 entries. Lund in Skåne is the most concentrated single non-capital city with ten companies. Uppsala and Gothenburg each contribute smaller but distinct clusters.
Why do so many Swedish biotech rounds show as Series Unknown?
The majority of the 50 rounds carry a Series Unknown label regardless of size, reflecting that many Swedish-listed biotech companies raise through rights issues or other instruments that do not map cleanly to standard VC stage terminology. Formally labeled stages — one Series B, three Series A, five Seeds — are the exception rather than the rule.
How active has Swedish biotech fundraising been in 2025?
Ten rounds in the dataset carry 2025 dates, running from Gesynta Pharma's $27M Series B in January through Cellcolabs' $12M round in October. The largest single 2025 raise is Anocca at $46M (August), with Ribocure Pharmaceuticals ($33M, July) and OssDsign ($17M, June) also closing notable rounds that year.
Are there any companies that appear more than once in the data?
Pixelgen Technologies raised twice in quick succession — a $6M Seed in December 2022 followed by a $7M Series A in October 2023, both from Stockholm — making it the only company with two entries visible in these 50 rows.
What does the deal size distribution look like across this segment?
Disclosed amounts span from $20K (Fluicell, Gothenburg, October 2024) to $102M (Calliditas, Stockholm, December 2023), with most rounds falling below $30M. At least five entries — LipUm, EnginZyme, Intervacc, Pelago Bioscience, and Mycorena — list undisclosed amounts, so visible figures understate total capital raised across the set.
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