Established in: 2006

CEO: Michael Engsig


Vaccibody provides superior vaccines for human and veterinary use, based on extensive understanding of the immunological principles and physiological mechanisms. The technology builds on research conducted by professors Inger Sandlie and Bjarne Bogen at the University of Oslo.

RADFORSK has been an active owner in the process of commercializing the technology, and still plays an active part as board member and the company’s major investor.


Established in: 2009

CEO: Geir Åge Løset


Nextera AS works to develop new and improved treatment modalities for patients with autoimmune diseases, cancer and chronic infections. The company offers a unique and novel technology platform built on phage display, which it applies in protein engineering and evolution of T cell receptors and MHC class II molecules.

The technology is developed by Nexteras CSO, Dr. Geir Åge Løset who co-founded the company as a spin out from his work at the group of Professor Inger Sandlie and the Centre for Immune Regulation, University of Oslo. RADFORSK is a major shareholder of the company.


Established in: 2010

CEO: Jan Alfheim


Oncoinvent AS is developing novel product candidates for cancer treatment. The company was founded by Roy Larsen, the entrepreneur behind Algeta and Nanovector, in 2010 and is still in the research-phase.

RADFORSK was the first external investor in the company and will take an active role in the commercialization process of the technology.

PCI Biotech

Established in: 2000

CEO: Per Edvard Walday


PCI Biotech develops therapeutic products based on its proprietary photochemical internalisation (PCI) technology. The company was founded through joint effort by RADFORSK and Photocure and is today listed on the Oslo Stock Exchange.

RADFORSK was deeply involved in the early development of the company and still remains a significant shareholder of PCI Biotech.


Established in: 2010

CEO: Øystein Soug


Targovax is a clinical stage immuno-oncology company dedicated to the development of highly targeted immunotherapies for cancer patients. RADFORSK collaborated with the researchers Gustav Gaudernach og Jon Amund Eriksen to found the company in 2010.

In 2015 Targovax joined forces with the Finnish immune-oncology company Oncos, in a merger supported by HealthCap. RADFORSK is still a substantial shareholder in the company.


Established in: 2011

CEO: Øyvind Kongstun Arnesen


Ultimovacs ASA specialices in developing novel immunotherapies against cancer, focusing on therapeutic cancer vaccines. The Ultimovacs technology is based on research by Institute for Cancer Research at the Norwegian Radium Hospital.

The company was formally established by the TTO Inven2 in collaboration with RADFORSK and Gjelsten Holding. RADFORSK has acted as an active owner throughout the commercialization process is still a major shareholder.

Ultimovacs ASA was listed on Oslo Stock Exchange in June 2019.

Nordic Nanovector

Established in: 2009

CEO: Eduardo Bravo


Nordic Nanovector’s lead clinical-stage product opportunity is Betalutin. Researchers Roy Larsen and Øyvind Bruland, who also developed the Algeta technology, established the company in 2009.

RADFORSK was Nordic Nanovector’s first investor, and Jónas Einarsson was member of the board until the company was listed. RADFORSK still remains a significant shareholder of Nordic Nanovector.


Established in: 2001

CEO: Håvard Hildeng Hauge


Biomolex specialises in digital autoradiography and was founded by RADFORSK in 1999. The Biomolex technology measures radioactive emissions directly and in real time and is RadForsks only hardware-investment.

RADFORSK still holds shares in the company.


Established in: 1993

CEO: Daniel Schneider


Photocure is a world leading company in the field of photodynamic technology. The company was founded in collaboration with RADFORSK in 1996 and we have been heavily involved in the development of Photocure ever since.

To this day, RADFORSK is still one of the major shareholders of the company.


Established in: 2014

CEO: Richard Stratford


NEC OncoImmunity AS is a Norwegian bioinformatics company. NEC OncoImmunity has been specifically founded to develop software solutions to analyse exome or RNASeq data from a sequenced tumor, and identify immunogenicity within the context of the patient’s specific HLA genotype and the patient’s specific mutated neo-antigen profile.

The solution will guide the design of patient selection for clinical trials in cancer immunotherapy, and in addition guide targeted discovery of novel cancer immunotherapies.

NEC Corporations acquired OncoImmunity AS in July 2019, and hence the name changed to NEC OncoImmunity AS.

RADFORSK was lead investor until the acquisition.

Established in: 2016

CEO: Miguel Forte


Zelluna Immunotherapy was founded in 2016 and is a cell based spin off from the Norwegian Radium Hospital. Zelluna is backed on technology developed by the inventors Gunnar Kvalheim, Else Marit Suso, Sébastien Wälchli and Gustav Gaudernack at the Norwegian Radium Hospital. The Company has access to a panel of TCRs and has multiple TCRs in pre-clinical development targeting several important cancer antigens.

Zelluna Immunotherapy received BIA funding from the Norwegian Research Council in February 2017. The total grant from the Norwegian Research Council is 14 mNOK and will support Zelluna with funding for developing novel TCRs drug candidates through clinical development.

The investors in the Company are RADFORSK, Inven2, Birk Venture, RO Invest and Prieta.

Established in: 2018

CEO: Jon Amund Eriksen


Hubro Therapeutics aims to develop a technology plattform for cancer vaccines in order to treat stomach- and colon cancer.

The technology stems from a collaboration between Norsk Hydro and the Radium Hospital. CEO Jon Amund Eriksen is the founder of the company and has long experience from R&D within cancer treatment from the industry, latest from Targovax ASA.

The investors in the company are Radforsk, Investionor and several buiness angels.