Oncopeptides (ONCO) Investing in Life Science 2025 summary

Company overview and strategy

• Celebrating 25 years, focused on difficult-to-treat cancers with a commercialized drug and innovative pipeline.

• Employs around 80 people split between headquarters/R&D and key European markets.

• Commercialization centers on Pepaxti, approved in Europe since August 2022 for multiple myeloma.

• Expansion strategy includes direct sales in key markets and partnerships elsewhere.

• Pipeline and partnerships aim to diversify revenue and de-risk the business.

Product and market performance

• Pepaxti prolongs life for multiple myeloma patients with minimal side effects.

• Q2 sales reached SEK 19 million, up 45% from Q1 2025 and 135% year-over-year.

• Achieved three consecutive quarters of over 30% quarter-over-quarter growth.

• Included in European treatment guidelines for multiple myeloma, boosting credibility.

• Estimated annual sales potential for Pepaxti in Europe is SEK 1.5 billion.

Commercialization and geographic expansion

• Direct presence in Germany, Spain, Italy, and Austria; partnerships in South Korea and Greece.

• Rights issue raised SEK 150 million, oversubscribed at 157%.

• Market access and price negotiations are required country by country in Europe.

• Phase one (Germany, Switzerland, Austria) and phase two (Italy, Spain) cover about 50% of market potential.

• Key markets are expected to drive profitability by end of 2026.