Optimizing Treatment and Diagnostics

Spago Nanomedical AB (publ) is a Swedish clinical phase company, developing products for treatment and imaging diagnostics of cancer and other severe diseases.

More Accurate Treatments and Diagnosis

The company's operations are based on a patented material for the design of functional nanoparticles that accumulate physiologically in tumors, which could enable higher therapeutic and diagnostic precision. The current pipeline projects have the potential to improve patient care in diseases with urgent medical needs.

The Tumorad® program aims to develop a novel therapeutic radiopharmaceutical targeting solid tumors based on functional nanoparticles with radioactive isotopes. The design of Tumorad® could make tumor selectivity possible even in the case of small, difficult-to-reach and aggressive tumors, which enables efficient radiation treatment of the cancer while minimizing the risk of adverse effects. The SpagoPix program aims to launch a ground-breaking gadolinium-free MRI contrast agent for visualization of cancer and similar serious conditions. Unlike the conventional low molecular-weight MRI contrast agents, which enhance healthy tissue as well as diseased tissue, and therefore results in a relatively high proportion of false positive findings, Spago Nanomedical’s proprietary contrast agent is designed to selectively accumulate in tumor tissue. This improves the precision of MRI scans for suspected cancers. With better cancer diagnostics, the chances of successful and cost-efficient treatment of cancer patients improve.

Spago Nanomedical´s share is listed on Nasdaq First North Growth Market in Stockholm  (ticker: SPAGO).

Spago Nanomedical's vision is to engage in competitive and successful development of products for increased survival and quality of life for patients and thereby create long-term profitability for the company and its owners.

Spago Nanomedical's objective is to become a leading company within diagnostics and therapy based on nanomedicine through the development of products that benefit patients and provide good health economics.

Spago Nanomedical's overall strategy is to conduct development of medical projects based on the company's proprietary and patented nanomaterial. The business strategy builds on commercializing the company's development projects through strategic collaboration and outlicensing to industrial partners who have the resources to bring the product to market and clinical use. This reduces the capital need and the time before revenue is received, and increases the potential for successful market penetration.

Comments from the CEO

During the fall, we took a decisive step forward in the development of our drug candidate ¹⁷⁷Lu-SN201 in the Tumorad program. The independent Data Monitoring Committee's (DMC) recommendation in October to increase the dose to 20 MBq/kg in the ongoing Phase I/IIa study, Tumorad-01, together with the observation of clearly visible tumor uptake in patients, marks a breakthrough for the program and, according to the DMC, can be considered Proof-of-Concept in humans. This confirms that our platform technology works as intended for the delivery of radiation to tumors and represents an important transition to the next phase in the company's clinical development.

Based on the DMC's review of data from all patients treated to date, the DMC concludes that the safety profile remains manageable and consistent and that the maximum tolerated dose (MTD) has not yet been reached. In addition to showing that Tumorad is safe at current dose levels, the DMC's recommendation to proceed and enroll a patient at a higher dose level is significant from a therapeutic and, in the future, commercial perspective. The higher the dose that is tolerated, the more potent a future drug could be. We now look forward to the DMC's next analysis and recommendation in early next year.

The main objective of phase I part of the study is to document safety and identify a dose for treatment in the next stage. As with all cancer treatments, but perhaps even more so in radiation therapy, an acceptable safety profile is crucial. It is therefore very gratifying to note that safety continues to be in line with previous observations, even at higher dose levels. The side effects we've seen are mainly temporary effects on blood platelets, which is expected with lutetium-based treatments, without any impact on other critical organs like the kidneys. Tumorad thus has a safety profile that could be a clear competitive advantage over other RNT drugs, both those already on the market and those in development, which often have complex side effect profiles.

The visible uptake of ¹⁷⁷Lu-SN201 in cancer tumors observed in several patients, with significant levels in one patient with the rare cancer adenoid cystic carcinoma (ACC), is a significant success for the program and a historic milestone for the company. It provides clinical confirmation of our mechanism for delivering radioactive isotopes to tumors and clear support for the effectiveness of our nanoparticle-based platform in humans. At the same time, it also provides a solid foundation for continued development towards efficacy studies in the Phase IIa part of the study.

The new observations may also open up development paths in indications with potential for orphan drug designation (ODD). We are exploring opportunities for faster development of Tumorad in rare types of cancer, with ACC as a clear example. ODD offers several advantages, such as regulatory guidance, fee reductions, and market exclusivity once a drug has been approved. Continued development in indications with the potential for orphan drug designation could facilitate both upcoming studies and future commercialization, while also making the project more attractive for partnerships.

We continue to work closely with our clinical partners in Australia, where recruitment for the Tumorad-01 study is proceeding according to plan. Our participating clinics continue to show strong commitment to the study, and the response from both investigators and patients is very positive. This continuity and confidence in the clinical work is crucial for us to be able to determine the optimal therapeutic dose and move on to the next clinical stage with Tumorad.

Interest in radiopharmaceuticals continues to grow globally, driven by medical advances and significant industrial investment. Our technology platform and the clinical data we are now generating differentiate Spago Nanomedical in this rapidly growing field. The combination of promising clinical safety and demonstrated tumor accumulation in cancer patients places Tumorad in an attractive position ahead of the next development phase, and we are very optimistic about the rest of the year and the period ahead.

Mats Hansen, CEO Spago Nanomedical AB

Board of Directors

Alan Raffensperger

Chairman of the Board

Born: 1960

Member of the board since: 2023

Holdings (related parties included): 2,540,931 shares

Education and experience: Alan Raffensperger is chairman of the board of Surgify Medical OY and the Rolf Luft Foundation for Diabetes Research at the Karolinska Institute.  He is also a board member of Inceptua SA, a global pharma services company. Alan has long and solid experience in life science through leading positions in both SOBI – Swedish Orphan Biovitrum AB (publ), Amgen, Roche Pharmaceuticals and Pharmacia / Pfizer, as well as smaller companies. Alan has in his roles of CEO and board member experience from the entire development chain from early research through to commercialization, licensing, and sale of entire companies. He studied MBA from the George Washington University School of Business and holds a bachelor of science degree in Emergency Health Services Management from the University of Maryland, Baltimore (UMB).

Other appointments: Chairman of the board of Surgify Medical OY and the Rolf Luft Foundation for Diabetes Research at the Karolinska Institute, and a board member of Inceptua SA.  

Independent in relation to the company’s major shareholders, the company and its management.

Mikael von Euler

Board Member

Born: 1953

Member of the board since: 2025

Holdings (related parties included): 624, 996 shares

Education and experience: Mikael von Euler is a board member of Dicot Pharma AB and Annexin Pharmaceuticals AB, and a board member and CEO of M Von Euler Consulting AB. Mikael has more than 30 years of experience in the pharmaceutical industry and has been, among other things, Senior Vice President and CMO of Aprea Therapeutics, CMO of KDevOncology, Akinion, Axelar and Oncos Therapeutics (now Targovax). He has held several senior positions within the global organization of large pharmaceutical companies, including Cluster Head for Roche/Genentech, Vice President for GlaxoSmithKline and Global Product Director for AstraZeneca. Mikael holds a Doctor of Medicine (PhD) from Karolinska Institutet and is a licensed physician and specialist in oncology.

Other appointments: Board member of Dicot Pharma AB and Annexin Pharmaceuticals AB, and a board member and CEO of M Von Euler Consulting AB.

Independent in relation to the company’s major shareholders, the company and its management.

Kari Grønås

Board Member

Born: 1964

Member of the board since: 2018

Holdings (related parties included): 601,659 shares

Education and experience: Kari Grønås is pharmacist and has long experience of industrial contrast agents and drug development from Bayer AS, Algeta ASA, PhotoCure ASA, and Amersham Health. She worked as a project leader for Xofigo, where the job included applications for marketing approval at EMA and FDA but also responsibility for CMC in the contacts between Algeta and Bayer. Kari has also been the project leader for developing the contrast agent Hexvix until market approval in EU/EEA.

Other appointments: Consultant for start-up companies in the pharmaceutical and biotech industry. Owner and CEO of K og K AS, board member of Immunoquest AS and Oncoinvent AS.

Independent in relation to the company’s major shareholders, the company and its management.

Nicklas Westerholm

Board Member

Born: 1976

Member of the board since: 2019

Holdings (related parties included): 264,933 shares

Education and experience: Nicklas Westerholm is the CEO of  Egetis Therapeutics AB (publ) since 2017. Before that, he worked within the AstraZeneca Group in a number of global roles in various business areas, most recently as Vice President of Project & Portfolio Management, Cardiovascular and Metabolic Diseases, Global Medicines Development Unit. Prior to that, Nicklas has held positions such as Executive Officer & Vice President Japan Operations and Director Investor Relations. He has studied analytical and organic chemistry at Stockholm University and chemical engineering at the Royal Institute of Technology. He has also studied at the University of Warwick, INSEAD and Harvard Business School.

Other appointments: Chairman of the board and CEO of Rare Thyriod Therapeutics International AB.

Independent in relation to the company’s major shareholders, the company and its management.

Management Team

Mats Hansen

Chief Executive Officer (CEO)

Born: 1971

CEO since: 2015

Holdings (related parties included): 1,158,964 shares

Education and experience: Mats Hansen holds a Ph.D. in plant biochemistry and a Master in biology. He has extensive experience in project management, clinical
development and business development within oncology pharmaceuticals. His prior roles include director of Project Management and Head of Knowledge Management at Active Biotech AB, where he previously also has held various positions within information management, IP and business development.

Other appointments: Member of the board of Ekoscandica Naturguide AB

Hanna Olsson

Chief Financial Officer (CFO)

Born: 1980

CFO since: 2019

Holdings (related parties included): 203,058 shares

Education and experience: Hanna holds an MSc. in Business Administration and has long experience from different roles in auditing, analysis, financial control and business planning, in both small and large national and international groups such as Deloitte, Schneider Electric and most recently from a role as CFO at System Verification.

Other appointments:

Paul Hargreaves

Chief Development Officer (CDO)

Born: 1969

CDO since: 2021

Holdings (related parties included): 180,500 shares

Education and experience: Paul holds both an MSc. in clinical pharmacology and an MBA. He has extensive experience in international drug development across multiple therapeutic areas. His prior roles include Development Team Lead at Pfizer, Vice President Phase I for Quintiles and Global Head of Clinical Operations at LEO Pharma. Most recently he has been working as an independent consultant and CDO.

Other appointments: Member of the board of Proxi Biotech ApS.

Medical Advisors

Michael Hofman

Michael Hofman is a nuclear medicine physician and Professor at the Peter MacCallum Cancer Centre in Melbourne, Australia, where he leads the PET/CT program and the Prostate Cancer Theranostics and Imaging Centre of Excellence (ProSTIC). He is internationally recognized for his expertise in PSMA PET imaging and radioligand therapy, having led multiple phase I-III clinical trials in prostate and other cancers, including large multicentre studies funded by national grants that have driven regulatory approvals, guideline updates, and expanded access to theranostic treatments. Michael serves on key international committees in nuclear medicine and molecular imaging, and has published over 300 peer-reviewed papers.

Sten Nilsson

Sten Nilsson is a specialist and professor emeritus in oncology, as well as a specialist in nuclear medicine. Sten was responsable for the study design and led the early clinical program Xofigo™ (previously Alpharadin™). Sten was previously the chairman of the Swedish Oncology Association (SOF) and the Swedish Association for Nuclear Medicine (SFNM) and member of EANM’s Radionuclide Therapy Task Force. He has published over 200 scientific papers.

Austin Smith

Austin Smith is trained and qualified in Medical Oncology and Pharmaceutical Medicine. He has a solid background in all aspects of oncology and malignant hematology, along with regulatory science experience across Europe, the US and Asia-Pacific regions, acting in senior and executive positions in biopharma companies. Austin is also a member of the Expert Group for Oncology, representing the Faculty of Pharmaceutical Medicine in the UK.

Kristian Pietras

Kristian Pietras is a professor in Molecular Medicine at Lund University, specializing in translational cancer research as a hub between basic science, clinical science and the pharmaceutical industry. Kristian has made important contributions in defining tumors as communicating organs comprising multiple cell types that collectively sustain cancer progression. He has received numerous awards for his research. Kristian has been a member and chairman of the Young Academy of Sweden, and is an elected member of the Royal Physiographic Society. He has published over 100 research articles and patents.

Corporate Governance

Corporate governance within Spago Nanomedical is based on applicable laws, rules and recommendations, such as the Swedish Companies Act (2005:551), the Annual Accounts Act (1995:1554), Nasdaq First North Growth market's regulations and Spago Nanomedical's articles of association and internal rules and guidelines. As Spago Nanomedical's share is not admitted to trading on a regulated market, the company is not obliged to apply the Swedish Code of Corporate Governance (the Code) but has adapted to the Code in parts where the Code is deemed to be relevant to Spago Nanomedical and its shareholders.

BOLAGSORDNING FÖR SPAGO NANOMEDICAL AB (PUBL), Org. nr. 556574­5048

 

§ 1      Företagsnamn

Bolagets företagsnamn skall vara Spago Nanomedical AB. Bolaget är publikt.

 

§ 2      Styrelsens säte

 Styrelsen skall ha sitt säte i Lund.

 

§ 3      Verksamhet

 Bolaget skall bedriva forskning, utveckling, tillverkning, försäljning och licensiering av substanser som används för tillverkning av läkemedel, kontrastmedel och medicinsk utrustning samt därmed sammanhängande verksamhet.

 

§ 4      Aktiekapital

 Aktiekapitalet skall utgöra lägst 3 400 000 kr och högst 13 600 000 kr.

 

§ 5      Antal aktier

 Antalet aktier skall vara lägst 340 000 000 och högst 1 360 000 000 stycken.

 

§ 6      Styrelse

 Styrelsen skall bestå av 3-­7 ledamöter med lägst 0 och högst 7 suppleanter.

 

§ 7      Revisor

 1-2 revisorer med eller utan revisorssuppleant eller ett registrerat revisionsbolag skall utses. Revisors uppdrag gäller till slutet av den årsstämma som hålls under det första, andra, tredje eller fjärde räkenskapsåret efter det senast gjorda revisorsvalet.

 

§ 8      Kallelse till bolagsstämma

 Kallelse till bolagsstämma skall ske genom annonsering i Post­ och Inrikes Tidningar samt på bolagets webbplats. Upplysning om att kallelse har skett skall annonseras i Svenska Dagbladet. Om utgivningen av Svenska Dagbladet skulle upphöra att vara rikstäckande, skall i stället sådan annonsering ske i Dagens Nyheter.

Bolagsstämma kan hållas i Stockholm förutom på den ort där styrelsen har sitt säte.

 

§ 9      Anmälan om, samt rätt till deltagande i bolagsstämma

 Aktieägare som vill delta i bolagsstämma skall göra en anmälan till bolaget senast den dag som anges i kallelsen till stämman.

 

§ 10   Årsstämma

 Årsstämma hålls årligen inom sex månader efter räkenskapsårets utgång.

På årsstämman skall följande ärenden förekomma:

  •  Val av ordförande vid stämman;
  • Upprättande och godkännande av röstlängd;
  • Val av en eller två justeringsmän;
  • Godkännande av dagordning;
  • Prövning av om stämman blivit behörigen sammankallad;
  • Framläggande av årsredovisning och revisionsberättelse, samt, i förekommande fall, koncernredovisning och koncernrevisionsberättelse;
  • Beslut om:
    1. fastställande av resultaträkning och balansräkning, samt, i förekommande fall, koncernresultaträkning och koncernbalansräkning,
    2. dispositioner av bolagets resultat enligt den fastställda balansräkningen,
    3. ansvarsfrihet åt styrelseledamöter och verkställande direktör.
  • Fastställande av styrelse­ och, i förekommande fall, revisorsarvoden
  • Val av styrelse och, i förekommande fall, revisionsbolag eller revisorer samt eventuella revisorssuppleanter
  • Annat ärende, som ankommer på stämman enligt aktiebolagslagen (2005:551) eller bolagsordningen.

 

§ 11   Fullmaktsinsamling och poströstning

Styrelsen får samla in fullmakter enligt det förfarande som anges i 7 kap. 4 § andra stycket aktiebolagslagen (2005:551).

Styrelsen får inför en bolagsstämma besluta att aktieägarna ska kunna utöva sin rösträtt per post före bolagsstämman.

 

§ 12   Räkenskapsår

 Kalenderår skall vara bolagets räkenskapsår.

 

§ 13   Avstämningsförbehåll

 Den aktieägare eller förvaltare som på avstämningsdagen är införd i aktieboken och antecknad i ett avstämningsregister enligt lagen (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument eller den som är antecknad på avstämningskonto enligt 4 kap. 18 § första stycket 6­8 nämnda lag skall antas vara behörig att utöva de rättigheter som följer av 4 kap. 39 § aktiebolagslagen (2005:551).

                                    _

Antagen vid årsstämman den 14 maj 2025

2025

2025 Kommuniké från årsstämma
2025 Bulletin from the Annual General
2025 Kallelse till årsstämma
2025 Notice to Annual General Meeting
2025 Anmälan och formulär för poströstning
2025 Form for notification of participation and postal voting
Spago – Fullmaktsformulär mall

2024

2024 Kommuniké från årsstämma
2024 Kallelse till årsstämma
2024 Notice to Annual General Meeting
2024 Anmälan och formulär för poströstning
2024 Notification and postal voting form

2023

EGM
2023 Kommuniké från extra bolagsstämma
2023 Kallelse till extra bolagsstämma
2023 Notice to Extra General Meeting
2023 Bilaga 1 – Villkor för teckningsoptioner av serie TO12 avseende nyteckning av aktier
2023 Anmälan och formulär för poströstning
2023 Notification and postal voting form

AGM
2023 Kommuniké från årsstämman
2023 Kallelse till årsstämma
2023 Förslag till ny bolagsordning
2023 Anmälan och formulär för poströstning
2023 Form for notification of participation and postal voting

2022

2022 Kommuniké från årsstämman
2022 Kallelse till årsstämma
2022 Förslag till ny bolagsordning

2021

2021 Kommuniké från årsstämma
2021 Kallelse till årsstämma
2021 Poströstningsformulär inför årsstämma
2021 Förslag till ny bolagsordning
2021 Kommuniké från extra bolagsstämma

2020

2020 Kallelse till extra bolagsstämma (jan 2021)
2020 Poströstningsformulär inför extra bolagsstämma (jan 2021)
2020 Kommuniké från årsstämma
2020 Kallelse till årsstämma
2020 Förslag till ny bolagsordning
2020 Poströstningsformulär inför årsstämman
2020 Kommuniké från extra bolagsstämma
2020 Kallelse till extra bolagsstämma (apr 2020)

2019

2019 Kommuniké från extra bolagsstämma
2019 Kallelse till extra bolagsstämma
2019 Kommuniké från årsstämma
2019 Kallelse till årsstämma

2018

2018 Kommuniké från årsstämma
2018 Kallelse till årsstämma

2017

2017 Kommuniké från extra bolagsstämma
2017 Kallelse till extra bolagsstämma
2017 Kommuniké från årsstämma
2017 Kallelse till årsstämma

2016

2016 Kommuniké från årsstämma
2016 Kallelse till årsstämma

 

The nomination committee for the 2025 AGM has been established based on the largest owners as of September 30, 2024, who wish to participate in the nomination committee. The nomination committee has the following composition:

  • Peter Lindell, represents Cidro Förvaltning AB and own holding, chairman of the Nomination Committee
  • Mikael Lönn, represents own holding
  • Eva Redhe, represents own holding

The nomination committee’s tasks are, among other things, to submit proposals to the AGM for the chairman of the AGM, election of chairman and other members of the board of directors, as well as remuneration to each of the board members. The nomination committee shall also submit proposals for the election and remuneration of auditors.

Shareholders who wish to submit proposals to the nomination committee are welcome to send them by e-mail to valberedning2025@spagonanomedical.se. Proposals shall be submitted no later than January 31, 2025.

Instructions to the nomination committee

The company’s auditor is appointed by the Annual General Meeting. At the Annual General Meeting 2025, the auditing firm BDO Mälardalen AB was re-elected as auditor for a term of one year.

Jörgen Lövgren is the auditor in charge.

Career

The future of Spago Nanomedical is dependent on the know-how, creativity and skills of its employees. The company has an informal and flexible working environment offering employees good possibilities to professional and personal development.

Are you interested in working with us, please submit the below form.

    By registering your personal data, you agree that Spago Nanomedical saves this. Spago Nanomedical will handle the data according to current Data Protection Regulation (GDPR). We protect your privacy and do not give your personal data to any external part. If you want further information about how your personal data is processed or want to delete your personal data from our system, please contact us: Personal Data Manager, Spago Nanomedical AB (publ), Scheelevägen 22, 223 63 Lund Sweden E-mail: info@spagonanomedical.

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