Optimizing Cancer Diagnostics and Treatment

Spago Nanomedical AB (publ) is a Swedish nanomedicine company in clinical development phase, developing products for diagnostics and treatment of life-threatening diseases.

More Accurate Diagnosis and Treatments

The company’s operations are focused on the development of SpagoPix, a cancer-selective contrast agent for magnetic resonance imaging (MRI), and Tumorad® for radiopharmaceutical therapy of cancer. Both projects are built on a patented platform of polymeric materials with unique properties that enable more accurate diagnosis and treatment of solid tumors. SpagoPix and Tumorad® utilize the scientifically well-established EPR (Enhanced Permeability and Retention)-effect, which means that particles of a certain size will accumulate selectively in cancer tissue.

The SpagoPix project aims to launch a ground-breaking gadolinium-free MRI contrast agent for visualization of tumors and metastases. Unlike the conventional low molecular-weight MRI contrast agents, which enhance healthy tissue as well as tumor 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. The Tumorad® project aims to develop a novel therapeutic radiopharmaceutical targeting solid tumors based on nanoparticles loaded with radioactive isotopes. The design of Tumorad® makes 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.

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.

Board of Directors

Eugen Steiner

Chairman of the Board

Born: 1954

Member of the board since: 2019

Holdings (related parties included): 112,500 shares, 60,000 warrants in program TO10

Education and experience: Eugen is a medical doctor and a specialist in Clinical pharmacology, holding a Ph.D. from Karolinska Institutet. Eugen has over 30 years of experience from CEO and board assignments within several Swedish, Norwegian, English and American life-science companies in various development phases. He has been a venture partner in HealthCap since 1997.

Other appointments: Chairman of the Board of Empros Pharma AB. Board member of BioArctic AB, Apotek Produktion & Laboratorier AB, Inbox Capital AB, Inbox Intressenter 1 AB, Inbox Intressenter 2 AB, Inbox Intressenter 3 AB, Karolinska Institutet Holding AB and Stockholm School of Entrepreneurship. Deputy board member of Doctrin AB. Owner, board member and CEO of Setraco AB.

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

Peter Leander

Board Member

Born: 1957

Member of the board since: 2012

Holdings (related parties included):

Education and experience: Peter Leander is an associate professor and specialist in medical radiology. He is Head of Radiology at the Peritus Clinic and has conducted research on contrast agents for MRI and CT. Peter has extensive experience in radiology, including many years of experience as radiologist in Malmö as well as Regional Chief Radiology Officer in the Skåne Region, and is a member of the Swedish Society of Radiology (SMFR), and chairman of the Swedish contrast agent group within SMFR.

Other appointments: Member of the board of Lument AB.

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

Sten Nilsson

Board Member

Born: 1948

Member of the board since: 2013

Holdings (related parties included): 18,324 shares.

Education and experience: 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 articles.

Other appointments: Board member of Dextech Medical AB and PhledPharma AB (publ) , owner and member of the board of DETRUSOR AB. Co-founder of Micropos Medical AB (publ) and board member and chairman of Rehnman & Partners Asset Management AB’s scientific advicery board.

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

Kari Grønås

Board Member

Born: 1965

Member of the board since: 2018

Holdings (related parties included): 20,000 warrants in program TO10

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: Kari is a consultant for start-up companies in the pharmaceutical and biotech industry. Owner and CEO of K og K AS, owner and board member of Ultimovacs ASA, board member of Arxx AS and owner of Oncopeptides AB.

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): 3,675 shares, 4,000 warrants in program TO10

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, CEO and board member 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

Employee since: 2015

Holdings (related parties included): 49,122 shares, 60,000 warrants in program TO11

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

Oskar Axelsson

VP and Chief Scientific Officer (CSO)

Born: 1962

Employee since: 2007

Holdings (related parties included): 69,922 shares, 129,031 warrants in program TO8

Education and experience: Oskar Axelsson holds a Ph.D. in organic chemistry and has extensive experience primarily from contrast agent research at Nycomed Innovation, Amersham, GE Healthcare and other companies. Oskar is leading the research department of Spago Nanomedical and is responsible for the Company’s patent issues. He has participated in over 50 patent applications and co-authored several scientific publications.

Other appointments:

Hanna Olsson

Chief Financial Officer (CFO)

Born: 1980

Employee since: 2019

Holdings (related parties included): 12,500 shares, 25,000 warrants in program TO11

Education and experience: Hanna holds a Master 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:

Tove Sivik Sonne

Head of Development

Born: 1980

Employee since: 2013

Holdings (related parties included): 20,000 warrants in program TO11 and 5 000 in program TO8

Education and experience: Tove Sivik Sonne holds a Master in biomedicine, and a Ph.D. in oncology from Linköping University. Tove has over six years of industrial experience from both preclinical and clinical development work. Tove is the head of the company’s development department.

Other appointments: –

Medical Advisors

Sophia Zackrisson

Sofia Zackrisson is a professor of diagnostic radiology at Lund University and senior physician at Skåne University Hospital. Sophia’s work aims to develop new methods for better breast cancer screening and advanced technology for detection of tumors, obtaining a more accurate diagnosis. Dr. Zackrisson was recently named Cancer Researcher of the Year 2020 by the Swedish Cancer Society.

Per Hall

Per Hall is Professor at the Department of Medical Epidemiology and Biostatistics at Karolinska Institutet and Senior physician at the Department of Oncology at Södersjukhuset, Stockholm. Dr Hall has a long experience in clinical cancer research and randomized controlled trials. He has coordinated six research projects funded by the EU and three research projects funded by NIH.

Timothy Roberts

Timothy Roberts is Professor of Radiology and Vice-chair of Research at the Department of Radiology at the Perelman School of Medicine, University of Pennsylvania, where he also holds the Oberkircher Family Endowed Chair in Pediatric Radiology. Prof. Roberts’s research is focused on translational development of medical imaging technologies.


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

Are you interested in working with us or want to explore the possibilities for Degree Projects (primarily within chemical synthesis, analysis and simulation of nanomaterials, but also biologically oriented projects involving cell culture and immunochemistry), please submit the below form.

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