Ultimovacs is developing novel immunotherapies against cancer. Lead product candidate, UV1, is a peptide-based vaccine against the universal cancer antigen telomerase (hTERT), which is expressed by c 85% of all cancer types. UV1 therefore has a broad potential in a variety of different settings and combinations.
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Ultimovacs is a biotechnology company focused on developing a next generation cancer vaccine with virtually universal potential. Lead asset, UV1, activates the immune system to recognise cancer cells that express human telomerase reverse transcriptase (hTERT, or telomerase), which is present in up to 90% of all cancer types. For this reason, UV1 has broad potential in a variety of cancers and in combination with other treatments. Ultimovacs’ R&D strategy is to combine UV1 with checkpoint inhibitors due to an expected treatment synergy. The broad R&D programme includes five Phase II trials in different solid tumours, which will enrol more than 600 patients in total. Readouts are expected over 2023–24, all within cash reach. In H122, the INITIUM Phase II trial in malignant melanoma completed enrolment in June, after the company reported positive two-year survival data from a previous Phase I trial in the same indication.
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EBITDA (NOKm) |
PBT (NOKm) |
EPS (öre) |
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P/CF (x) |
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| 2020A | 0.0 | (121.4) | (120.6) | (398.0) | N/A | N/A |
| 2021A | 0.0 | (161.1) | (164.7) | (509.0) | N/A | N/A |
| 2022E | 0.0 | (212.3) | (213.5) | (624.0) | N/A | N/A |
| 2023E | 0.0 | (216.8) | (219.1) | (640.0) | N/A | N/A |
Industry outlook
Novel drug projects in oncology comprise the lion’s share of total R&D investments in the industry. Around 85% of all cancer types express high levels of hTERT, which means that UV1 has a broad potential in a variety of different settings, including combinations with other cancer treatments.
Last updated on 28/09/2022Content on Ultimovacs
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| Forecast net cash (NOKm) | 346.1 |
| Forecast gearing ratio (%) | N/A |
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Key management |
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| Carlos de Sousa | CEO |
| Hans Vassgård Eid | CFO |
| Gustav Gaudernack | CSO |
| Jens Bjørheim | CMO |
| Ton Berkien | CBO |