An innovative drug delivery platform for the benefit of patients and pharma company

LIDDS AB (publ) develops injectable drugs for cancer and other diseases based on our unique proprietary NanoZolid® technology. NanoZolid® helps solve some of the main problems with the way drugs work in the body and which affect patient quality of life. NanoZolid® enables the controlled, long-term and personalized release of drugs for up to six months. NanoZolid® can be combined with traditional small molecules as well as with larger molecules.

LIDDS has a broad range of projects where NanoZolid® is combined with cytotoxic drugs used in the treatment of cancer as well as projects in the fast-growing area of immuno-oncology. LIDDS most advanced project is Liproca® Depot, a product for local treatment of prostate cancer.

LIDDS also offers the pharmaceutical industry access to NanoZolid for their drug development projects through licensing agreements. LIDDS recently concluded a licensing agreement in China and has a number of other agreements in place. The development of these projects is subject to the research and business priorities of the licensees.

Industrial scale manufacturing is undertaken in collaboration with Recipharm. LIDDS has other development projects where NanoZolid® is combined with pharmaceutical substances, for example cytostatics and immunological drugs.

LIDDS was founded by scientists and entrepreneurs at Uppsala University, University of Gothenburg and the life science incubator PULS AB. LIDDS shares are traded on Nasdaq Stockholm First North.

Improving quality of life for patients

A key challenge in all drug development is to balance effect and safety. An effective treatment will always bring a certain risk of side-effects. Not only does this cause the patient discomfort, but in order to keep the side-effects at a manageable level it may be necessary to limit the dose of the drug to a level where it may not be as effective as desired. NanoZolid® offers a solution to this dilemma with the controlled and personalized release of active drugs, resulting in fewer side effects and less frequent injections.

Systemic treatment of severe diseases such as cancer means that very potent substances will affect several organs, not just the site of the tumor. Large parts of the body are exposed to the effects and side effects of the drug. This limits the dose and adversely affects the patient’s quality of life. LIDDS NanoZolid® technology allows the local treatment of cancer and other diseases without the serious side effects that occur with systemic treatments.

NanoZolid® controlled drug release can also be used for the treatment of systemic diseases where it is administered subcutaneously resulting in fewer treatments, increased patient compliance and reduced healthcare costs.



CEO Comment – Preparing to Reap Future Growth Opportunities


We are now in the midst of the traditional summer vacation in Sweden, and it has been a hectic first half year for the company. Ever since joining LIDDS in the second half of April I have engaged myself in all the different tasks ahead of us with great excitement. There are three main reasons for my eagerness to move LIDDS forward. Firstly, the opportunities that the validated and protected NanoZolid technology offers. Secondly, there is great medical need for the types of treatments that LIDDS is developing. The possibility to be part of generating new and improved drugs that will make a real difference to patients is important and a key driver for me. Last but by no means least, LIDDS is in a very exciting phase. Growth is around the corner as new projects and collaborations are being planned and discussed.

LIDDS has a very focused pipeline with interesting projects with high potential in different stages of development. We have chosen to target several severe oncology indications since we believe that our drug delivery technology NanoZolid is able to solve a number of the challenges observed with current standard treatments. By a sustained and controlled local delivery directly into or close to the tumors our drugs are delivered in a safer, more effective and convenient way as compared to standard treatments. This means less systemic side effects, higher drug exposure in malignant tissue and less frequent drug administrations. LIDDS NanoZolid technology is a very good foundation for building a long-term company and creating a solid platform and portfolio within the company.

Currently, we are in a very constructive work phase where we are optimizing our long-term business strategies, sharpening the value propositions of the projects, strengthening the organization and preparing the company for the planned listing on the Nasdaq main market. An important step in the latter two activities was the previously announced recruitment of our new CFO Jenni Björnulfson. Jenni has extensive experience from listed life science companies as well as investor relations and will be able to contribute positively.

Our projects are progressing according to plans. Briefly, for Liproca Depot we have continuous dialogues with possible partners all in preparation for a global multicenter phase III trial. We are also preparing for an EMA advice to validate the proposed study design and given that this will be our pivotal study it is important to receive input from key regulatory authorities. Regarding NanoZolid-formulated docetaxel (NZ-DTX), the team is working on defining the target patient population and the intended market. Together with the clinical development program being designed, we feel confident that we will have a successful road ahead of us. We are also continuing our preparative work for entering into clinical development with our first immune oncology drug TLR9. Albeit all this work we are also able to move forward our research collaboration with Johnson & Johnson, managing preclinical investigations of combination therapies and evaluating new undisclosed and highly interesting compartments.

I am convinced that my combined background as a PhD in immunology, having an executive MBA from the Stockholm School of Economics and having worked within this industry for more than 20 years, both within small biotech companies and larger global organizations, will be useful in our work with taking the company to the next level. My background enables me to have both a firm comprehension of the science and a good understanding of the commercial side of LIDDS business.

I believe that my broad understanding of what is required for developing and bringing pharmaceutical products to the market together with my commitment and focus will in combination with the skills, drive and enthusiasm of my colleagues make us able to deliver important milestones and increased shareholder value in the times to come.

Thank you for your continued support of LIDDS!

Nina Herne
July 16. 2021


LIDDS enables new treatments and revitalizes existing products

LIDDS business strategy is to use the NanoZolid® technology for three purposes: In our own in-house drug development, for out- licensing to other pharmaceutical companies for use in their drug development projects, and as a tool for life cycle management of established medicines. LIDDS business model means that development lead times for NanoZolid® are significantly shorter than for traditional pharmaceutical companies.

In-house drug development

LIDDS objective is to develop pharmaceutical products in combination with NanoZolid® that are as effective as the original compounds but with fewer side effects. We aim to out-license our projects to pharmaceutical companies after the pre-clinical phases or phase I or II, subject to indications. Our most advanced project, Liproca® Depot for the treatment of prostate cancer, is currently in a Phase IIb clinical trial. LIDDS has concluded a licensing and development agreement in China for Liproca® Depot.

LIDDS has ongoing preclinical projects for cytotoxic drugs and local immunotherapy. There are also a number of other areas where the unique NanoZolid® technology can bring great benefits, including inflammatory diseases and other areas where patient compliance and convenience are drivers.

Collaborative drug development

LIDDS offers pharmaceutical companies access to NanoZolid® for their drug development projects through licensing agreements. Under these licensing agreements, LIDDS provides the NanoZolid®-based formulation for further development by our partner. The continued development of these projects is subject to the research and business priorities of the licensees.

Rejuvenating established products

With NanoZolid®, LIDDS also offers a patented solution that addresses life cycle management in the pharmaceutical industry. NanoZolid® can be used to reformulate drugs that require improvement or prolonged patent protection.

LIDDS enables new treatments and revitalizes existing products

LIDDS develops new and unique solutions to address common problems related to drugs, in particular the devastating side effects and frequent treatments that are required with pills or injections.

The NanoZolid® technology has been validated with clinical results in Phase II studies and can be used in combination with many different types of pharmaceutical molecules. As a result, our research pipeline in is broad, targeting several cancer and tumor types using both new and well-established drugs, as well as the treatment of systemic diseases where convenience and patient compliance are drivers.

LIDDS plans to out-license projects to pharmaceutical companies after the pre-clinical phases or phase I or II, subject to indications. The Liproca® Depot prostate cancer project is planned to be out-licensed after phase II whereas other projects such as solid tumor treatment with cytotoxic drugs is typically a phase I opportunity.

Following the successful pre-clinical study in immuno-oncology using a STING-agonist, LIDDS is looking to out-license NanoZolid® for this purpose as early as possible, subject to research results.

LIDDS expects a license agreement to include upfront payment, milestone payments and royalty.

Partnering with Recipharm, the GMP manufacturing process is validated in industrial scale for our prostate cancer product, Liproca® Depot.

Board directors and auditors

Jan Törnell
Chairman of the Board since 2015

Born 1960. 15 years of experience in executive roles in the pharmaceutical industry in various countries. Professor with medical background. CEO of Oncorena AB and AB Innoext. Former Vice President of Global Strategy for AstraZeneca Oncology & Infection. Professor of Physiology at the Sahlgrenska Academy, University of Gothenburg. Chairman of Glactone Pharma AB and board member of Diaprost AB. Partners in P.U.L.S. and member of the investment committee.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 47 909 shares, 0 warrants

Daniel Lifveredson
Board member since 2017

Born 1976. Master of Science in Engineering, Industrial Economy, Chalmers tekniska högskola in Gothenburg. CEO and owner of Excore AB, specialized in counseling in connection with corporate transactions in the segment of medium-sized companies. Long experience in international business. Daniel Lifveredson is engaged as a partner in several companies.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 2 640 929 shares, 0 warrants

IngaLill Forslund Larsson
Board member since 2015
Audit Committee member since 2021

Born 1954. Economist with specialization in Marketing from the University of Uppsala. Leg. Midwife. Many years of sales and marketing responsibility in the pharmaceutical industry, including business responsibility for Urology, Global Marketing at Ferring Pharmaceuticals. Has held several commercial roles at AstraZeneca, among other things, responsible for a number of product launches. Senior Consultant at Lisberg Executive Search and Boyden International. CEO of a private real estate and consulting company. Board experience from several life science companies.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 11 249 shares, 0 warrants

Maria Forss
Board member since 2015
Audit Committee member since 2021

Born 1972. Master’s degree in Economics from the School of Business, Economics and Law and Concordia University, Montreal. Active at the Swedish listed company Vitrolife since 2012, currently in the role as Vice President Consumables and Site Manager for two operation sites. Maria Forss – Audit Committee member since 2021 has for more than 20 years worked with product development, business development,  marketing of pharmaceutical products in global roles at AstraZeneca, as well as in the virtual company DuoCort, where she as CEO and project managers had been instructed to take a new drug from clinical trials to regulatory approval and sales of the company. She has experience in product development of medicines from early phase to commercialization, and from several board positions in the pharmaceutical and medical technology companies.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 26 186 shares, 0 warrants

Anders Bjartell
Board member since 2015

Born 1959. Professor and chief of urology at Skåne University Hospital since 2006. PhD in Medical cell research. European specialist degree in Urology. Visiting investigator at Memorial Sloan-Kettering Cancer Center in New York, 2005-2007. Associate Editor of European Urology, 2005-2012. Responsible for clinical trials in prostate cancer at the urology clinic SUS Malmö since 2007. National Principal Investigator for several new drugs for prostate cancer in recent years. Research group leader for urological cancer research at the Institute for Translational Medicine at Lund University. Published over 200 original scientific articles. H-index 39. Have experience in board work in European Urology, foundations and life science.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 13 724 shares, 0 warrants

David Bejker
Board member since 2019
Chairman of the Audit Committee since 2021

Born 1975. MSc from the Stockholm School of Economics. David Bejker is the CEO of listed company Affibody Medical AB, a company that develops innovative protein drugs, since 2008. David Bejker has extensive industry experience both from an investor’s point of view, through employment within HealthCap, and operating as a business developer of Affibody AB in the years 2003 to 2005. David Bejker – Chairman of the Audit Committee since 2021 has been CEO of Affibody during a period when the company successfully became a financially strong biotechnology pharmaceutical company with projects in clinical development as well as a large number of global licensing and collaboration business. Affibody has under his leadership also secured large research grants from EU, NCI and Vinnova.

Independent in relation to LIDDS AB (publ), its management and the principal shareholders.

Holdings: 5 624 shares, 0 warrants

Öhrlings PricewaterhouseCoopers AB

Visiting address: Klostergatan 9

Box 179

751 04 Uppsala

Telephone: 010 – 212 61 60

Team members

Nina Herne

Ph.D. in Immunology and an Executive MBA from Stockholm School of Economics. Several senior positions in global pharmaceutical companies, most recently at Chiesi Group. Extensive experience from R&D, operations, business development and licensing, strategy development and international stakeholder management from smaller organizations like Zymenex (Managing Director for Sweden and Denmark) and NeuroNova, as well as larger companies like Chiesi, SOBI and NovoZymes (NovoNordisk). Born 1969. Nina has worked at LIDDS since 2021.

Holdings: 0 shares, 100 000 warrants

Jenni Björnulfson
CFO and Head of IR

Sc. in Finance and Managerial economics from Stockholm School of Economics and studies at the Karolinska Institute.Extensive financial and industrial background working for many years within the health care sector. Previous positions include being CFO for Promore Pharma and Cinclus Pharma Holding. Prior to that Jenni worked as an equities analyst at ABG Sundal Collier and she has held corporate finance positions at Alfred Berg and Handelsbanken.Other Assignments: Board director in Hemcheck Sweden AB (publ), listed on Nasdaq First North Growth Market. 

Born 1971. Jenni has worked at LIDDS since 2021.

Holdings: 0 shares, 35,000 warrants

Stefan Grudén
Head of CMC

Pharmacists, M.Sc. Pharm., From Uppsala University. 17 years experience in pharmaceutical research and development, including 15 years in senior services and Pharmacy Manager both Galenica AB, Malmö and Orexo AB, Uppsala, Sweden. Participated in the development of over 50 projects, of which more than a third have been upscaled to production scale and currently on the market as commercial products. Have a vast experience in solid and semi-solid drug delivery technologies. He comes from a position as Innovation Coordinator of Orexo AB. Born 1972. Stefan has worked at LIDDS since 2014.

Holdings: 562 shares, 5 000 warrants

Niklas Axén
Technical Lead

M.Sc. Engineering Physics at Uppsala University, PhD and Associate Professor of Materials Science at Uppsala University. Niklas Axen has previously worked in product development at De Beers and Hemapure, and has been in charge of R & D including Cerbio AB, Doxa AB and AB OrtoWay. Born 1963. Niklas has worked at LIDDS since 2003.

Holdings: 56 249 shares, 5 000 warrants

Charlotta Gauffin
Head of Clinical Operations

Master of Science M.Sc. and Ph.D. in organic chemistry from Uppsala University. About 20 years of experience in the pharmaceutical industry, within research and clinical development. Has held senior clinical project management positions at Quintiles and Q-Med/Galderma, with experience from a range of indications within drug and medical devicedevelopment. Born 1971. Charlotta has worked at LIDDS since 2019.

Holdings: 0 shares, 1 000 warrants

Erwin Brenndörfer
Head of Preclinical

M.Sc. in biochemistry from Tübingen University, Ph.D. from Düsseldorf University. 15 years of experience in both immunology and oncology research and development from the pharmaceutical industry and academia. Has held positions as project leader at Medivir and the Karolinska Institute and has an extensive experience in preclinical drug development, in vivo pharmacology, and project management. Born 1977. Erwin has worked at LIDDS since 2019.

Holdings: 0 shares, 0 warrants