Scandinavian Biopharma is pleased to announce another year of significant growth. For the full year 2023, the revenue increased by over 33 MSEK, corresponding an organic growth of 27%. The total revenue for 2023 amounted to 154 MSEK.
It is with great pleasure that we present another really good year of growth. The figures for the full year 2022 add up to an increase in sales equivalent to 30% in organic growth. In total, sales amount to approximately SEK 122 million. Our ETEC vaccine candidate, ETVAX, is about to enter phase 3.
In 2020, Scandinavian Biopharma entered into an agreement with USAMMDA to fund manufacturing and development activities for its ETEC diarrhoea vaccine, ETVAX®. The agreement has now been extended, providing additional financial support. The objective is to accelerate the development and approval of the vaccine in the United States.
2021 was another successful year for Scandinavian Biopharma. The company took important steps in the development of the ETEC vaccine candidate and the distribution business set a new sales record by reaching SEK 93.8 million. The company continued to grow organizationally and expanded the team in both production, QC and QA, this expansion in turn required the business to expand its office space.
We are expanding the business so much that we need larger premises. During the pandemic, the company has hired many new employees in research, clinical development, registration, manufacturing and sales. The space is specially adapted for Scandinavian Biopharma's operations and has a tailor-made, state of the art laboratory with a process development unit as well as a modern meeting place.
An improved user-friendly formulation of the world's most advanced ETEC vaccine candidate, ETVAX®, has been developed to meet commercial requirements. We want to ensure that the new formulation gives rise to immune responses that are non-inferior (i.e. not worse) to the previous formulation of the vaccine that underwent earlier testing. This is done in a phase II double-blinded, randomized study.
The Vaccines Against Shigella and ETEC (VASE) Conference, on September 28 & 30, will provide key updates on vaccines being developed for Shigella, ETEC, and other emerging diarrheal pathogens. 2 of the 18 presentations at VASE is highlighting our ETEC vaccine candidate ETVAX®.
Welcome Fernanda, to our team at Scandinavian Biopharma.
We are pleased to welcome Günes Uysal to our team at Scandinavian Biopharma.
The year we have left behind us has been different in many ways. Despite the major impact the pandemic had on operations in 2020, Scandinavian Biopharma reports largely unchanged revenue for the distribution operations and important progress has been made in the development of the ETEC vaccine candidate ETVAX®.
The documentary, People We Come Across follows Scandinavian Biopharma’s vaccine study in Benin where more than 700 Finnish tourists travelled on a holiday as research volunteers. The documentary describes the interactions between the inhabitants of the fishing village of Grand Popo and the Finnish participants.
We are proud to announce that all participants have now received the third and final vaccination dose in our Phase 1 trial in Zambia. The completion of the enrolment in the Zambian study is another important milestone towards making a vaccine available for children in low- and middle-income countries. An ETEC-vaccine is prioritized by WHO.
Vi utvecklar det första vaccinet i världen mot diarré orsakad av ETEC för att skydda både barn och vuxna i endemiska länder och resenärer till högriskdestinationer.
Vi distribuerar ett brett sortiment av biologiska specialistläkemedel med fokus på vacciner och immunglobuliner.
www.scandinavianbiopharma.se
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