Nanoform Finland Plc is a listed company at Nasdaq First North Premier in Helsinki and Stockholm (IFRS accounting standards). Nanoform works to improve the lives of patients globally by applying game-changing nanotechnologies and novel formulation services to pharmaceutical manufacturers and thereby overcoming customers’ drug development and delivery challenges (increased bioavailability, higher drug load, higher concentration and improved administration routes).
Company description:
Nanoform’s proprietary drug enabling technology CESS® (Controlled Expansion of Supercritical Solutions) for small molecules (chemical compounds) was discovered in 2012 and Nanoform was founded in 2015. In 2020 Nanoform was listed at Nasdaq First North Premier in Helsinki and Stockholm. In 2025 Nanoform was granted a Commercial cGMP Manufacturing Licence from FIMEA. CESS® is a patented supercritical carbon dioxide process that first dissolves the API (Active Pharmaceutical Ingredient) powder and then creates the particles at the desired nanoparticle size. Smaller particles increase the bioavailability of the medicine and therefore enable new and/or improved medicines.
Nanoform has also developed another proprietary nanoparticle technology, for large molecules (biologics/biologic compounds), and the offering was launched towards the pharmaceutical industry in 2021. Most biologics are liquid solutions and are administered intravenously. With Nanoform’s technology customers can increase the drug load (higher concentration) and enable improved administration routes (from intravenous to subcutaneous, oral and/or inhaled). During this very gentle Nanoforming process the biologic liquid solution gets transformed into dry powder in the form of smaller particles, which also later can be suspended in oil for liquid suspension administration, if so chosen or used for dry powder formulations.
Nanoform generates revenue both from businesses with originators (pharma and biotech companies that own the medicines) and super generics (generic companies that want to enable improved medicines through pharmaceutical innovation). Nanoform’s core strategy is to serve the originators and enable new medicines and improve existing medicines. The pharma industry is conservative and currently Nanoform is discussing with development partners and super generic companies to launch selected IP protected improved versions of existing medicines. Super generic companies are traditionally early and fast movers. Nanoform aims to launch improved medicines also with originators (i.e. not just new). So far Nanoform has enrolled >50 originator customers and started >100 customer projects.
Long term, Nanoform expects its diverse technologies to be utilized in most of the existing therapy areas and Nanoforms’ technologies offer a significantly reduced carbon footprint for the pharmaceutical industry.
The fee model with originators consists of a fixed fee for proof-of-concept projects (€50k-€500k), a fixed fee for delivering Nanoformed material to clinical trials (€500k-€10m) and a royalty fee (1-20%) for delivering Nanoformed medicines for the commercial phase in addition to a commercial supply Price for commercial manufacturing. The fee model with development partners and super generic companies is such that Nanoform first generates a value proposition around a medicine candidate, called ‘Product Kernel’, and generates new IP that Nanoform owns in an R&D phase. When commercial partners get involved Nanoform receives upfront payments, milestones and revenue from Nanoforming the medicine for clinical trials and commercial phase. Current leading Product Kernel/super generic projects are Nanoenzalutamide (small molecule; prostate cancer), Nanoapalutamide (small molecule; prostate cancer), Nanoencorafenib (small molecule; melanoma and colorectal cancer) and Nanotrastuzumab (large molecule; breast and stomach cancer).
Nanoform’s work with originators will lead to Nanoformed medicine candidates succeeding from proof-of-concept stage to clinic (higher fixed fees to Nanoform) and then to market (royalties to Nanoform).
Nanoform’s work with developers and super generic companies on the Product Kernels will in the near- and medium-term lead to several licensing/commercial deals (upfront payments, milestones and royalties). Nanoform aims to have its first Nanoformed drug on the market in Europe in 2028 (Nanoenzalutamide). Currently Nanoform is working on several Product Kernels that target a launch date in the 2028-2035 period.
Nanoform has several patent families covering its manufacturing technologies for the small molecules and large molecules, with granted expiries in 2035-2045. Additionally, Nanoform has several patent families pending around its proprietary nanoformulation platforms and nanoformulated products and this number is growing as more products get developed.
Nanoform operates a state-of-the-art GMP-certified facility in Helsinki, specializing in the production of tuneable nanoparticles with control over size, shape, and polymorphic form. The site runs year-round with shift-based operations and offers tonne-scale capacity. Designed for multi-API production, the facility features automated Clean-in-Place (CIP) and manual Wash-in-Place (WIP) systems to ensure compliance with Maximum Allowable Carryover (MACO) standards. Advanced automation, including recipe-based process control and real-time data capture of critical quality attributes, ensures consistent and repeatable performance. Nanoform is equipped to handle highly potent APIs (HPAPIs) with Occupational Exposure Limits (OEL) as low as 30 ng/m³. The operation is supported by a dedicated, cross-functional team with experience in launching over 100 pharmaceutical products.
At Nanoform’s Capital Markets Day December 16th, 2025, the company announced new business and financial targets for 2030:
- Three Nanoformed medicines launched by 2030,
- Income growth >50% CAGR 2026-2030 and
- EBIT margin >30% in 2030.
Nanoform Investor Relations:
Henri von Haartman, hvh@nanoform.com, +46 768 66 5011