Lipum AB (publ) has published the Q4 interim and year-end report for 2025. Below is a summary, a complete report (only in Swedish) is available on the company's website.
Financial summary January - December 2025
- Other operating income: 1 929 KSEK (911)
- Result after financial items: -71 526 KSEK (-55 516)
- Cash and cash equivalents as of June 30: 1 554 KSEK (6 632)
Significant events during the period October-December 2025
- Lipum presents new topline data supporting BSSL's role in rheumatoid arthritis
- Flerie and Lipum have agreed on a merger plan.
- Lipum holds an Extraordinary General Meeting and announces the outcome of a directed share issue.
Significant events after the period
- Lipum has applied for the delisting of the company's shares from Nasdaq First North, conditional upon completion of the merger with Flerie.
- Nasdaq Stockholm has approved Lipum's delisting application.
CEO Ola Sandborgh comments - The pieces are falling into place
2025 was a year marked by several important milestones for Lipum. Our Phase 1 study with SOL-116 was successfully completed and demonstrated positive results. The study confirmed that SOL-116 has a favorable safety profile, high tolerability, and predictable pharmacokinetics, supporting a dosing regimen of once-monthly administration. The exploratory analyses further showed that SOL-116 effectively eliminates BSSL from the circulatory system in both healthy volunteers and patients with rheumatoid arthritis (RA).
These results represent a significant milestone in the development of SOL-116 as a potential treatment for chronic inflammatory diseases with a novel mechanism of action. At the same time, they lay the foundation for the next step in the development program: a Phase 2 study in which we intend to evaluate the treatment effect of SOL-116 in patients with moderate to severe rheumatoid arthritis.
To initiate this study, financing must be secured for the entire period through its completion. Securing this funding has been a central focus throughout 2025. It has been a demanding process, not least given the challenging macroeconomic environment. With valuable support from our major shareholders Flerie Invest, Crafoordska stiftelsen, and Christian von Koenigsegg, we obtained bridge financing that enabled continued progress while awaiting a long-term solution.
During the year, several alternative financing routes were evaluated. When Flerie presented an innovative financial solution at a challenging time for us, several pieces fell into place. The proposal for a merger, and the assessment that Lipum could develop more effectively in a private environment, created the conditions for a more long-term and stable financing solution to advance SOL-116 toward proof of concept. It was also encouraging that the other major shareholders expressed their support for the merger.
At extraordinary general meetings on December 29, shareholders of both Lipum and Flerie approved the proposed merger plan. A decisive piece of the puzzle was thus put in place, enabling us to initiate the formal merger process and apply for the delisting of the Lipum share.
With these conditions now in place, we can fully focus on the next stage of the company's development. Our ambition is clear: to initiate the Phase 2 study and continue building clinical evidence that can create significant value and provide strong conditions for establishing a partnership that can bring SOL-116 closer to patients.
I am convinced that this provides the best possible conditions to realize the potential of SOL-116 and, in the long term, to offer a new treatment option for patients with chronic inflammatory diseases.
I would like to extend my sincere thanks to our shareholders, partners, and employees for your commitment and trust. Now we set our sights on the next step in our exciting journey.
Ola Sandborgh, CEO
The complete report (only in Swedish) is available at www.lipum.se
Contacts
Ola Sandborgh, CEO
ola.sandborgh@lipum.se
+46 72 218 80 21
Web: www.lipum.se
About Us
Lipum AB (publ) is a clinical stage biopharmaceutical company specialized in discovery and development of a novel treatment for chronic inflammatory diseases. The lead candidate SOL-116 is a humanized antibody designed to provide efficacious therapy by blocking a previously overlooked target molecule of the immune system (BSSL). SOL-116 is in clinical phase with a successfully completed Phase 1 study. Together with strong preclinical data, we have a solid foundation for continued development in the treatment of rheumatoid arthritis. Lipum also explores other inflammatory diseases with a high unmet medical need. The company is based in Umeå, an excellent life science cluster in Sweden. Lipum's unique approach has attracted international attention, including a major European Commission Horizon 2020 grant. The company's share (LIPUM) is traded on the Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission.
