NANOFHNasdaq HelsinkiBiotechnologyIFRS · EUR

Nanoform Finland Oyj

Nanoform Finland is a Finnish company specializing in nanotechnology and pharmaceutical particle engineering services. The company operates in the global pharmaceutical industry, providing expert services to enhance the bioavailability of active pharmaceutical ingredients (APIs). Nanoform's technology platform aims to address the low bioavailability of APIs, which is a significant barrier to drug approval. The company collaborates with international pharmaceutical and biotechnology companies to develop next-generation drug formulations.

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Revenue2.8m EUR
+8.3 %y/y
Operating profit (EBIT)-24.2m EUR
−7.8 %y/y
EBIT margin-872.4%
+3.5 ppy/y
Net income-23.4m EUR
−12.9 %y/y

Fiscal year 2024 · change from previous year

Development 2021–2024

-30-20-10010m EUR2021: 2.0 m EUR2021: EBIT -20 m EUR20212022: 3.5 m EUR2022: EBIT -21 m EUR20222023: 2.6 m EUR2023: EBIT -22 m EUR20232024: 2.8 m EUR2024: EBIT -24 m EUR20242.8-24
RevenueOperating profit (EBIT)
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Business

Share of revenue
Nanoparticle Engineering40 %

Services to enhance API bioavailability using nanotechnology.

Pharmaceutical Particle Technology30 %

Development of drug formulations using advanced particle technology.

GMP Research Services20 %

Good Manufacturing Practice compliant research services for drug development.

Non-GMP Research Services10 %

Research services not requiring GMP compliance for early-stage development.

Customers

Nanoform's customers primarily include international pharmaceutical and biotechnology companies seeking to improve drug formulations. These clients are interested in enhancing the bioavailability of their APIs to increase the likelihood of regulatory approval. The company also serves contract research organizations that require specialized nanotechnology expertise for clinical trials. Nanoform's services are particularly valuable for companies developing treatments for conditions with low drug absorption rates.

Pharmaceutical Companies

Purchase nanoparticle engineering services to improve drug formulations.

Biotechnology Firms

Use particle technology to enhance bioavailability of APIs.

Contract Research Organizations

Require GMP and non-GMP services for clinical trials.

Strategy

Nanoform's strategic priorities include expanding its nanotechnology platform to address the low bioavailability of APIs. The company aims to commercialize its formulations for next-generation drugs and invest in GMP-level facilities to support clinical trials. Nanoform seeks to establish partnerships with leading pharmaceutical companies to broaden its market reach. The company is also focused on enhancing its operational efficiency and cost structure to improve profitability.

Expand Nanotechnology PlatformMedium term

To improve API bioavailability and increase drug approval rates.

Commercialize FormulationsLong term

To generate revenue from next-generation drug formulations.

Invest in GMP FacilitiesShort term

To support clinical trials and ensure compliance with regulatory standards.

Geography

Nanoform is headquartered in Finland and operates globally, serving clients in the pharmaceutical and biotechnology industries. The company's production and research activities are based in Finland, where it develops and tests its nanotechnology solutions. While the company has a strong presence in the Nordic region, it collaborates with international clients, including those in North America and Europe. This geographic diversity helps Nanoform mitigate risks associated with regional market fluctuations.

Risks

Nanoform faces several business and financial risks, including the challenge of proving the efficacy of its nanotechnology solutions in a highly regulated pharmaceutical industry. The company's early-stage growth status means it may struggle with managing growth effectively. Additionally, Nanoform is exposed to currency risks due to its international operations and financial transactions in multiple currencies. The conservative nature of the pharmaceutical market poses a risk to the adoption of new technologies, which may delay commercialization efforts.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Proving Nanotechnology Efficacy1Technology Adoption3Growth Management2Currency Risks4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Proving Nanotechnology EfficacyImpact: CriticalLikelihood: Medium

    Regulatory requirements in the pharmaceutical industry are stringent.

  2. Growth ManagementImpact: HighLikelihood: High

    The company is in an early growth stage and may face operational challenges.

  3. Technology AdoptionImpact: HighLikelihood: Medium

    Pharmaceutical market's conservative nature may slow down new technology adoption.

  4. Currency RisksImpact: MediumLikelihood: Medium

    International operations expose the company to currency fluctuations.

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Accounting

Judgemental items
Revenue Recognition

Involves multiple performance obligations from customer contracts.

Currency Fluctuations

Affects financial results due to international operations.

Capital Expenditure

Investment in facilities impacts cash flow and financial position.

Fair Value Estimation

Challenges in estimating technology asset values affect impairment assessments.

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Last updated: 24/09/2026