Nanologica
Nanologica is a Swedish life-science company that develops and manufactures porous silica materials used in preparative chromatography. Its products are designed for purification steps in pharmaceutical production, especially for peptide drugs such as insulin and GLP-1 therapies, and the company also provides application support and method development.
Fiscal year 2025 · change from previous year
Development 2022–2025
Business
Share of revenuePorous silica materials used in preparative chromatography for pharmaceutical purification.
Complementary purification media for peptide drug separation and polishing steps.
Technical support to help customers evaluate, optimize and implement the media.
Tailored products and process support for specific customer purification workflows.
Customers
Nanologica sells primarily to pharmaceutical companies and contract manufacturers that produce insulin, insulin analogues, GLP-1 analogues, biosimilars and other peptide drugs. These customers buy the company’s silica media because it helps them purify target molecules efficiently at industrial scale and improve manufacturing workflows. The sales process is technical and evaluation-driven, with customers typically testing the material before moving toward larger production use.
Buy purification media for insulin, GLP-1 and other peptide-drug production because they need high-quality, scalable chromatography inputs.
Use the media in outsourced production workflows where purification performance, reliability and scale matter.
Evaluate the media for purification of biosimilar insulin and related peptide products as they scale manufacturing.
Purchase small evaluation quantities and technical support to validate fit before production-scale adoption.
Strategy
Nanologica’s strategy is to build a scalable business around high-performance silica media for peptide-drug purification, with a focus on insulin and obesity-related therapies. The company is prioritizing commercialization, production and technology development, while broadening its product portfolio and deepening customer partnerships.
The core growth opportunity depends on converting customer evaluations into production-scale adoption.
Complementary products increase the addressable market and improve customer retention.
Reliable supply and consistent product quality are essential for industrial pharmaceutical customers.
Geography
Nanologica sells through a sales organization that covers major markets, with dedicated coverage for India, China, the United States and Europe. The company’s revenue is exposed to foreign exchange movements because a large share of sales is denominated in USD while many costs are in GBP and SEK. Its customer base is global, but commercial traction is especially tied to pharmaceutical manufacturing hubs in North America, Europe and Asia.
Risks
Nanologica faces financing, commercialization and execution risks typical of an early commercial-stage life-science supplier. Its customers demand high product quality, delivery reliability and extensive validation, while competition and differing test methods can make adoption uncertain; the business is also exposed to currency swings, supplier dependence and key-person risk.
- Capital raising dependenceImpact: CriticalLikelihood: Medium
If the company cannot secure funding, development, manufacturing and sales activities may be limited or suspended.
Exposure: working capital and expansion plans
- Commercialization riskImpact: HighLikelihood: Medium
Revenue depends on converting technical evaluations into repeat production orders, which can take 3-18 months.
Exposure: NLAB Saga® and related products
- Product performance and customer testing riskImpact: HighLikelihood: Medium
Different customers use different methods and conditions, so products may perform differently in trials.
Exposure: customer qualification and adoption
- Manufacturing and supply-chain riskImpact: HighLikelihood: Medium
Production relies on contract manufacturers, raw materials and specialized equipment, creating delay and quality risk.
Exposure: silica media production
- Foreign exchange riskImpact: MediumLikelihood: Medium
A large share of revenue is in USD while costs are partly in GBP, so exchange-rate moves affect results.
Exposure: SEK/USD and SEK/GBP
- Key-person dependenceImpact: MediumLikelihood: Medium
The company is small and depends heavily on specialized management and technical staff.
Exposure
Accounting
Judgemental itemsRaw materials, work-in-progress and finished goods are measured at the lower of cost and net realizable value, so demand changes can trigger impairments.
Impact: affects cost of sales, inventory and operating profit
Costs are built from materials, labor and overhead using standard values and normal capacity assumptions, which can shift reported margins.
Impact: affects inventory carrying values and gross margin
Premises and embedded equipment leases create right-of-use assets and lease liabilities, affecting EBITDA, depreciation and leverage metrics.
Impact: affects balance sheet and operating expense presentation
Tax losses have not been recognized as deferred tax assets, reflecting uncertainty over future taxable profits.
Impact: affects deferred tax assets and equity
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Last updated: 24/09/2026