Sprint Bioscience
Sprint Bioscience is a Swedish biopharmaceutical company focused on discovering and developing preclinical cancer drug programs. The company builds its portfolio in Stockholm and Huddinge, where it advances internally generated oncology programs that are intended to be partnered out to international pharmaceutical companies.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueInternally generated cancer drug programs advanced through discovery and preclinical development.
Licensing and collaboration agreements that monetize programs through partners.
Research funding, milestone payments, and other partner-related program income.
Customers
Sprint Bioscience sells primarily to international pharmaceutical and biotech companies that license preclinical programs or enter strategic partnerships. Its counterparties also include research partners and organizations that fund discovery work through collaborations or milestone-based agreements. The company’s customer base is therefore concentrated in external partners that want de-risked oncology assets rather than end patients or hospitals.
License preclinical cancer programs and pay for access to differentiated assets.
Enter collaborations or option deals around specific discovery programs.
Provide research funding or milestone support tied to program progress.
Strategy
The company’s strategy is to identify promising oncology biology, build preclinical programs, and partner each program with an external pharmaceutical company. It emphasizes a portfolio approach across several cancer-relevant biology areas so that multiple assets can create multiple future revenue streams. Maintaining a strong financial position is important because it supports continued portfolio build-out and improves negotiating leverage in partnering discussions.
Partnering is the core monetization model for each program.
A diversified pipeline increases the chance of repeat deal flow.
Discovery-stage biotech needs funding to sustain long development cycles.
Geography
Sprint Bioscience is headquartered in Stockholm and operates from Huddinge, near Karolinska University Hospital and Karolinska Institutet. Its business is built around partnering with international companies, so commercial exposure is broader than Sweden even though the scientific base is Swedish. The company’s revenue exposure is tied to where its licensing and collaboration counterparties are located rather than to local healthcare demand.
Risks
Sprint Bioscience faces the typical risks of preclinical biotech: scientific failure, long development timelines, and dependence on partner interest to convert programs into revenue. It also has exposure to counterparty, funding, and currency risk because income is largely partnership-based and often received in USD while costs are mainly in SEK.
- Partner and counterparty dependenceImpact: HighLikelihood: High
The business model relies on strategic partners to generate licensing and milestone income.
Exposure: Licensing agreements and collaborations
- Liquidity and financing needsImpact: HighLikelihood: High
Research and drug development require ongoing funding before product revenue exists.
Exposure: Operating cash flow and capital markets access
- Development failure in preclinical programsImpact: High
Discovery-stage assets can fail on biology, safety, or commercial fit before monetization.
Exposure: Pipeline programs
- Foreign exchange riskImpact: MediumLikelihood: Medium
Reportedly, revenues are mainly in USD while a large share of costs is in SEK.
Exposure: Transaction exposure
- Regulatory and industry changeImpact: MediumLikelihood: Low
Oncology drug development is affected by evolving scientific, legal, and regulatory standards.
Exposure: Drug development and partnering environment
Accounting
Judgemental itemsPartner agreements can produce lumpy revenue depending on contract terms and achievement of milestones.
Impact: Affects quarterly comparability and reported sales timing
Preclinical programs may need write-downs if prospects weaken or partnerships do not materialize.
Impact: Can materially affect operating result
The company notes that IFRS 16 would increase assets and liabilities if applied.
Impact: Affects balance sheet presentation and leverage perception
USD revenues and SEK costs create translation and transaction effects in reported earnings.
Impact: Can move operating result without underlying business change
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Last updated: 24/09/2026