Vivesto
Vivesto AB is a Swedish drug development company based in Stockholm that develops oncology programs for both human and veterinary use. Its portfolio centers on Cantrixil for blood cancer and Paccal Vet, a micellar paclitaxel program being studied in dogs and cats with cancer.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueDevelopment-stage cancer therapies for difficult-to-treat human malignancies.
Cancer treatments and studies for dogs and cats with solid tumors and HSA.
Customers
Vivesto does not sell to mass-market end customers; its commercial counterparties are primarily pharmaceutical and biotech partners, clinical investigators, and veterinary oncology stakeholders. In practice, the company’s programs are designed to create value for future licensing partners that can fund late-stage development and commercialization, while clinical sites and study participants support the development work.
Buy or license development-stage oncology assets such as Cantrixil for further clinical development and commercialization.
Potential partners for Paccal Vet who can advance animal cancer programs through later-stage development and market access.
Hospitals and veterinary centers that conduct the company’s pilot, PK, tox, and dose-finding studies.
Strategy
Vivesto’s strategy is to advance its two oncology programs through the next value-inflection milestones and use data to support partnering. The company also emphasizes building international business-development relationships so that later-stage development and commercialization can be handled with external partners rather than internally.
Human oncology data can create partnering interest and future licensing value.
Veterinary oncology data can broaden the partner universe and validate the platform.
The business model depends on external partners to fund later-stage development and commercialization.
Geography
Vivesto is headquartered in Solna, Sweden and is listed on Nasdaq Stockholm. Its development work is international: the company references activity across the United States, Europe, and Asia, and its Paccal Vet study in dogs is run at multiple clinical centers in the U.S.
Risks
Vivesto is exposed to the typical risks of a development-stage biotech company: clinical failure, regulatory uncertainty, and dependence on external funding and partners. The company also has a concentrated pipeline, so setbacks in either Cantrixil or Paccal Vet could materially affect its value creation path.
- Clinical development failureImpact: HighLikelihood: High
The company’s value depends on positive data from Cantrixil and Paccal Vet studies.
Exposure: Cantrixil and Paccal Vet
- Financing riskImpact: High
As a development-stage biotech with no product revenue, Vivesto depends on capital to fund operations.
Exposure: Corporate funding runway
- Partnering/commercialization riskImpact: MediumLikelihood: High
The business model assumes later-stage development and commercialization will be done with partners.
Exposure: Licensing and out-licensing execution
- Regulatory and study-design riskImpact: MediumLikelihood: High
Clinical and veterinary studies must satisfy regulators and generate usable data.
Exposure: Human and veterinary oncology programs
Accounting
Judgemental itemsThe parent company does not recognize office leases as assets and liabilities the same way full IFRS would.
Impact: Affects balance sheet and expense timing
Loans from the main owner were repaid or converted through share transactions.
Impact: Affects financing cash flow, equity, and interest expense
Clinical and preclinical work is expensed as incurred rather than capitalized in most cases.
Impact: Drives reported operating loss and quarterly volatility
The company has begun evaluating the new presentation standard effective for later years.
Impact: May change line-item presentation and comparability
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Last updated: 24/09/2026