Flerie AB has increased its ownership in Prokarium through a GBP 4.75 million investment aimed at advancing its innovative cancer immunotherapy projects.

Information on the Target

Flerie AB (publ) has announced an investment of GBP 4.75 million to increase its ownership stake in cancer immunotherapy company Prokarium. This investment will be executed through a loan conversion, significantly enhancing Prokarium's capital structure and its ability to advance its unique microbial immunotherapy for bladder cancer. As a result of this transaction, Prokarium's valuation will lead to a reduction in Flerie’s net asset value for the portfolio company by SEK 183 million, relative to the valuation recorded on October 31, 2025.

Prokarium has recently completed dosing in a clinical study of its drug candidate ZH9, targeting patients with non-muscle-invasive bladder cancer. Current standard treatments pose a high risk of recurrence, underscoring the demand for improved therapeutic options. Ongoing clinical trials are continuously generating new data, which will inform potential partnership agreements or larger fundraising rounds as critical milestones are achieved.

Industry Overview in the Target's Country

Sweden has a well-established life sciences sector recognized for its innovative research in biomedicine and therapeutics. The country is home to numerous biotechnology firms and research institutions, supported by a robust regu