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A3P Biomedical specializes in advanced prostate cancer diagnostics with the main product Stockholm3, providing a more precise test and clearer results for the patient. The company’s mission is to improve the quality of life of men by radically increasing the precision in prostate cancer diagnostics. A total of SEK 750 million has been invested in clinical studies and product development for Stockholm3. The company headquarters is located in Stockholm with around 30 employees.

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Summary and highlights:

  • Founded by an eminent and critically acclaimed researcher at Karolinska Institutet (KI) and top level business executives in Stockholm

  • World leading research recognized for their studies for Stockholm3. Awards such as “Cancer Researcher 2022 in Sweden” and the European Association of Urology (EAU) "Prostate Cancer Research Award 2022” won by the research team

  • Headquarters in Stockholm with approximately 30 employees

  • In 2020 A3P Biomedical was commercialized after conducting more than 75,000 tests. SEK 750 million has been invested in clinical studies and product development for Stockholm3

  • High profile investors such as Thomas Von Kock, former CEO of EQT, Stena Sessan, Bactiguard founder Christian Kinch, Recipharm founder Thomas Eldered and Inbox Capital.

  • The last fundraise of SEK 400 million was in May 2022, correlating to a SEK 1,2 billion post-money valuation

  • High margin multi-channel business model, starting with direct and distributor sales (e.g. to health providers and laboratories) at the moment with possibility of SaaS sales in future.

  • Total Addressable Market (TAM) of approximately SEK 120 billion. The TAM includes all male aged 40+ only from the targeted markets, e.g. not all potential countries are included

  • Key differences with Stockholm3 and the current industry standard PSA (prostate-specific antigen):
    - For patients: More efficient and clearer answers. Stockholm3 finds 100 percent more aggressive prostate cancers and reduces 50 percent of unnecessary biopsies compared to current practice with PSA
    - For healthcare providers: Lower direct costs with 17-28 percent since patients don't need to do unnecessary MRI or biopsy
    - General impact on society: Regions and states can implement general screening to drastically reduce the number of deaths caused by prostate cancer. Screening helps detect prostate cancer in an early phase and treat patients in time. Prostate cancer for men could be treated in a similar way to how women are offered screening for breast and cervical cancer

  • Stockholm3 has been implemented and replaced PSA at leading Nordic health care providers such as Capio S:t Görans Hospital in Stockholm and Stavanger University Hospital

  • Region of Värmland has implemented general screening for all men in the age of 50-75 years

  • Expanding across Europe and the first UK clinic in London, Groves Medical Group, just opened. US part of future expansion plan.

400 million SEK raised in May 2022 from top tier investors such as former CEO of EQT

In may 2022 it was announced that A3P Biomedical raised 400 MSEK in a direct rights issue from the Stena family’s investment company Stena Sessan, former EQT CEO Thomas Von Koch, Bactiguard founder Christian Kinch and Flerie Invest, an investment company founded by Recipharm founder Thomas Eldered, and Inbox Capital who is an investor in companies like Voi, Revolut and Instabox.

IPO plans is in the cards

In 2021 the company planned an IPO but decided to postpone it until further notice, instead the company raised money in the private markets. According to CEO David Rosén he said in an interview with Dagens Industri in May 2022 that an IPO is still an important milestone in their growth journey:

"It's on the table, but we don't want to go into more detail about the exact timing, given the market situation. But that is still our ambition – to explore the possibilities of an IPO.”

Current procedures struggling with insufficient and unreliable testing

Prostate cancer is the second most common male cancer, and the fifth leading cause of cancer related death in men worldwide. According to WHO, 1.4 million men were diagnosed with prostate cancer and 375,000 deaths were reported in 2020. Incidence of prostate cancer is expected to increase by 70 percent until 2040, driven by an aging population.

The EU has recommended countries to implement general screening but the current solutions on the market don’t hold high enough quality. In Sweden the national board of Social Affairs and Health (Socialstyrelsen) currently considers that the costs are higher than the benefits, hence prostate cancer testing needs to be conducted on the individual's own initiative today.

Men in the age of 50-75 in Sweden are recommended today to schedule a PSA test or the new Stockholm3 test. The PSA test, which is considered as the go-to test today, is not considered reliable since it does not give accurate results and many patients need to conduct unnecessary MRI or biopsies, just to find out that they do not have prostate cancer. This creates an unnecessary burden and increases costs and also creates immense stress for the patients.

“Early detection is of utmost importance for therapy success, but the commonly used PSA test has its shortcomings in terms of precision as it sounds off a false alarm too often, and still misses a lot of aggressive cases in need of treatment”, said Dr. Jeremy Harris, GP & Partner of Groves Medical Group in London that just implemented Stockholm3 replacing the PSA test.

Stockholm3 is more comprehensive and reliable and reduces direct costs

The Stockholm3 test combines protein markers, genetic markers, clinical data, and a proprietary algorithm, in order to predict the risk of aggressive prostate cancer. Studies have shown that compared with the current standard PSA test, Stockholm3 yields more accurate and clearer test results for early detection of prostate cancer. Stockholm3 finds 100 percent more aggressive prostate cancers and reduces unnecessary biopsies by 50 percent compared to current practice.

“Stockholm3 is a new more accurate test based on solid data from studies involving some 75,000 men. It has been shown to reduce overtreatment such as unnecessary biopsies by around 50 percent, and even more importantly, it finds twice as many cases of aggressive cancer compared to PSA. We are therefore very happy that we can now offer Stockholm3 to our patients to improve treatment and in the long run save lives,” says Dr. Jeremy Harris, GP & Partner of Groves Medical Group.

As a result of higher efficiency, healthcare providers in Sweden and Norway, who have replaced PSA with Stockholm3, show that direct care costs are reduced by 17 to 28 percent.

World leading and critically acclaimed research

Stockholm3 has been evaluated in clinical studies with more than 75,000 men. Data from the latest pivotal study, a randomized study including 12,750 men, was published in The Lancet Oncology in 2021. The study was also awarded the European Association of Urology (EAU) "Prostate Cancer Research Award 2022". Multiple additional studies have been published in high-impact journals, including a previous study with 58,000 men, published in The Lancet Oncology in 2015.

Founder Henrik Grönberg, professor in cancer epidemiology at Karolinska Institutet (KI), was awarded Cancer Researcher of the Year in Sweden 2022. The research committee summarized the nomination the following way:

“For world-leading research on prostate cancer. For methods of detecting prostate cancer at an early stage, but also to avoid unnecessary examinations, as well as to identify the patients who need to be treated immediately. All this contributes to more individualized treatment, an increased chance of cure and a high quality of life.”

Region Värmland is first in implementing general screening with the help of Stockholm3

Region Värmland has introduced general screening for prostate cancer with the help of Stockholm3 for men in the age category 50-75.

"We are very proud and happy that, as the first Swedish region, we can offer all men in the risk zone an organized testing program, in a similar way to how we offer women screening for breast and cervical cancer," says Göran Karlström, General Practitioner and Medical Director of Health and healthcare, Region Värmland.

In Region Värmland Stockholm3 is taken after taking a PSA test, a common test that enables early detection of symptom-free prostate cancer but which only measures a protein in the blood.

“After these two tests, you can then distinguish which men need to proceed to tissue sampling”, says Mauritz Waldén, urologist in Region Värmland. “This can contribute to improving prostate cancer diagnostics in order to eventually pave the way for general prostate cancer screening, which is not currently in place.”

Stockholm3 is being adopted by leading providers and meets a global demand

Today the test has replaced PSA at leading Nordic healthcare providers such as Capio S:t Görans Hospital in Stockholm and Stavanger University Hospital. It was also just announced that Groves Media Group in London is the first UK health care provider to implement Stockholm3.

“We see a growing interest for Stockholm3 all over Europe. The test is now available to British men for the first time and I believe that it can play an important role in the UK for improving early detection and at the same time save costs through reducing overtreatment,” says David Rosén, CEO of A3P Biomedical in February 2023.

"We have come a long way in the journey already, it is a commercial product that is already available on the Swedish market today. So there is a lot of focus on an international expansion and launch, where of course the USA is part of the plans.” concludes David Rosén in Dagens Industri in May 2022.

“Private companies have huge potential upside. The challenge is that they are usually closed to investment. We created Tioex as a new way in.”
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Johan Hägglund

Founding Partner, CEO


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