ZICCUM AB (publ) Annual Report 2021

ANNUAL REPORT 1 JANUARY – 31 DECEMBER 2021. To read the digital Report in full (in Swedish) click here: https://reports.ziccum.com/arsredovisning-2021


  • The result for the year amounted to SEK -21,136 thousand (-17,289 thousand)
  • Cash flow for the year amounted to SEK -21,347 thousand (-31,556 thousand)
  • Cash and cash equivalents at the end of the year amounted to SEK 12,273 thousand (SEK 33,620 thousand)
SUMMARY FINANCIAL DATA kSEK Jan-dec 2021 Jan-dec 2020
Net revenue
Operating result (21,117) (17,235)
Result (21,136) (17,289)
Balance sheet total 39,591 39,640
Cash flow (21,347) 31,556
Cash and cash equivalents 12,273 33,620
Equity ratio % 0.75 0.92
Data per share SEK
Number of shares at end of year 11,006,056 9,606,200
Result per share before and after dilution* -2.17 -2.06
Cash flow per share -2.19 3.75
Equity per share 2.70 3.79
* Dilution effect is not calculated when the result is negative

A renewed focus on partnerships that will change and improve the vaccines of the future

Ziccum is developing a technology that has the pioneering potential to improve the production and distribution of biological drugs. This technology makes it possible to gently dry biological material into a stable powder that is thermostable and so resistant to temperature changes. Driven by today’s rapid and growing understanding of just how much humanity depends on effective and economically sustainable vaccination, Ziccum’s development focus is firmly on vaccines against COVID-19.

Ziccum is developing a stepwise process step towards a new production method for biological drugs and vaccines. The company's business model is based on entering into strategic collaborations and licensing agreements to industrialize and commercialize this technology. In order to become an attractive partner to large companies, solid data that verifies the technology's potential and capacity are an absolute prerequisite. A central part of Ziccum's business model is to enter into early evaluation agreements with large companies and offer potential partners the opportunity to evaluate LaminarPace in specific development projects. In order to further strengthen the offer to potential partners, it is also a stated goal to describe in detail what is required to take today's small-scale experimental activities up to an industrial scale and quality.

The COVID pandemic has clearly illustrated for both the vaccine industry and the countries of the world the enormous value and advantages that vaccines in powder form would deliver, both for transportation and storage. Ziccum has generated data that support its technology's ability to gently dry liquid biological material into powder. Following months in strict conditions and temperatures up to 40 ° C this dried material has demonstrated that it retains its structure and stability.

During 2021, the COVID pandemic limited the possibilities of entering into new collaboration agreements, but offered the opportunity to instead generate more verifying data and take several important steps towards conceptually describing an industrial version of Ziccum's technology. This has created better conditions for clarifying Ziccum's offering and a new focus is now underway on increasing the pace of our business development work.

Thanks to a successfully completed new share issue at the end of 2021, Ziccum also has a strong financial position, creating good conditions for reaching important milestones with our existing cash.

Lund, March 24, 2022
Frida Hjelmberg
Acting CEO

To read the digital Report in full (in Swedish) click here: https://reports.ziccum.com/arsredovisning-2021/