Ultimovacs

01 / WHAT IT BUILT

What the company did

Ultimovacs was a Norwegian clinical-stage biotechnology company developing UV1, an off-the-shelf therapeutic cancer vaccine designed to trigger a T-cell immune response against telomerase, an enzyme active in the vast majority of cancers. The vaccine, originating from research at the Norwegian Radium Hospital, was developed for use in combination with checkpoint inhibitors and other immunotherapies across multiple cancer types. The company was listed on the Oslo Stock Exchange from 2019.

03 / EVENT HISTORY

Events in the structured record

1. 2011
   Founded

   Ultimovacs was founded in Oslo, Norway, based on cancer vaccine research from the Norwegian Radium Hospital.

2. 2019
   Oslo IPO

   The company raised about NOK 370 million and listed on the Oslo Stock Exchange to fund the clinical development of UV1.

3. 2024
   Phase II trial failures and layoffs

   UV1 failed to meet primary and secondary endpoints in the INITIUM melanoma trial in March 2024, and the company laid off about 40% of its staff to preserve cash. The FOCUS head-and-neck cancer trial also failed in August 2024, leaving the company with runway into the fourth quarter of 2025.

4. 2024
   Combination agreement with Zelluna

   In December 2024 Ultimovacs announced an agreement to combine its business with Zelluna Immunotherapy, with UV1 entering a wrap-up phase.

5. 2025
   Merger completed

   The business combination with Zelluna was completed, and UV1 became a legacy asset of the combined company.

6. 2026
   UV1 programme closed

   The final Phase II DOVACC trial in ovarian cancer missed its primary endpoint, and the combined company formally closed the UV1 programme, concluding all five Phase II studies had failed their primary endpoints.