# Cytovation ASA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cytovation-asa

- Industry: Biotechnology
- Headquarters: Bergen, Norway
- Website: www.cytovation.com
- Total disclosed funding: $28M
- Latest round: Series A (Jun 2, 2023)
- Investors on record: 2

## About

Cytovation ASA, based in Norway, is engaged in the development of advanced immunotherapy solutions aimed at treating cancer patients, specifically targeting ß-catenin driven tumors.Founded in 2015 and headquartered in Bergen, Norway, Cytovation ASA focuses on creating immunotherapy products for oncology. The company has executed a total of 4 deals, with its most recent funding round attracting NOK 62 million in April 2025, led by Sandwater. The firm has not undergone any significant changes in business strategy or structure since its inception. Lars Prestegarden serves as the CEO.Cytovation specializes in innovative immunotherapy solutions, primarily developing its core product, CY-101, to treat cancer patients with ß-catenin driven tumors. Utilizing a unique peptide technology, CY-101 aims to trigger the immune system to specifically target and eliminate tumors. Backed by over 15 years of research from collaborations with the University of Bergen and Haukeland University Hospital, this first-in-class product is intended to enhance treatment outcomes across various solid tumors influenced by the Wnt/ß-catenin signaling pathway. The company's solutions are targeted at oncologists and cancer treatment centers throughout Europe and North America, with plans to broaden their market presence.In the most recent year, 2016, Cytovation reported revenue of NOK 0, with an EBITDA of NOK -7,321,713.70 in 2023. The company generates revenue primarily through the sale of its immunotherapy product CY-101 to healthcare providers, including hospitals and oncology clinics. Given the complexity and high value of these treatments, Cytovation may engage in one-off sales or partnership agreements with treatment centers to facilitate ongoing patient care. These arrangements typically involve negotiated pricing, allowing flexibility in how the therapies are accessed and administered.Cytovation ASA plans to utilize the NOK 62 million raised in April 2025 to finance its clinical trials for upcoming products. The company is focused on expanding its market reach, specifically targeting new regions for the distribution of CY-101 and other future therapies. Details on specific new products or geographic markets to be entered have not been disclosed, but the company’s strategy emphasizes growth through innovative therapy development and geographical expansion.

## Funding rounds

- Series A, Jun 2, 2023, $8M — Canica, Project Sandwater
- Series A, Jan 25, 2022, $20M — Canica, Project Sandwater

## Investors

- Canica — Series A
- Project Sandwater (https://capitalatlas.ai/funds/project-sandwater) — Series A