About Radforsk
Radforsk is a venture capital firm founded in 1986. It is primarily based out of Oslo, Norway. As of Jan 2012, Radforsk has invested in 16 companies. It primarily invests in Series A round in Norway based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Enterprise Applications. Most recently it participated in the $***** Series A round of Targovax Overall, Radforsk portfolio has seen 7 IPOs and 1 acquisition including key companies like Oncoinvent, Targovax and Nordic Nanovector. Birk Venture co-invest with Radforsk, sharing a substantial percentage of its portfolio. Radforsk has team of 4 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A
Portfolio IPOs
Portfolio Acquisitions
Radforsk's List of Top Investments
Radforsk has a portfolio of 16 companies. Their most notable investments include Oncoinvent and Zelluna Immunotherapy.Their portfolio spans across and Norway. They have invested in Life Sciences, High Tech, Enterprise Applications and 2 other sectors, across stages such as Series A stage. Here is the list of top investments by Radforsk:
1. Oncoinvent
Oncoinvent is developing radiotherapeutic, radio-immunotherapeutic and immunotherapeutic products for the treatment of various solid cancers. The company's radioisotopes are combined with carriers for optimal delivery of injected doses for the treatment of cancers. It's lead product cadherin which is an alpha-emitting radioactive microsphere designed for the treatment of metastatic cancers in peritoneal cavities. It has also developed proprietary antibodies (212Pb-labeled monoclonal antibodies) and holds a license for other antibodies.
Key facts about Oncoinvent
- Founded Year: 2010
- Location: Oslo (Norway)
- Annual Revenue: $1M - $10M as on Dec 31, 2019
- Stage: Public
- Total Funding till date: $30.7M
- Employee Count: 50 as on Jun 30, 2026
- Investors: Birk Venture, Hadean Ventures and 8 Others
- Latest Funding Round: Series B, May 19, 2020, $*****
- Highlight: Public
Developer of TCR-based therapies for a wide range of cancer types. It offers T-cell receptor-guided natural killer (NK) cell therapies for solid tumors and multiple cancers.
Key facts about Zelluna Immunotherapy
- Founded Year: 2016
- Location: Oslo (Norway)
- Stage: Series B
- Total Funding till date: $8.44M
- Employee Count: 23 as on Jun 30, 2026
- Investors: Takeda, Birk Venture and 3 Others
- Latest Funding Round: Series B, Aug 25, 2022, $*****
- Highlight: Editors' Pick
3. Targovax
Targovax is a clinical-stage immune-oncology company dedicated to the development of targeted immunotherapy treatments for cancer patients. It is targeting two complementary approaches to cancer immunotherapy: a cancer vaccine (peptide) platform for patients with RAS-mutated cancers and a platform based on engineered oncolytic viruses armed with potent immune-stimulating transgenes for patients with solid tumors. Its lead vaccine TG01, is in phase II clinical study in resected pancreatic cancer. Its lead adenoviral product, ONCOS-102 is for the treatment of solid tumors such as melanoma, malignant pleural mesothelioma, and ovarian cancer. Targovax has Orphan Drug Designation with the FDA and EMA for TG01 in pancreatic cancer and ONCOS-102 in mesothelioma, ovarian cancer.
Key facts about Targovax
- Founded Year: 2010
- Location: Lysaker (Norway)
- Stage: Public
- Total Funding till date: $5.8M
- Employee Count: 19 as on May 31, 2026
- Investors: Birk Venture, Healthcap and 1 Other
- Latest Funding Round: Series A, Jun 06, 2013, $*****
- Highlight: Public
Developer of antibody radionuclide conjugates for hematological cancers. The company's lead product includes Betalutin, an ARC that comprises a tumor-seeking anti-CD37 antibody conjugated to a low-intensity radionuclide (Lutetium 177). It is used to treat blood cancer non-Hodgkin Lymphoma.
Key facts about Nordic Nanovector
- Founded Year: 2009
- Location: Oslo (Norway)
- Stage: Public
- Total Funding till date: $51.7M
- Employee Count: 24 as on May 31, 2026
- Investors: Birk Venture, European Innovation Council and 4 Others
- Latest Funding Round: Post IPO, Jan 19, 2022, $*****
- Highlight: Public
5. PCI Biotech
Developer of novel therapies for the treatment of cancer. The company uses proprietary photochemical internalization (PCI) technology platform which induces to trigger endosomal release that is used to unlock the true potential of a wide array of therapeutic modalities. The technology is applied to three distinct anticancer paradigms, fimaCHEM which is used for the enhancement of chemotherapeutics for localized treatment of cancer, fimaVACC a T-cell induction technology for therapeutic vaccination, and fimaNAC for nucleic acid therapeutics delivery.
Key facts about PCI Biotech
- Founded Year: 2007
- Location: Oslo (Norway)
- Stage: Public
- Employee Count: 17 as on Dec 31, 2021
- Investors: Birk Venture and Radforsk
- Highlight: Public
Radforsk's Investments by Stage
Radforsk has made 1 investment in Series A stage with an average round size of $2.2M.Radforsk's Investments by Sector
Radforsk has a portfolio focused on Life Sciences. Notably, it has invested in 12 Tech companies, 11 Enterprise (B2B) companies and 2 Software companies.Radforsk's Investments by Geography
Radforsk has made most investments in Norway (1).Radforsk's recent investments
Radforsk has not made any investment in 2026 so far.Here are the most recent investments by Radforsk:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jan 25, 2012 | Norway | Series A | 3585 |
IPOs and Publicly Listed companies in Radforsk's Portfolio
7 of Radforsk's portfolio companies have become public. Oncoinvent got listed on the Euronext Exchange (Euronext), in Dec 2024 at marketcap of $14.8M and Nykode Therapeutics got listed on the Oslo Stock Exchange (OSE) at marketcap of undefined.Here are Radforsk's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 13, 2024 | - | - | 6953 | |
Jun 16, 2022 | - | - | 5955 | |
Jun 07, 2019 | - | - | 2635 | |
Jul 08, 2016 | Jan 25, 2012 | Series A | 7959 | |
Apr 23, 2015 | - | - | 7091 |
Acquired companies in Radforsk's Portfolio
1 company from Radforsk's portfolio has been acquired. The most recent acquisition was OncoImmunity in Jul 2019 by NEC for $*****.Here are Radforsk's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 29, 2019 | - | - | 5445 |
Team profile of Radforsk
Radforsk has a team of 4 members including 3 Partners located in Norway. Radforsk's team does not sit on the board of any company as of now.Here is a list of all team members in Radforsk:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Oslo | - | ||
Partner | Oslo | - | ||
Partner | Oslo | - |
Co-investors of Radforsk
Over the past 14 years, one investor has co-invested in Radforsk's portfolio companies. This includes funds and angels.
- Top Co-investors of Radforsk: Birk Venture entered a company along with Radforsk.
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