About Xspray

Xspray was founded in 2003 as a drug delivery company based on the company’s patented nozzle for particle engineering and scale-up. In 2011, Xspray realigned its business model from conducting contract research and development for other pharmaceutical companies to focusing on developing proprietary drugs based on its RightSize™ technology. Xspray is now a pharmaceutical company focused on developing improved and generic versions of already marketed drugs, mainly protein kinase inhibitors (PKIs) for targeted cancer treatment, and aims to be world leader in this field.

Xspray has announced three product candidates in development, where original drugs have yearly
sales of over USD 2 billion in the US alone, and a clear path to launch for its first product, HyNap-Dasa, in the US.

Creating a pipeline of anti-cancer products

Xspray employs a patent-protected technology platform in order to create a pipeline of anti-cancer products with clinically relevant improvements or value enhanced generic versions for patients. Xspray primarly develops protein kinase inhibitors (PKI) for targeted cancer treatments. PKI’s are the second largest segment within cancer drugs.

Our history


  • Xspray Pharma proposed a directed issue of 1,350,000 shares corresponding to approximately SEK 88 million to expand the product portfolio


  • Positive results from pilot study showed HyNap-Dasa’s bioavailability of dasatinib and achieved the primary purpose of the study which was to provide support the comapny’s composition of products
  • Xspray Pharma was on the 28th of September listed on Nasdaq First North Growth Market
  • Change of name from Xspray Microparticles to Xspray Pharma in order to highlight the company’s strategy to focus on its own product development


  • Completion of 41 MSEK directed equity issue
  • Positive results from the clinical trials of an improved as well as generic version of HyNap-Dasa (dasatinib)
  • FDA confirmation that HyNap-Dasa clinical trial programme can be performed on healthy subjects, i.e. no studies on cancer patients will be needed


  • Clinical proof-of-concept (POC) for HyNap-Dasa (dasatinib)
  • Freedom-to-operate (FTO) for HyNap-Dasa confirmed by Swedish and US patent bureaus
  • Sale of Karolinska Developments holding shares to a constorium led by Stiftelsen för Östersjö- och Östeuropastudier (Östersjöstiftelsen) and Recipharm Venture Fund


  • Clinical proof-of-concept (POC) for HyNap-Nilo (nilotinib)


  • Deeper focus on PKI area of study
  • Development of hybrid nanoparticle technology (HyNap)
  • Patent applications on 10 of 18 marketed PKI’s


  • Strategic change of business model from drug delivery to the development of improved anti-cancer drugs, with a patented product portfolio


  • Construction of a GMP-plant for the manufacturing of clinical trial material (CTM) in accordance with GMP legislation which enables CTM deliveries to potential customers

2007 – 2010

  • Cooperation with Roche, Novartis, Lilly and other large and medium-sized pharmaceutical companies in regard to evaluation of the technology in their development programmes


  • Construction of a pilot plant which enables a tenfold uspalcing of the process from gram to kilogram scale

2004 – 2006

  • Development of the RightSize-technology, including basic methodology and design of mouth piece


  • Xspray Microparticles is founded. The company is based on the development of a new mouth piece which enables upscaling of super critical liquid technology (SCF) that could in the past only be used in non-commercial scale
  • Karolinska Development, majority stakeholder in Xspray, finances the technology development of Xspray