Spago Nanomedical AB (publ) Spago Nanomedical AB (publ) (SPAGO.ST) is a Sweden-based clinical-stage nanomedicine company focused on developing nanoparticle-based products for improved imaging diagnostics and treatment of cancer and other severe diseases; its operations leverage a proprietary patented platform of polymeric materials that enable physiological tumor accumulation for enhanced precision in diagnostics and therapeutics. Founded in 1999 and headquartered in Lund, Sweden, the company advances two core pipeline projects: SpagoPix (SN132D/peglfosimer manganese), a gadolinium-free MRI contrast agent in phase II for breast, liver, and pancreas cancers that selectively accumulates in tumor tissue to reduce false positives and improve scan accuracy; and Tumorad (SN201/177Lu-SN201), a preclinical-to-phase I/IIa radiopharmaceutical therapy using radioactive isotopes in functional nanoparticles for targeted radiation of solid, aggressive, and metastatic tumors while minimizing off-target effects. SpagoPix has demonstrated good contrast enhancement and safety in initial clinical data from the phase I SPAGOPIX-01 study, with results published in Investigative Radiology, while Tumorad has shown promising preclinical tumor accumulation, delayed growth, and favorable early imaging in the ongoing Tumorad-01 phase I/IIa dose-escalation study across multiple tumor types at sites in Australia. Recent developments include an oversubscribed rights issue in November 2025 raising approximately SEK 25 million to fund Tumorad advancement, progression to higher doses in Tumorad-01 following positive data monitoring committee review in March 2025, publication of SpagoPix clinical data to support partnering discussions, a proposed board refresh with oncology experts Alan Raffensperger as chairman and Mikael von Euler as member, and the release of the 2024 annual report highlighting accelerated Tumorad focus; formerly known as Spago Imaging publ AB, the company lists on Nasdaq First North Growth Market in Stockholm and employs about nine staff with global partnering ambitions in high-need oncology markets.