Calluna Pharma

Active#3 in Norway

Estimated valuation · Immunology antibodies · Norway

Clinical-stage biotech developing antibody therapies that target innate-immunity pathways to treat patients with inflammatory, fibrotic and respiratory diseases.

Biotech›immunology antibodies callunapharma.com

Founded2024

HQOslo

Last roundSeries A · Jan 2024

Country of originNorwayListed in the Norway ranking

Where would you invest?NorwayJurisdiction as cited by the ranking

Estimated valuation

AI · Norway ranking

≈ USD 420MUSD 210–840M · Hundreds of M$

Hundreds of k$

Millions $

Tens of M$

Hundreds of M$

Unicorn

Decacorn

Hectocorn

Anchor: Last known equity round: Series A · USD 81.6M · Jan 2024
AI adjustment: None

An indicative editorial estimate produced by AI, imperfect by nature: neither a financial valuation nor investment advice. Only the market sets a company’s value. Method

Uback rankings

How the AI ranks →

Ranking	Tier	Rank	Edition	Next update
Norway · all sectors	Top 20	#3	Edition 0 · October 2026	25 Nov 2026

Rank historyOct 2026 · #3First edition: no movements yet.

Funding history

Date	Round	Amount	Type	Investors
Jan 2024	Series A	USD 82M	Equity	Forbion, Sarsia, p53, Investinor

Rounds as cited by Uback’s rankings. Equity, debt and grants are shown separately; only equity rounds count towards the valuation anchor.

Independent analyses

By industry professionals & analysts

Industry professionals and financial analysts can publish their own analysis of Calluna Pharma as a PDF. It must answer at least one of these four questions, and stick to them:

AI valuation: $420MUndervalued or overvalued?

Versus competitorsHow does it compare?

Who should acquire itStrategic buyers, and why

Who should it acquireAcquisition targets, and why

Publish an analysisName, role and LinkedIn shown · public sources only

Analyses are the opinion of their authors, not of Uback. They are checked before publication.

Invest

Back Calluna Pharma whether or not it has agreed: your intention joins the pool on Calluna Pharma, passed to the Fundraising Desk of its country once it reaches critical mass. Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale.

Back Calluna Pharma Or back biotech in Norway

Pool on Calluna PharmaBelow threshold

BackersBelow threshold

Paid intention · valid for life · movable until you sign with a partner desk. If the company does not follow up, Uback invites its Backers to move their intentions to a competitor or a similar company. Investing in non-listed companies carries a risk of losing all the capital invested.

Do you run Calluna Pharma?

Claim this profile to correct data, add your logo and description, or tell Uback about an upcoming round.

Claim this profile Report an upcoming round → Report an error →

Are you a shareholder?

Considering selling some of your shares? Tell Uback privately. Nothing is published without your consent, and never a price or a volume.

Tell Uback privately

What the AI reads

Read by the AI at the next edition.

Comparable companies in Norway

Full Norway ranking →

Ardoq#2B2B software › enterprise architectureHundreds of M$Xeneta#4B2B software › freight rate intelligenceHundreds of M$Gelato#1E-commerce › print on demandUnicorn Dune#5Crypto › blockchain data analyticsHundreds of M$

Last updated: Oct 2026Report an error

Uback is a content publisher and an aggregator of non-binding expressions of interest. It provides no investment advice, receives no mandate and takes part in no transaction. Rankings, ranges and brackets are editorial estimates produced by AI, purely indicative.