# Marten Steen

> Marten Steen is a Series A investor at HealthCap backing Biotechnology and Health Care. See 12 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [HealthCap](https://shizune.co/investors/profile/healthcap)
- Location: Stockholm, Sweden
- Total investments: 12
- Last investment: Apr 2026
- Lead investor: 17%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/marten-steen-a3439a11/

Marten Steen is a Series A investor at HealthCap in Stockholm focused on Biotechnology and Health Care. Marten Steen, partner at HealthCap, previously worked with global business development at Merck Serono, focusing on both product and technology licensing.Marten Steen is a Medical Doctor trained at Lund University. He has pursued research in the field of protein chemistry and coagulation at Lund University and Novo Nordisk, rendering him a Ph.D.in Clinical Chemistry in 2003. He is the author of 16 scientific papers and published in peer-reviewed journals.He also has a BSc degree in Business Administration from the Lund University School of Economics and Management.In addition to Wilson Therapeutics AB, Marten Steen also serves on the board of BioClin Therapeutics Inc, Ultragenyx Inc, Immune Targeting Systems Ltd, and deputy member of the board of Nordic Nanovector.He previously served on the board of FerroKin Biosciences prior to its acquisition by Shire.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 7 | 58% |
| Health Care | 6 | 50% |
| Medical | 2 | 17% |
| Pharmaceutical | 2 | 17% |
| Therapeutics | 1 | 8% |

6 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 5 | 42% |
| Series B | 4 | 33% |
| Series C | 1 | 8% |
| Funding Round | 1 | 8% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Sweden | 2 | 17% |
| United States | 2 | 17% |
| Belgium | 1 | 8% |
| Denmark | 1 | 8% |
| Ireland | 1 | 8% |

6 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $75M | Series C | Apr 14, 2026 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $135M | Series B | Nov 25, 2024 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $34M | Series A | Apr 04, 2023 |  |
| ADCendo | ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment. | $61.8M | Series A | Apr 29, 2021 |  |
| Priothera | Priothera is a clinical-stage company developing orally applied sphingosine 1 phosphate (S1P) receptor modulators for haematological malignancies. We are dedicated to improving the lives of patients suffering from hematological malignancies by delivering an innovative immune modulator to enhance the curative potential of allogeneic HematopoieticStem Cell Transplantation (HSCT) in these patients. | $35.4M | Series A | Oct 12, 2020 |  |
| Precirix | Developing radio-immunotherapeutic drugs for cancer patients. | $39.3M | Series A | Nov 15, 2018 |  |
| Wilson Therapeutics | Wilson Therapeutics is a biopharmaceutical company, based in Stockholm, Sweden, that develops novel therapies for patients with rare diseases such as Wilson Disease. Wilson Therapeutics’ lead product, Decuprate®, is initially being developed as a new treatment for Wilson Disease and is currently being evaluated in a Phase II clinical study inWilson Disease patients. | $40M | Series B | Apr 16, 2014 |  |
| Ultragenyx Pharmaceutical | Ultragenyx Pharmaceutical develops therapeutics for rare diseases, sometimes referred to as Orphan products. Ultragenyx is a efficient and effective development strategies are essential for success in the rare disease space, in which information may be incomplete or ambiguous, and few development precedents exist. The management team'sexperience in selecting and developing products with clear mechanisms of action for untreated rare diseases will help Ultragenyx create life-changing therapeutics by leveraging existing yet undeveloped science for these little-known indications. | $75M | Series B | Dec 31, 2012 |  |
| FerroKin Biosciences | Ferrokin Biosciences Inc. develops and markets medical devices. The company offers iron chelator for the treatment of iron-overload in patients with transfusion-dependent hereditary and acquired refractory anemias. The company is based in San Carlos, California. | $12M | Series B | Jun 18, 2010 |  |
| Immune Targeting Systems | Immune Targeting Systems (ITS) Limited is developing synthetic vaccines for mutating viruses. The Company's enabling T-cell vaccine platform enables it to target highly conserved parts of the virus ("antigens") and direct an T-cell immune response to those cells in the body infected with one of these difficult viruses. Thefluoropeptide vaccine technology then delivers these antigens into the body and promotes robust T-cell immunity without requiring potentially toxic adjuvants which are normally used with vaccines to boost the responses achieved. The company was founded in late 2003 and is located at the London BioScience Innovation Centre, based in London. In June 2007 the company raised its first major venture capital funding from a syndicate of investors including the Novartis Venture Fund, HealthCap, Truffle Capital & the London Technology Fund. Alongside this investment, the London Development Agency has awarded ITS an Exceptional Development Grant. | $13.2M | Series A | Mar 17, 2010 |  |

10 of 12 investments shown.

## Co-investors
- [Novo Holdings](https://shizune.co/investors/profile/novo-a-s) — VC Fund, 5 deals together
- [Pontifax](https://shizune.co/investors/profile/pontifax) — VC Fund, 4 deals together
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund, 4 deals together
- [Ysios Capital](https://shizune.co/investors/profile/ysios-capital) — VC Fund, 4 deals together
- [Gilde Healthcare](https://shizune.co/investors/profile/gilde-healthcare-partners) — VC Fund, 3 deals together
- [Dawn Biopharma](https://shizune.co/investors/profile/dawn-biopharma) — VC Fund, 2 deals together

## About HealthCap

VC Fund · Stockholm, Sweden

HealthCap is a family of multi stage venture capital funds, investing globally in life sciences, with the Odlander Fredrikson Group as their exclusive investments advisor. With committed capital exceeding € 800 million, HealthCap is one of the largest specialized provider of venture capital within life sciences Europe.

5 contacts available at HealthCap.

| Name | Title | Profile |
| --- | --- | --- |
| Bjorn Odlander | Founder and Partner | https://shizune.co/investors/profile/bjorn-odlander |
| Marten Steen | Partner | https://shizune.co/investors/profile/marten-steen |
| Per Samuelsson | Partner | https://shizune.co/investors/profile/per-samuelsson |
| Anki Forsberg | Partner | https://shizune.co/investors/profile/anki-forsberg |
| Carl Dalsgaard | Venture Partner | https://shizune.co/investors/profile/carl-johan-dalsgaard |

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## FAQ

### What does Marten Steen invest in?

Marten Steen invests primarily in Biotechnology, Health Care and Medical startups, most often at Series A and Series B stage. Most of the 12 investments tracked by Shizune back companies in Sweden. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Marten Steen last invest?

The most recent investment recorded for Marten Steen closed in Apr 2026. Shizune tracks 12 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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