Qlucore, based in Lund and listed on Nasdaq First North Stockholm, makes software that turns RNA sequencing data into diagnostic information, and in 2025 launched an AI-based, CE-marked test under the EU's in vitro diagnostics regulation (IVDR) for childhood leukaemia. The EIC Accelerator granted €2,491,650 towards a total cost of €3,559,500 for a project to build "the first IVDR-approved commercial software solutions" for acute myeloid leukaemia (AML) and bladder cancer, running from May 2024 to April 2027, according to CORDIS. Qlucore says it has passed all the milestones for the first part of the grant, with more than 800 bladder cancer and 350 AML samples sequenced to train its classifiers, according to Qlucore.
In February to April 2026 Qlucore launched Qlucore Insights tests for AML and bladder cancer for research use, while the CE-marked Qlucore Diagnostics versions remain in development, according to its year-end report. In the financial year to April 2026 its net sales fell 34% to SEK 6.7 million, mostly because a large drug-development customer did not renew its licences, and its net loss rose to SEK 36.5 million. It raised SEK 14.3 million in a rights issue, cut staff from 20 to 15 full-time equivalents, and ended the year with SEK 3.0 million in cash, with an EIC payment of just over SEK 5 million due after its second project report.
Company file
- Legal entity
- Qlucore AB (publ), 556719-3528
- Listing
- Nasdaq First North Stockholm
- Location
- Ideon Science Park, Lund
- Products
- Qlucore Omics Explorer, Qlucore Insights, Qlucore Diagnostics
- Approved test
- Childhood leukaemia (BCP-ALL), CE-marked under IVDR
- Research partners
- Two Lund University research groups
- EIC funding
- Grant only, €2.49M
Where Qlucore Stands Now
Most of Qlucore's sales still come from Qlucore Omics Explorer, its data analysis software for researchers. It says it has customers in 20 countries and sales offices in Europe and North America, and it resells BioTuring products in Europe. It has brought in external help to review its sales process and says the full effect of its cost cuts will show from August 2026. Its capitalised development costs fell from SEK 57.5 million to SEK 34.0 million over the year.
"To address the decline in sales, we have implemented further cost reductions, including staff reductions, but also reviewed the sales process with the help of external expertise."
Qlucore, CEO's statement, year-end report 2025/26The Technology: Classifying Cancer From Gene Activity
AML and bladder cancer carry many RNA changes, including gene fusions, that can guide treatment but are not fully used in diagnosis today, Qlucore says. Its software classifies tumours by their gene expression and detects fusion genes automatically. During the project it switched to neural network classifiers, which the project report says performed much better and will move into analytical and clinical performance evaluation, according to CORDIS.
What the EIC Award Promised, and What the Record Shows
The project runs until April 2027, so it is too early to judge it. Its technical milestones are on track and research versions of both tests are launched. The IVDR approval that is the heart of the award still lies ahead, and the company's finances have weakened while it waits.
- Training dataDelivered1,150+ samples.
- Research-use testsLaunchedAML and bladder, 2026.
- IVDR approvalPendingIn development.
- Company growthDecliningSales -34%.
The Money
Qlucore's net loss for 2025/26 was SEK 36.5 million on sales of SEK 6.7 million, according to the year-end report. Its equity fell from SEK 58.5 million to SEK 36.3 million despite the rights issue. The EIC grant is a significant share of its cash inflow: the next payment of just over SEK 5 million compares with SEK 3 million in the bank at the end of April.
What Cannot Be Checked
Questions for the EIC
When the AML and bladder cancer tests will be submitted for IVDR approval, how many clinics use the approved leukaemia test, and how Qlucore will finance itself beyond the EIC payments are not public.
Why Europe Should Care
IVDR approval is required to use software like Qlucore's in routine diagnosis in Europe, and Qlucore says its leukaemia test has no approved equivalent. Approved RNA-based tests for AML and bladder cancer would help doctors match patients to treatments. The EIC is funding the science; the company's balance sheet is the risk.
What the award promised
The first IVDR-approved AI tests for AML and bladder cancer.
What the record shows
Research-use tests launched, falling sales and SEK 3M in cash.
The Verdict
On schedule, under pressure
Qlucore is delivering the EIC project's steps. Whether the company stays strong enough to reach IVDR approval is the open question.
Qlucore and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
