Kancera’s roots can be found in research on cancer carried out by the Karolinska Institute, and also in the industrial tradition established by Pharmacia and later Biovitrum.

In 2006, Pharmacia’s and Biovitrum’s unit for the development of drug candidates was spun off to form the company iNovacia. In 2008, iNovacia initiated drug development in collaboration with researchers at Karolinska Institutet.

In May 2010, researchers from the cancer center Karolinska, iNovacia AB and a group of private investors formed Kancera AB through the injection of capital and two drug projects in cancer.

NASDAQ approved Kancera AB for admission to trading on First North with the first trading day on February 25, 2011. 

In March 2013, Kancera AB acquired a complete development laboratory for pharmaceuticals from its now discontinued subsidiary, iNovacia AB, and now runs its own drug development at Karolinska Institutet Science Park, Stockholm.