Blue Cell Therapeutics ApS
Private limited companyCVR 39981610København NActive
Blue Cell Therapeutics ApS is a private limited company, based in København N, active in research and experimental development on natural sciences and engineering, founded in 2018. Equity was negative at the end of 2025 (−DKK 8.1m). The company made a loss in both 2024 and 2025, most recently DKK 21.2m.
Key figures · financial year 2025
Gross profit−DKK 5.8m−89.4% vs. 2024
Net profit−DKK 21.2m−39.7% vs. 2024
Equity−DKK 8.1m−162.1% vs. 2024
Employees11latest month from CVR
What has changed
calculated from recorded figures and datesFinancials: 2025 against 2024
- The loss grew: from DKK 15.2m to DKK 21.2m (2024 → 2025).
- Equity turned negative: −DKK 8.1m (2024 → 2025).
Employees
- 2 more employees than a year earlier: 11 (07/2026) against 9 (07/2025).
Management and owners, last 24 months
- New in management: Ole Vahlgren (board member, 08/08/2025) and Olav Hellebø (chair of the board, 08/08/2025).
- Stepped down: Ole Vahlgren (chair of the board, 07/08/2025), Anders Vadsholt (board member, 08/08/2025) and Sebastian Wehle (board member, 31/12/2024).
- New owners registered: Seier Capital A/S (14/10/2026), André Rogaczewski Holding Ii ApS (14/10/2026) and SPSheikh Holding ApS (14/10/2026) (+3).
- No longer registered as owner: Seier Capital A/S (28/06/2026), André Rogaczewski Holding Ii ApS (28/06/2026) and SPSheikh Holding ApS (28/06/2026) (+3).
Registrations, last 24 months
- 14/10/2026: Share capital changed from 57,223 DKK to 59,949 DKK
- 29/06/2026: Share capital changed from 53,745 DKK to 57,223 DKK
- 01/01/2025: Industry changed to Research and experimental development on natural sciences and engineering (721000)
Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.
Financial statements
Financial years 2020–2025 · amounts in DKK thousandEquity and net profit
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change | |
|---|---|---|---|---|---|---|---|
| Revenue | not stated | not stated | not stated | not stated | not stated | not stated | – |
| Gross profit | −2,944 | −844 | 852 | −742 | −3,053 | −5,781 | −89.4% |
| Operating profit (EBIT) | −14,951 | −15,382 | −14,800 | −18,259 | −17,541 | −20,620 | −17.5% |
| Profit before tax | −14,992 | −15,433 | −14,865 | −18,262 | −17,551 | −24,442 | −39.3% |
| Net profit | −14,027 | −14,241 | −12,570 | −15,288 | −15,190 | −21,221 | −39.7% |
| Total assets | 13,504 | 14,005 | 10,625 | 10,159 | 14,124 | 4,824 | −65.8% |
| Equity | 9,776 | 12,481 | 9,911 | 8,419 | 13,094 | −8,127 | −162.1% |
| Liabilities | 3,728 | 1,524 | 713 | 1,740 | 1,030 | 12,951 | +1,157.3% |
| Cash and cash equivalents | 9,746 | 10,607 | 4,005 | 3,632 | 7,554 | 190 | −97.5% |
| Average number of employees | 2 | 7 | 12 | 14 | 12 | 9 | −25% |
Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report. Revenue is not stated for 2020, 2021, 2022, 2023, 2024, 2025: smaller companies may omit it, and we do not derive it from other figures.
Download the figures as CSV · free with an account, amounts in whole DKK
Signals from the financial statements
calculated from the 2025 figuresNegative equity
Equity was −DKK 8.1m at the end of 2025.
How is this calculated?
Equity in the latest annual report is below zero.
Loss for 6 years in a row
Net result has been negative in 2020–2025.
How is this calculated?
Net result is negative in the two or more latest annual reports in a row.
Fewer employees
The number of employees fell 25% from 12 in 2024 to 9 in 2025.
How is this calculated?
The number of employees according to the annual report has fallen by at least 25%, and was at least 10 the year before.
The signals are rules applied to the figures in the annual reports. They are not an assessment or credit rating of the company. See Data and method.
Annual reports
6 financial years| Financial year | Period | Published | Figures for | Documents |
|---|---|---|---|---|
| 2025 | 01/01/2025 – 31/12/2025 | 05/07/2026 | The company | PDF not statedXBRL |
| 2024 | 01/01/2024 – 31/12/2024 | 27/06/2025 | The company | PDFXBRL |
| 2023 | 01/01/2023 – 31/12/2023 | 09/07/2024 | The company | PDFXBRL |
| 2022 | 01/01/2022 – 31/12/2022 | 19/06/2023 | The company | PDFXBRL |
| 2021 | 01/01/2021 – 31/12/2021 | 21/06/2022 | The company | PDFXBRL |
| 2020 | 01/01/2020 – 31/12/2020 | 21/07/2021 | The company | PDFXBRL |
The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.
Employees
monthly figures from CVRPosition in the industry
431 companies in the databaseComparison with the other companies in research and experimental development on natural sciences and engineering based on the latest financial year.
Gross profit−DKK 5.8mNo. 376 of 421
Better than 11% of the companies in the industry
Equity−DKK 8.1mNo. 396 of 431
Better than 8% of the companies in the industry
Number of employees11No. 150 of 431
Better than 65% of the companies in the industry
Industry median: gross profit DKK 616k, net profit −DKK 892k, equity DKK 2m, 5 employees.
Compared with similar companies
size, age and company form| Group | Gross profit | Equity |
|---|---|---|
| Companies with fewer than 20 employees69,967 companies in the comparison | No. 69,558of 69,742 Better than 0% | No. 69,499of 69,964 Better than 1% |
| Same industry and fewer than 20 employees329 companies in the comparison | No. 295of 323 Better than 9% | No. 305of 329 Better than 7% |
| Companies that are between 5 and 14 years old33,688 companies in the comparison | No. 33,446of 33,588 Better than 0% | No. 33,294of 33,687 Better than 1% |
| All companies of type ApS66,508 companies in the comparison | No. 66,213of 66,379 Better than 0% | No. 66,045of 66,505 Better than 1% |
The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.
Compare with the industry
Research and experimental development on natural sciences and engineeringGross profit
- Blue Cell Therapeutics ApS−DKK 5.8m
- Carlsberg A/SDKK 40.2bn
- Zealand Pharma A/SDKK 9.2bn
Net profit
- Blue Cell Therapeutics ApS−DKK 21.2m
- Carlsberg A/SDKK 7bn
- Zealand Pharma A/SDKK 6.5bn
Equity
- Blue Cell Therapeutics ApS−DKK 8.1m
- Carlsberg A/SDKK 30.7bn
- Zealand Pharma A/SDKK 14.8bn
Employees
- Blue Cell Therapeutics ApS11
- Carlsberg A/S107
- Zealand Pharma A/S569
Latest financial year per company. Choose up to three companies from the largest in the industry.
Owners and group
from the Public Ownership RegisterOwners
- Seier Capital A/S5%
- André Rogaczewski Holding Ii ApS33.33%
- SPSheikh Holding ApS33.33%
Blue Cell Therapeutics ApS
Management
6 active registrationsExecutive management
| Name | Role | Appointed |
|---|---|---|
| Søren Paludan Sheikh | CEO | 04/02/2019 |
Board of directors
| Name | Role | Appointed |
|---|---|---|
| Søren Paludan Sheikh | Board member | 04/02/2019 |
| Michael Ulveman | Board member | 24/08/2023 |
| Anella Rogaczewski | Board member | 20/10/2023 |
| Ole Vahlgren | Board member | 08/08/2025 |
| Olav Hellebø | Chair of the board | 08/08/2025 |
- Auditor
- Grant Thornton, Godkendt Revisionspartnerselskab
- Founders
- ynapmoc & etfot ApS
Former management (10)
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| Thomas Tofte Hansen | CEO | 28/10/2018 | 04/02/2019 |
| Thomas Tofte Hansen | Board member | 04/02/2019 | 30/03/2020 |
| Leif Helth Jensen | Chair of the board | 04/02/2019 | 30/03/2020 |
| Michael Ulveman | Chair of the board | 30/03/2020 | 23/08/2023 |
| André Rafal Rogaczewski | Board member | 30/03/2020 | 03/02/2022 |
| Casper Tind Hansen | Board member | 23/06/2021 | 30/01/2023 |
| Ole Vahlgren | Board member | 23/06/2021 | 23/08/2023 |
| Ole Vahlgren | Chair of the board | 24/08/2023 | 07/08/2025 |
| Anders Vadsholt | Board member | 11/04/2024 | 08/08/2025 |
| Sebastian Wehle | Board member | 11/04/2024 | 31/12/2024 |
Signing rule: Selskabet tegnes af den administrerende direktør, den administrerende direktør i forening med et bestyrelsesmedlem eller af den samlede bestyrelse.
Address and production units
1 active production unitsOle Maaløes Vej 3
2200 København N
København Municipality · Postcode 2200
Other companies at the address (2)
- Enduro Genetics ApSResearch and experimental development on natural sciences and engineering
- Cirqle Biomedical Contraception ApSResearch and experimental development on natural sciences and engineering
| Production unit | Address | Employees | P number |
|---|---|---|---|
| Blue Cell Therapeutics ApS | Ole Maaløes Vej 3, 3, 2200 København N | 10 | 1024083043 |
Purpose
Selskabets formål er at drive virksomhed med udvikling, behandling og kommercialisering af stamceller og hermed efter ledelsens skøn beslægtet virksomhed.
The purpose is quoted from the register in Danish.
Changes year by year
110 registered events32018
172019
142020
42021
62022
152023
302024
62025
152026
202615 changescapital 2 · ownership 12 · accounts 1
- CapitalShare capital changed from 57,223 DKK to 59,949 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSEIER CAPITAL A/S registered as owner (5%)
- OwnershipSEIER CAPITAL A/S is no longer registered as owner
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- AccountsAnnual report for 2025 published
- CapitalShare capital changed from 53,745 DKK to 57,223 DKK
- OwnershipSEIER CAPITAL A/S registered as owner (5%)
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- OwnershipSEIER CAPITAL A/S is no longer registered as owner
20256 changesmanagement 4 · accounts 1 · industry 1
- ManagementOle Vahlgren appointed board member
- ManagementOlav Hellebø appointed chair of the board
- ManagementAnders Vadsholt stepped down as board member
- ManagementOle Vahlgren stepped down as chair of the board
- AccountsAnnual report for 2024 published
- IndustryIndustry changed to Research and experimental development on natural sciences and engineering (721000)
202430 changesmanagement 3 · capital 5 · ownership 21 · accounts 1
- ManagementSebastian Wehle stepped down as board member
- CapitalShare capital changed from 50,110 DKK to 53,745 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSEIER CAPITAL A/S registered as owner (5%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- CapitalShare capital changed from 49,609 DKK to 50,110 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- AccountsAnnual report for 2023 published
- CapitalShare capital changed from 49,108 DKK to 49,609 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- CapitalShare capital changed from 48,553 DKK to 49,108 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- ManagementAnders Vadsholt appointed board member
- ManagementSebastian Wehle appointed board member
- CapitalShare capital changed from 47,456 DKK to 48,553 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
202315 changescapital 2 · management 6 · ownership 6 · accounts 1
- CapitalShare capital changed from 45,263 DKK to 47,456 DKK
- ManagementAnella Rogaczewski appointed board member
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- ManagementMichael Ulveman appointed board member
- ManagementOle Vahlgren appointed chair of the board
- ManagementOle Vahlgren stepped down as board member
- ManagementMichael Ulveman stepped down as chair of the board
- AccountsAnnual report for 2022 published
- CapitalShare capital changed from 43,133 DKK to 45,263 DKK
- OwnershipSPSheikh Holding ApS registered as owner (33.33%)
- OwnershipSPSheikh Holding ApS is no longer registered as owner
- ManagementCasper Tind Hansen stepped down as board member
20226 changescapital 1 · ownership 3 · accounts 1 · management 1
- CapitalShare capital changed from 40,000 DKK to 43,133 DKK
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (25%)
- OwnershipLeif Helth Jensen is no longer registered as owner
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS is no longer registered as owner
- AccountsAnnual report for 2021 published
- ManagementAndré Rafal Rogaczewski stepped down as board member
20214 changesaccounts 1 · management 2 · ownership 1
- AccountsAnnual report for 2020 published
- ManagementCasper Tind Hansen appointed board member
- ManagementOle Vahlgren appointed board member
- OwnershipTTH HOLDING ApS is no longer registered as owner
202014 changesaddress 1 · name 1 · capital 1 · management 4 · ownership 7
- AddressMoved to Ole Maaløes Vej 3, 3, 2200 København N
- NameName changed from Regenerative Therapeutics IVS to Blue Cell Therapeutics ApS
- CapitalShare capital changed from 2,000 DKK to 40,000 DKK
- ManagementAndré Rafal Rogaczewski appointed board member
- ManagementMichael Ulveman appointed chair of the board
- ManagementThomas Tofte Hansen stepped down as board member
- ManagementLeif Helth Jensen stepped down as chair of the board
- OwnershipTTH HOLDING ApS registered as owner (5%)
- OwnershipSPSheikh Holding ApS registered as owner (50%)
- OwnershipANDRÉ ROGACZEWSKI HOLDING II ApS registered as owner (20%)
- OwnershipREGTISS ApS is no longer registered as owner
- Ownershipynapmoc & etfot ApS is no longer registered as owner
- OwnershipSPLUSH GROUP ApS is no longer registered as owner
- OwnershipSPSheikh Holding ApS is no longer registered as owner
201917 changescapital 2 · ownership 10 · management 5
- CapitalShare capital changed from 1,900 DKK to 2,000 DKK
- OwnershipREGTISS ApS registered as owner (5%)
- OwnershipSPSheikh Holding ApS registered as owner (66.67%)
- OwnershipLeif Helth Jensen registered as owner (5%)
- CapitalShare capital changed from 100 DKK to 1,900 DKK
- ManagementSøren Paludan Sheikh appointed board member
- ManagementThomas Tofte Hansen appointed board member
- ManagementLeif Helth Jensen appointed chair of the board
- ManagementSøren Paludan Sheikh appointed ceo
- ManagementThomas Tofte Hansen stepped down as ceo
- OwnershipLeif Helth Jensen registered as owner (20%)
- OwnershipLeif Helth Jensen is no longer registered as owner
- Ownershipynapmoc & etfot ApS registered as owner (5%)
- OwnershipSHEIKH HOLDING ApS registered as owner (50%)
- OwnershipSHEIKH HOLDING ApS is no longer registered as owner
- OwnershipSPLUSH GROUP ApS registered as owner (5%)
- Ownershipynapmoc & etfot ApS is no longer registered as owner
20183 changesfounded 1 · management 1 · ownership 1
- FoundedRegistered as Regenerative Therapeutics IVS
- ManagementThomas Tofte Hansen appointed ceo
- Ownershipynapmoc & etfot ApS registered as owner (100%)
Related companies
Same industry in København
- Genmab A/S676 employees
- 3shape A/S518 employees
- Carlsberg A/S107 employees
- IQVIA RDS Denmark A/S100 employees
- Nuevolution A/S100 employees
- Sunshine Enterprise Holding A/S73 employees
Same people in management
- Netcompany A/Svia André Rafal Rogaczewski
- Genmab A/Svia Leif Helth Jensen
- Zealand Pharma A/Svia Anders Vadsholt
- AJ Vaccines A/Svia Ole Vahlgren
- Berlingske Media A/Svia André Rafal Rogaczewski
- Auction Group A/Svia André Rafal Rogaczewski
Largest in the industry
- Carlsberg A/SDKK 40.2bn
- Zealand Pharma A/SDKK 9.2bn
- Gubra A/SDKK 2.6bn
- Vestas Wind Systems A/SDKK 2.5bn
- Bang & Olufsen A/SDKK 1.4bn
- 3shape A/SDKK 1.3bn
Source and updates
The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 24/10/2026. The company is protected against advertising; contact details are not shown, and the data must not be used for marketing.