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Initiator Pharma A/S

Public limited companyCVR 37663808København NActive

Initiator Pharma A/S is a public limited company, based in København N, active in research and experimental development on natural sciences and engineering, founded in 2016. The company made a loss in both 2024 and 2025, most recently DKK 13.7m. Equity grew to DKK 29.5m in 2025. 8 other companies in the database are registered at the same address.

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Key figures · financial year 2025

Gross profit−DKK 14.8m−33.9% vs. 2024
Net profit−DKK 13.7m−5.8% vs. 2024
EquityDKK 29.5m+99.9% vs. 2024
Employees3latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • The loss grew: from DKK 12.9m to DKK 13.7m (2024 → 2025).
  • Equity rose 100% (2024 → 2025), to DKK 29.5m.

Employees

  • 1 fewer employees than a year earlier: 3 (07/2026) against 4 (07/2025).

Management and owners, last 24 months

  • New in management: Majken Christina Östberg Lloyd (board member, 29/05/2026) and Göran Albert Torstensson Ando (board member, 23/05/2025).
  • Stepped down: Henrik Kristian Moltke (board member, 23/05/2025) and Göran Albert Torstensson Ando (board member, 29/05/2026).

Registrations, last 24 months

  • 15/07/2025: Share capital changed from 7,165,110 DKK to 7,187,554 DKK
  • 01/07/2025: Share capital changed from 5,896,628 DKK to 7,165,110 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 thousand

Equity and net profit

−DKK 40m−DKK 30m−DKK 20m−DKK 10mDKK 0DKK 10mDKK 20mDKK 30m202020212022202320242025
EquityNet profit
Financial figures for Initiator Pharma A/S
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit−9,299−22−38,425−23,413−11,073−14,828−33.9%
Operating profit (EBIT)−10,531−23−41,740−27,030−14,502−17,781−22.6%
Profit before tax−10,240−24−44,132−27,707−14,836−16,696−12.5%
Net profit−8,697−21−38,455−22,873−12,932−13,687−5.8%
Total assets15,6035448,34529,78615,83533,759+113.2%
Equity14,4093534,02311,16214,78229,546+99.9%
Liabilities1,194514,32218,6241,0534,213+300.1%
Cash and cash equivalents13,5043439,11224,33613,37126,245+96.3%
Average number of employees1–3221−50%

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

−DKK 40m−DKK 35m−DKK 30m−DKK 25m−DKK 20m−DKK 15m−DKK 10m−DKK 5mDKK 0202020212022202320242025
Gross profitMedian, the industry (431 companies)

Signals from the financial statements

calculated from the 2025 figures

  • 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.

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
Annual reports for Initiator Pharma A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202510/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202426/06/2025The companyPDF not statedXBRL
202301/01/2023 – 31/12/202312/06/2024The companyPDF not statedXBRL
202201/01/2022 – 31/12/202208/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202109/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202009/06/2021The companyPDFXBRL

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 CVR
024681008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

431 companies in the database

Comparison with the other companies in research and experimental development on natural sciences and engineering based on the latest financial year.

Gross profit−DKK 14.8mNo. 404 of 421
Better than 4% of the companies in the industry
EquityDKK 29.5mNo. 83 of 431
Better than 81% of the companies in the industry
Number of employees3No. 351 of 431
Better than 19% of the companies in the industry

Industry median: gross profit DKK 616k, net profit −DKK 892k, equity DKK 2m, 5 employees.

DKK 100kDKK 2.5mDKK 63.4mDKK 1.6bnDKK 13.7bn
Distribution of gross profit for 250 companies in the industry (latest financial year, logarithmic scale). Amber bar: where this company sits.

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with fewer than 20 employees69,967 companies in the comparison
No. 69,683of 69,742
Better than 0%
No. 4,515of 69,964
Better than 94%
Same industry and fewer than 20 employees329 companies in the comparison
No. 316of 323
Better than 2%
No. 27of 329
Better than 92%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 33,535of 33,588
Better than 0%
No. 1,754of 33,687
Better than 95%
All companies of type A/S18,025 companies in the comparison
No. 17,720of 17,786
Better than 0%
No. 4,957of 18,024
Better than 73%

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 engineering
Gross profit
  1. Initiator Pharma A/S−DKK 14.8m
  2. Carlsberg A/SDKK 40.2bn
  3. Zealand Pharma A/SDKK 9.2bn
Net profit
  1. Initiator Pharma A/S−DKK 13.7m
  2. Carlsberg A/SDKK 7bn
  3. Zealand Pharma A/SDKK 6.5bn
Equity
  1. Initiator Pharma A/SDKK 29.5m
  2. Carlsberg A/SDKK 30.7bn
  3. Zealand Pharma A/SDKK 14.8bn
Employees
  1. Initiator Pharma A/S3
  2. Carlsberg A/S107
  3. 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 Register
Owners
  • Linc AB10%
  • Adrigo Asset Management5%
Initiator Pharma A/S

Management

7 active registrations

Executive management

Executive management at Initiator Pharma A/S
NameRoleAppointed
Claus Elsborg OlesenDirector02/05/2016

Board of directors

Board of directors at Initiator Pharma A/S
NameRoleAppointed
Gunnar Magnus Severus Modée PerssonChair of the board19/09/2016
Peter Joakim HolmBoard member19/09/2016
Claus Elsborg OlesenBoard member20/01/2017
Annette Ingegerd Marie ColinBoard member14/01/2021
Ylva Gunilla EkströmBoard member24/05/2022
Majken Christina Östberg LloydBoard member29/05/2026
Founders
Claus Olesen Holding ApS, Simonsen og Mogensen Holding ApS, DanPET AB
Former management (5)
Former management at Initiator Pharma A/S
NameRoleAppointedResigned
Claus Elsborg OlesenBoard member02/05/201619/09/2016
Ulf SimonsenBoard member02/05/201619/09/2016
Dan Leif PetersBoard member02/05/201619/09/2016
Henrik Kristian MoltkeBoard member19/09/201623/05/2025
Göran Albert Torstensson AndoBoard member23/05/202529/05/2026

Signing rule:  Selskabet tegnes af en direktør i forening med et bestyrelsesmedlem eller af to bestyrelsesmedlemmer i forening eller af den samlede bestyrelse.

Address and production units

1 active production units

Ole Maaløes Vej 3
2200 København N

København Municipality · Postcode 2200

Other companies at the address (8)

  • BII Holdings A/SOther financial service activities n.e.c.
  • Skape Bio ApSResearch and experimental development on natural sciences and engineering
  • Agrobiomics ApSResearch and experimental development on natural sciences and engineering
  • Tetrakit Technologies ApSResearch and experimental development on natural sciences and engineering
  • BioColor ApSResearch and experimental development on natural sciences and engineering
Production units
Production unitAddressEmployeesP number
Initiator Pharma A/SOle Maaløes Vej 3, 2200 København N11021395222

Purpose

Selskabets formål er at forske, udvikle, producere og sælge lægemidler og lægemiddelkandidater, relaterede teknologier, service og andre beslægtede forretningsområder efter bestyrelsens skøn.

The purpose is quoted from the register in Danish.

Changes year by year

74 registered events
20263 changesaccounts 1 · management 2
  • Annual report for 2025 published
  • Majken Christina Östberg Lloyd appointed board member
  • Göran Albert Torstensson Ando stepped down as board member
20256 changescapital 2 · accounts 1 · management 2 · industry 1
  • Share capital changed from 7,165,110 DKK to 7,187,554 DKK
  • Share capital changed from 5,896,628 DKK to 7,165,110 DKK
  • Annual report for 2024 published
  • Göran Albert Torstensson Ando appointed board member
  • Henrik Kristian Moltke stepped down as board member
  • Industry changed to Research and experimental development on natural sciences and engineering (721000)
20244 changescapital 3 · accounts 1
  • Share capital changed from 5,885,235 DKK to 5,896,628 DKK
  • Annual report for 2023 published
  • Share capital changed from 5,564,075 DKK to 5,885,235 DKK
  • Share capital changed from 5,509,548 DKK to 5,564,075 DKK
20232 changescapital 1 · accounts 1
  • Share capital changed from 5,497,998 DKK to 5,509,548 DKK
  • Annual report for 2022 published
20225 changescapital 3 · accounts 1 · management 1
  • Share capital changed from 4,889,338 DKK to 5,497,998 DKK
  • Share capital changed from 4,876,108 DKK to 4,889,338 DKK
  • Annual report for 2021 published
  • Ylva Gunilla Ekström appointed board member
  • Share capital changed from 4,596,109 DKK to 4,876,108 DKK
20218 changescapital 3 · ownership 2 · accounts 1 · address 1 · management 1
  • Share capital changed from 3,760,453 DKK to 4,596,109 DKK
  • Linc AB registered as owner (10%)
  • Adrigo Asset Management registered as owner (5%)
  • Annual report for 2020 published
  • Share capital changed from 2,909,101 DKK to 3,760,453 DKK
  • Moved to Ole Maaløes Vej 3, 2200 København N
  • Annette Ingegerd Marie Colin appointed board member
  • Share capital changed from 2,875,069 DKK to 2,909,101 DKK
20203 changescapital 3
  • Share capital changed from 2,684,570 DKK to 2,875,069 DKK
  • Share capital changed from 2,535,428 DKK to 2,684,570 DKK
  • Share capital changed from 2,477,094 DKK to 2,535,428 DKK
20191 changecapital 1
  • Share capital changed from 2,431,504 DKK to 2,477,094 DKK
20188 changescapital 2 · ownership 6
  • Share capital changed from 1,823,628 DKK to 2,431,504 DKK
  • Share capital changed from 911,814 DKK to 1,823,628 DKK
  • Jørgen Drejer is no longer registered as owner
  • Thomas Feldthus is no longer registered as owner
  • CLAUS OLESEN HOLDING ApS is no longer registered as owner
  • MIKAEL SØNDERGÅRD THOMSEN ApS is no longer registered as owner
  • Simonsen og Mogensen Holding ApS is no longer registered as owner
  • DanPET AB is no longer registered as owner
201714 changesownership 12 · capital 1 · management 1
  • Jørgen Drejer registered as owner (5%)
  • Thomas Feldthus registered as owner (5%)
  • CLAUS OLESEN HOLDING ApS registered as owner (5%)
  • MIKAEL SØNDERGÅRD THOMSEN ApS registered as owner (5%)
  • Simonsen og Mogensen Holding ApS registered as owner (5%)
  • DanPET AB registered as owner (5%)
  • Thomas Feldthus is no longer registered as owner
  • Jørgen Drejer is no longer registered as owner
  • DanPET AB is no longer registered as owner
  • MIKAEL SØNDERGÅRD THOMSEN ApS is no longer registered as owner
  • CLAUS OLESEN HOLDING ApS is no longer registered as owner
  • Simonsen og Mogensen Holding ApS is no longer registered as owner
  • Share capital changed from 521,037 DKK to 911,814 DKK
  • Claus Elsborg Olesen appointed board member
201620 changesownership 8 · management 10 · capital 1 · founded 1
  • Thomas Feldthus registered as owner (5%)
  • Jørgen Drejer registered as owner (5%)
  • Saniona AB is no longer registered as owner
  • Gunnar Magnus Severus Modée Persson appointed chair of the board
  • Henrik Kristian Moltke appointed board member
  • Peter Joakim Holm appointed board member
  • Claus Elsborg Olesen stepped down as board member
  • Dan Leif Peters stepped down as board member
  • Ulf Simonsen stepped down as board member
  • Share capital changed from 500,000 DKK to 521,037 DKK
  • Registered as Initiator Pharma A/S
  • Claus Elsborg Olesen appointed board member
  • Claus Elsborg Olesen appointed director
  • Dan Leif Peters appointed board member
  • Ulf Simonsen appointed board member
  • DanPET AB registered as owner (10%)
  • MIKAEL SØNDERGÅRD THOMSEN ApS registered as owner (10%)
  • CLAUS OLESEN HOLDING ApS registered as owner (10%)
  • Saniona AB registered as owner (50%)
  • Simonsen og Mogensen Holding ApS registered as owner (10%)

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Same people in management

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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.

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