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Muna Therapeutics ApS

Private limited companyCVR 41142871FrederiksbergActive

Muna Therapeutics ApS is a private limited company, based in Frederiksberg, active in manufacture of pharmaceutical preparations, founded in 2020. Equity was negative at the end of 2025 (−DKK 120.3m). The company made a loss in both 2024 and 2025, most recently DKK 125.7m. 8 other companies in the database are registered at the same address.

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Key figures · financial year 2025

Gross profit−DKK 60.6m+51.4% vs. 2024
Net profit−DKK 125.7m+27.6% vs. 2024
Equity−DKK 120.3m−743.1% vs. 2024
Employees18latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • The loss got smaller: from DKK 173.6m to DKK 125.7m (2024 → 2025).
  • Equity turned negative: −DKK 120.3m (2024 → 2025).

Employees

  • 4 fewer employees than a year earlier: 18 (07/2026) against 22 (07/2025).

Management and owners, last 24 months

  • New in management: Camilla Petrycer Hansen (board member, 30/01/2025), Luc Madeleine Albert Dochez (board member, 11/03/2025) and Michel Marcel A. Detheux (ceo, 26/06/2026) (+1).
  • Stepped down: Rita Balice-Gordon (ceo, 26/06/2026), Morten Døssing (board member, 30/01/2025) and Reza Halse (board member, 01/02/2025).

Registrations, last 24 months

  • 26/08/2025: Share capital changed from 1,342,422 DKK to 1,342,945 DKK
  • 05/05/2025: Share capital changed from 1,341,725 DKK to 1,342,422 DKK

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 200m−DKK 150m−DKK 100m−DKK 50mDKK 0DKK 50mDKK 100mDKK 150mDKK 200m202020212022202320242025
EquityNet profit
Financial figures for Muna Therapeutics ApS
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit−7,345−49,693−98,234−110,624−124,746−60,636+51.4%
Operating profit (EBIT)−10,187−61,469−122,450−142,518−163,723−94,615+42.2%
Profit before tax−10,231−66,383−133,182−145,751−168,612−131,195+22.2%
Net profit−7,382−61,518−127,682−140,320−173,625−125,695+27.6%
Total assets24,321184,064247,518168,210175,026311,124+77.8%
Equity16,658162,313202,045126,96018,713−120,338−743.1%
Liabilities7,66321,75145,44941,251156,313431,322+175.9%
Cash and cash equivalents13,125108,532168,270103,043113,499250,198+120.4%
Average number of employees37161818180%

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 140m−DKK 120m−DKK 100m−DKK 80m−DKK 60m−DKK 40m−DKK 20mDKK 0202020212022202320242025
Gross profitMedian, the industry (59 companies)

Signals from the financial statements

calculated from the 2025 figures

  • Negative equity

    Equity was −DKK 120.3m 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.

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 Muna Therapeutics ApS
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202502/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202427/05/2025The companyPDFXBRL
202301/01/2023 – 31/12/202328/05/2024The companyPDFXBRL
202201/01/2022 – 31/12/202228/06/2023The companyPDFXBRL
202101/01/2021 – 31/12/202108/06/2022The companyPDFXBRL
202022/01/2020 – 31/12/202026/05/2021The 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
051015202508/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

59 companies in the database

Comparison with the other companies in manufacture of pharmaceutical preparations based on the latest financial year.

Gross profit−DKK 60.6mNo. 54 of 57
Better than 5% of the companies in the industry
Equity−DKK 120.3mNo. 55 of 59
Better than 7% of the companies in the industry
Number of employees18No. 23 of 59
Better than 62% of the companies in the industry

Industry median: gross profit DKK 2.8m, net profit −DKK 2.2m, equity DKK 5.2m, 10 employees.

DKK 266kDKK 8.3mDKK 258mDKK 8bnDKK 79.6bn
Distribution of gross profit for 34 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. 69,733of 69,742
Better than 0%
No. 69,932of 69,964
Better than 0%
Same industry and fewer than 20 employees37 companies in the comparison
No. 35of 36
Better than 3%
No. 34of 37
Better than 8%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 33,577of 33,588
Better than 0%
No. 33,652of 33,687
Better than 0%
All companies of type ApS66,508 companies in the comparison
No. 66,372of 66,379
Better than 0%
No. 66,474of 66,505
Better than 0%

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

Manufacture of pharmaceutical preparations
Gross profit
  1. Muna Therapeutics ApS−DKK 60.6m
  2. Novo Nordisk A/SDKK 250.3bn
  3. H. Lundbeck A/SDKK 20.4bn
Net profit
  1. Muna Therapeutics ApS−DKK 125.7m
  2. Novo Nordisk A/SDKK 102.4bn
  3. H. Lundbeck A/SDKK 3.2bn
Equity
  1. Muna Therapeutics ApS−DKK 120.3m
  2. Novo Nordisk A/SDKK 194bn
  3. H. Lundbeck A/SDKK 24.9bn
Employees
  1. Muna Therapeutics ApS18
  2. Novo Nordisk A/S27,279
  3. H. Lundbeck A/S2,261

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
  • Axxam S.p.A.5%
  • Droia GD SCSp15%
  • LSP Dementia Fund Coöperatieve UA5%
  • Sanofi Foreign Participations B.V.5%
  • Rita Balice-Gordon5%
  • Sofinnova Capital IX15%
  • Novo Holdings A/S15%
Muna Therapeutics ApS

Management

10 active registrations

Executive management

Executive management at Muna Therapeutics ApS
NameRoleAppointed
Michel Marcel A. DetheuxCEO26/06/2026

Board of directors

Board of directors at Muna Therapeutics ApS
NameRoleAppointed
Henrijette Elsebeth RichterBoard member08/07/2021
Rita Balice-GordonBoard member08/07/2021
Cillian KingBoard member08/07/2021
Laia Crespo-MartinBoard member08/07/2021
Donald William NicholsonChair of the board15/09/2021
Eileen Elizabeth McGuireBoard member01/06/2022
Camilla Petrycer HansenBoard member30/01/2025
Luc Madeleine Albert DochezBoard member11/03/2025
Michel Marcel A. DetheuxBoard member12/08/2026
Founders
Camilla Gustafsen Consulting ApS, Peder Søndergaard Madsen Consulting ApS, Simon Glerup Consulting ApS, Joachim Vilstrup Holding ApS, S. Skeldal Holding ApS
Former management (15)
Former management at Muna Therapeutics ApS
NameRoleAppointedResigned
Peder Søndergaard MadsenChair of the board22/01/202003/06/2020
Joachim Pold VilstrupCEO22/01/202001/06/2020
Anders Mørkeberg HinsbyCEO01/06/202008/07/2021
Anders Mørkeberg HinsbyBoard member03/06/202008/07/2021
Camilla Petrycer HansenBoard member03/06/202008/07/2021
Simon Glerup PedersenBoard member03/06/202016/09/2020
Morten DøssingChair of the board03/06/202014/09/2021
Joachim Pold VilstrupBoard member16/09/202008/07/2021
Stefan LohmerBoard member29/12/202008/07/2021
Chiara Rossana Maria LiberatiBoard member19/03/202108/07/2021
Rita Balice-GordonCEO08/07/202126/06/2026
Luc DochezBoard member08/07/202115/11/2023
Isaac CiechanoverBoard member08/07/202101/06/2022
Morten DøssingBoard member15/09/202130/01/2025
Reza HalseBoard member15/11/202301/02/2025

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

Address and production units

1 active production units

Nordre Fasanvej 215
2000 Frederiksberg

Frederiksberg Municipality · Postcode 2000

Other companies at the address (8)

  • Sparrow Quantum ApSManufacture of computers and peripheral equipment
  • Adcendo ApSResearch and experimental development on natural sciences and engineering
  • Hemab ApSManufacture of pharmaceutical preparations
  • Orbis Medicines ApSResearch and experimental development on natural sciences and engineering
  • Minervax ApSResearch and experimental development on natural sciences and engineering
Production units
Production unitAddressEmployeesP number
Muna Therapeutics ApSNordre Fasanvej 215, 2000 Frederiksberg191025530949

Purpose

Selskabets formål er at forske i, udvikle, producere og sælge bioteknologiske produkter og medicinalprodukter samt anden virksomhed, der efter ledelsens skøn er forbundet dermed.

The purpose is quoted from the register in Danish.

Changes year by year

122 registered events
20264 changesmanagement 3 · accounts 1
  • Michel Marcel A. Detheux appointed board member
  • Michel Marcel A. Detheux appointed ceo
  • Rita Balice-Gordon stepped down as ceo
  • Annual report for 2025 published
20257 changescapital 2 · accounts 1 · management 4
  • Share capital changed from 1,342,422 DKK to 1,342,945 DKK
  • Annual report for 2024 published
  • Share capital changed from 1,341,725 DKK to 1,342,422 DKK
  • Luc Madeleine Albert Dochez appointed board member
  • Reza Halse stepped down as board member
  • Camilla Petrycer Hansen appointed board member
  • Morten Døssing stepped down as board member
20243 changesaccounts 1 · address 1 · capital 1
  • Annual report for 2023 published
  • Moved to Nordre Fasanvej 215, 2000 Frederiksberg
  • Share capital changed from 1,201,796 DKK to 1,341,725 DKK
20237 changescapital 1 · ownership 3 · management 2 · accounts 1
  • Share capital changed from 1,061,867 DKK to 1,201,796 DKK
  • Novo Holdings A/S registered as owner (15%)
  • VLAAMS INSTITUUT VOOR BIOTECHNOLOGIE - FLANDERS INSTITUTE FOR BIOTECHNOLOGY is no longer registered as owner
  • Novo Holdings A/S is no longer registered as owner
  • Reza Halse appointed board member
  • Luc Dochez stepped down as board member
  • Annual report for 2022 published
202212 changescapital 2 · ownership 7 · accounts 1 · management 2
  • Share capital changed from 702,047 DKK to 1,061,867 DKK
  • Rita Balice-Gordon registered as owner (5%)
  • Novo Holdings A/S registered as owner (20%)
  • Sanofi Foreign Participations B.V. registered as owner (5%)
  • Sofinnova Capital IX registered as owner (15%)
  • Novo Holdings A/S is no longer registered as owner
  • Rita Balice-Gordon is no longer registered as owner
  • Sofinnova Capital IX is no longer registered as owner
  • Annual report for 2021 published
  • Eileen Elizabeth McGuire appointed board member
  • Isaac Ciechanover stepped down as board member
  • Share capital changed from 675,979 DKK to 702,047 DKK
202144 changesmanagement 17 · capital 4 · ownership 22 · accounts 1
  • Donald William Nicholson appointed chair of the board
  • Morten Døssing appointed board member
  • Morten Døssing stepped down as chair of the board
  • Share capital changed from 245,801 DKK to 675,979 DKK
  • Isaac Ciechanover appointed board member
  • Rita Balice-Gordon appointed ceo
  • Luc Dochez appointed board member
  • Henrijette Elsebeth Richter appointed board member
  • Rita Balice-Gordon appointed board member
  • Cillian King appointed board member
  • Laia Crespo-Martin appointed board member
  • Chiara Rossana Maria Liberati stepped down as board member
  • Stefan Lohmer stepped down as board member
  • Joachim Pold Vilstrup stepped down as board member
  • Anders Mørkeberg Hinsby stepped down as board member
  • Camilla Petrycer Hansen stepped down as board member
  • Anders Mørkeberg Hinsby stepped down as ceo
  • VLAAMS INSTITUUT VOOR BIOTECHNOLOGIE - FLANDERS INSTITUTE FOR BIOTECHNOLOGY registered as owner (5%)
  • Novo Holdings A/S registered as owner (15%)
  • Rita Balice-Gordon registered as owner (10%)
  • LSP Dementia Fund Coöperatieve UA registered as owner (5%)
  • Droia GD SCSp registered as owner (15%)
  • Axxam S.p.A. registered as owner (5%)
  • Sofinnova Capital IX registered as owner (10%)
  • Rita Balice-Gordon is no longer registered as owner
  • Axxam S.p.A. is no longer registered as owner
  • Novo Holdings A/S is no longer registered as owner
  • Share capital changed from 176,556 DKK to 245,801 DKK
  • Rita Balice-Gordon registered as owner (25%)
  • Axxam S.p.A. registered as owner (25%)
  • Axxam S.p.A. is no longer registered as owner
  • Annual report for 2020 published
  • Share capital changed from 146,080 DKK to 176,556 DKK
  • Chiara Rossana Maria Liberati appointed board member
  • Axxam S.p.A. registered as owner (33.33%)
  • Axxam S.p.A. is no longer registered as owner
  • Share capital changed from 131,428 DKK to 146,080 DKK
  • Novo Holdings A/S registered as owner (33.33%)
  • S. Skeldal Holding ApS is no longer registered as owner
  • Joachim Vilstrup Holding ApS is no longer registered as owner
  • Simon Glerup Consulting ApS is no longer registered as owner
  • Peder Søndergaard Madsen Consulting ApS is no longer registered as owner
  • Camilla Gustafsen Consulting ApS is no longer registered as owner
  • Novo Holdings A/S is no longer registered as owner
202045 changescapital 2 · management 12 · ownership 29 · address 1 · founded 1
  • Share capital changed from 100,952 DKK to 131,428 DKK
  • Stefan Lohmer appointed board member
  • Axxam S.p.A. registered as owner (20%)
  • Joachim Pold Vilstrup appointed board member
  • Simon Glerup Pedersen stepped down as board member
  • Moved to Ole Maaløes Vej 3, 2200 København N
  • Share capital changed from 40,000 DKK to 100,952 DKK
  • Simon Glerup Pedersen appointed board member
  • Morten Døssing appointed chair of the board
  • Anders Mørkeberg Hinsby appointed board member
  • Camilla Petrycer Hansen appointed board member
  • Peder Søndergaard Madsen stepped down as chair of the board
  • Novo Holdings A/S registered as owner (33.33%)
  • S. Skeldal Holding ApS registered as owner (5%)
  • Joachim Vilstrup Holding ApS registered as owner (5%)
  • Simon Glerup Consulting ApS registered as owner (5%)
  • Peder Søndergaard Madsen Consulting ApS registered as owner (5%)
  • Camilla Gustafsen Consulting ApS registered as owner (5%)
  • WoB Holding ApS is no longer registered as owner
  • Peder Søndergaard Madsen Consulting ApS is no longer registered as owner
  • S. Skeldal Holding ApS is no longer registered as owner
  • Joachim Vilstrup Holding ApS is no longer registered as owner
  • Simon Glerup Consulting ApS is no longer registered as owner
  • Camilla Gustafsen Consulting ApS is no longer registered as owner
  • Anders Mørkeberg Hinsby appointed ceo
  • Joachim Pold Vilstrup stepped down as ceo
  • Peder Søndergaard Madsen Consulting ApS registered as owner (15%)
  • S. Skeldal Holding ApS registered as owner (15%)
  • Joachim Vilstrup Holding ApS registered as owner (15%)
  • WoB Holding ApS registered as owner (10%)
  • Simon Glerup Consulting ApS registered as owner (15%)
  • Camilla Gustafsen Consulting ApS registered as owner (15%)
  • Peder Søndergaard Madsen Consulting ApS is no longer registered as owner
  • S. Skeldal Holding ApS is no longer registered as owner
  • Joachim Vilstrup Holding ApS is no longer registered as owner
  • Simon Glerup Consulting ApS is no longer registered as owner
  • Camilla Gustafsen Consulting ApS is no longer registered as owner
  • Registered as Muna Therapeutics ApS
  • Peder Søndergaard Madsen appointed chair of the board
  • Joachim Pold Vilstrup appointed ceo
  • Peder Søndergaard Madsen Consulting ApS registered as owner (20%)
  • S. Skeldal Holding ApS registered as owner (20%)
  • Joachim Vilstrup Holding ApS registered as owner (20%)
  • Simon Glerup Consulting ApS registered as owner (20%)
  • Camilla Gustafsen Consulting ApS registered as owner (20%)

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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.

View in CVRReport a correction