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NMD Pharma A/S

Public limited companyCVR 36899069Aarhus NActive

NMD Pharma A/S is a public limited company, based in Aarhus N, active in research and experimental development on natural sciences and engineering, founded in 2015. The company made a loss in both 2024 and 2025, most recently DKK 33m. With 64 employees, the company is about 13 times larger than the industry median. Equity fell to DKK 12.4m in 2025.

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Key figures · financial year 2025

Gross profit−DKK 26.1m+6.5% vs. 2024
Net profit−DKK 33m−2.3% vs. 2024
EquityDKK 12.4m−64.9% vs. 2024
Employees64latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • The loss grew: from DKK 32.3m to DKK 33m (2024 → 2025).
  • Equity fell 65% (2024 → 2025), to DKK 12.4m.

Employees

  • 11 more employees than a year earlier: 64 (07/2026) against 53 (07/2025).

Management and owners, last 24 months

  • New in management: João Carlos Ribas de Almeida (board member, 13/02/2025), Ivan Andreevich Burkov (board member, 01/05/2025) and Anja Ulrike Harmeier (board member, 02/04/2026) (+1).
  • Stepped down: Morten Døssing (board member, 13/02/2025), Sabine Kohar Dandiguian (board member, 08/05/2026) and David William Evans (board member, 02/04/2026) (+1).
  • New owners registered: Roche Finance Ltd. (12/08/2025), Jeito S.L.P. (12/08/2025) and INKEF Holding Coöperatief U.A. (30/06/2026).
  • No longer registered as owner: Stichting Depositary Inkef Investment Fund (30/06/2026), Roche Finance Ltd. (11/08/2025) and Jeito S.L.P. (11/08/2025).

Registrations, last 24 months

  • 08/12/2025: Share capital changed from 5,497,309 DKK to 5,497,789 DKK
  • 12/08/2025: Share capital changed from 5,156,710 DKK to 5,497,309 DKK
  • 01/01/2025: Industry changed to Research and experimental development on natural sciences and engineering (721000)
  • 14/11/2024: Share capital changed from 4,305,211 DKK to 5,156,710 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 40m−DKK 30m−DKK 20m−DKK 10mDKK 0DKK 10mDKK 20mDKK 30mDKK 40m202020212022202320242025
EquityNet profit
Financial figures for NMD Pharma A/S
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Gross profit−7,870−11,029−9,480−19,182−27,874−26,063+6.5%
Operating profit (EBIT)−10,613−14,253−12,980−23,241−33,853−34,083−0.7%
Profit before tax−10,665−14,351−13,061−23,138−32,990−33,722−2.2%
Net profit−9,928−13,614−12,324−22,401−32,254−32,985−2.3%
Total assets11,4894,92027,13946,39339,39423,005−41.6%
Equity9,2432,59625,13342,67335,39512,410−64.9%
Liabilities2,2452,3242,0063,7203,99910,595+164.9%
Cash and cash equivalents9,4493,81625,82145,06038,08121,349−43.9%
Average number of employees222626313649+36.1%

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 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.

  • Equity fell sharply

    Equity fell 65% from 2024 to 2025 (DKK 35.4m to DKK 12.4m).

    How is this calculated?

    Equity has fallen by at least 30% from the previous annual report, and it was positive 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
Annual reports for NMD Pharma A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202511/06/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202430/06/2025The companyPDFXBRL
202301/01/2023 – 31/12/202324/06/2024The companyPDFXBRL
202201/01/2022 – 31/12/202204/07/2023The companyPDFXBRL
202101/01/2021 – 31/12/202115/06/2022The companyPDFXBRL
202001/01/2020 – 31/12/202017/06/2021The 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
01020304050607008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
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 26.1mNo. 409 of 421
Better than 3% of the companies in the industry
EquityDKK 12.4mNo. 130 of 431
Better than 70% of the companies in the industry
Number of employees64No. 40 of 431
Better than 91% 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 50–199 employees4,467 companies in the comparison
No. 4,391of 4,412
Better than 0%
No. 2,682of 4,466
Better than 40%
Same industry and 50–199 employees27 companies in the comparison
No. 26of 26
Better than 0%
No. 25of 27
Better than 8%
Companies that are between 5 and 14 years old33,688 companies in the comparison
No. 33,556of 33,588
Better than 0%
No. 3,232of 33,687
Better than 90%
All companies of type A/S18,025 companies in the comparison
No. 17,739of 17,786
Better than 0%
No. 7,907of 18,024
Better than 56%

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. NMD Pharma A/S−DKK 26.1m
  2. Carlsberg A/SDKK 40.2bn
  3. Zealand Pharma A/SDKK 9.2bn
Net profit
  1. NMD Pharma A/S−DKK 33m
  2. Carlsberg A/SDKK 7bn
  3. Zealand Pharma A/SDKK 6.5bn
Equity
  1. NMD Pharma A/SDKK 12.4m
  2. Carlsberg A/SDKK 30.7bn
  3. Zealand Pharma A/SDKK 14.8bn
Employees
  1. NMD Pharma A/S64
  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
NMD Pharma A/S

Management

9 active registrations

Executive management

Executive management at NMD Pharma A/S
NameRoleAppointed
Thomas Holm PedersenDirector07/05/2015

Board of directors

Board of directors at NMD Pharma A/S
NameRoleAppointed
Christian Ellebæk EllingBoard member02/06/2016
Jeremy Paul SpringhornBoard member23/05/2019
Michael Thomas HeffernanChair of the board15/12/2022
Thomas Holm PedersenBoard member13/11/2023
João Carlos Ribas de AlmeidaBoard member13/02/2025
Ivan Andreevich BurkovBoard member01/05/2025
Anja Ulrike HarmeierBoard member02/04/2026
Mahieddine El Mahdi AïnoucheBoard member08/05/2026
Founders
Claus Olesen Holding ApS, ALSOF Holding ApS, OBNmotus holding ApS
Former management (13)
Former management at NMD Pharma A/S
NameRoleAppointedResigned
Claus Elsborg OlesenBoard member02/06/201605/03/2018
Stephan ChristgauBoard member02/06/201615/02/2017
Patrick Volkert Jozef Johannes VinkChair of the board02/06/201615/12/2022
Morten DøssingBoard member15/02/201713/02/2025
Lucas Antoine de BreedBoard member05/03/201823/05/2019
Anja Ulrike DR HarmeierBoard member05/03/201823/04/2020
Paul Brian LittleDeputy board member19/11/201810/08/2019
Fiona MacLaughlinBoard member23/05/201923/04/2020
Roel BulthuisBoard member23/04/202001/05/2023
Monique Claude SchiersingBoard member08/06/202004/02/2022
Sabine Kohar DandiguianBoard member04/02/202208/05/2026
David William EvansBoard member04/02/202202/04/2026
Simone BottiBoard member01/05/202301/05/2025

Signing rule: Selskabet tegnes af bestyrelsens formand i forening med en direktør, eller af bestyrelsens formand i forening med et andet bestyrelsesmedlem, eller af et bestyrelsesmedlem i forening med en direktør, eller af den samlede bestyrelse

Address and production units

2 active production units

Palle Juul-Jensens Boulevard 82
8200 Aarhus N

Aarhus Municipality · Postcode 8200

Other companies at the address (6)

Production units
Production unitAddressEmployeesP number
NMD Pharma A/SPalle Juul-Jensens Boulevard 82, 8200 Aarhus N461020416218
NMD Pharma Kbh.Fruebjergvej 3, 2100 København Ø171029145233

Purpose

Selskabets formål er at drive virksomhed med forskning og udarbejdelse af stoffer, herunder til medicinalindustrien, samt enhver i forbindelse hermed stående virksomhed.

The purpose is quoted from the register in Danish.

Changes year by year

110 registered events
20267 changesownership 2 · accounts 1 · management 4
  • INKEF Holding Coöperatief U.A. registered as owner (15%)
  • Stichting Depositary Inkef Investment Fund is no longer registered as owner
  • Annual report for 2025 published
  • Mahieddine El Mahdi Aïnouche appointed board member
  • Sabine Kohar Dandiguian stepped down as board member
  • Anja Ulrike Harmeier appointed board member
  • David William Evans stepped down as board member
202512 changescapital 2 · ownership 4 · accounts 1 · management 4 · industry 1
  • Share capital changed from 5,497,309 DKK to 5,497,789 DKK
  • Share capital changed from 5,156,710 DKK to 5,497,309 DKK
  • Jeito S.L.P. registered as owner (33.33%)
  • Roche Finance Ltd. registered as owner (10%)
  • Jeito S.L.P. is no longer registered as owner
  • Roche Finance Ltd. is no longer registered as owner
  • Annual report for 2024 published
  • Ivan Andreevich Burkov appointed board member
  • Simone Botti stepped down as board member
  • João Carlos Ribas de Almeida appointed board member
  • Morten Døssing stepped down as board member
  • Industry changed to Research and experimental development on natural sciences and engineering (721000)
20242 changescapital 1 · accounts 1
  • Share capital changed from 4,305,211 DKK to 5,156,710 DKK
  • Annual report for 2023 published
202311 changesmanagement 3 · capital 1 · ownership 6 · accounts 1
  • Thomas Holm Pedersen appointed board member
  • Share capital changed from 2,942,814 DKK to 4,305,211 DKK
  • Jeito S.L.P. registered as owner (25%)
  • Novo Holdings A/S registered as owner (15%)
  • LUNDBECKFOND INVEST A/S registered as owner (15%)
  • Jeito S.L.P. is no longer registered as owner
  • Novo Holdings A/S is no longer registered as owner
  • LUNDBECKFOND INVEST A/S is no longer registered as owner
  • Annual report for 2022 published
  • Simone Botti appointed board member
  • Roel Bulthuis stepped down as board member
202216 changesmanagement 5 · capital 2 · ownership 7 · accounts 1 · address 1
  • Michael Thomas Heffernan appointed chair of the board
  • Patrick Volkert Jozef Johannes Vink stepped down as chair of the board
  • Share capital changed from 2,227,506 DKK to 2,942,814 DKK
  • Stichting Depositary Inkef Investment Fund registered as owner (15%)
  • Jeito S.L.P. registered as owner (15%)
  • Roche Finance Ltd. registered as owner (15%)
  • Jeito S.L.P. is no longer registered as owner
  • Stichting Depositary Inkef Investment Fund is no longer registered as owner
  • Roche Finance Ltd. is no longer registered as owner
  • Annual report for 2021 published
  • Moved to Palle Juul-Jensens Boulevard 82, 8200 Aarhus N
  • Share capital changed from 1,691,026 DKK to 2,227,506 DKK
  • David William Evans appointed board member
  • Sabine Kohar Dandiguian appointed board member
  • Monique Claude Schiersing stepped down as board member
  • Jeito S.L.P. registered as owner (10%)
20218 changesaddress 2 · accounts 1 · capital 1 · ownership 4
  • Moved to Palle Juul-Jensens Boulevard 82, 8200 Aarhus N
  • Moved to Palle Juul-Jensens Boulevard 82, 8200 Aarhus N
  • Annual report for 2020 published
  • Share capital changed from 1,440,640 DKK to 1,691,026 DKK
  • Novo Holdings A/S registered as owner (20%)
  • LUNDBECKFOND INVEST A/S registered as owner (20%)
  • LUNDBECKFOND INVEST A/S is no longer registered as owner
  • Novo Holdings A/S is no longer registered as owner
202010 changesaddress 1 · capital 1 · management 4 · ownership 4
  • Moved to Palle Juul-Jensens Boulevard 82, 8200 Aarhus N
  • Share capital changed from 1,047,178 DKK to 1,440,640 DKK
  • Monique Claude Schiersing appointed board member
  • Stichting Depositary Inkef Investment Fund registered as owner (20%)
  • Roche Finance Ltd. registered as owner (20%)
  • Roche Finance Ltd. is no longer registered as owner
  • Stichting Depositary Inkef Investment Fund is no longer registered as owner
  • Roel Bulthuis appointed board member
  • Fiona MacLaughlin stepped down as board member
  • Anja Ulrike DR Harmeier stepped down as board member
201911 changesmanagement 4 · capital 1 · ownership 5 · industry 1
  • Paul Brian Little stepped down as deputy board member
  • Fiona MacLaughlin appointed board member
  • Jeremy Paul Springhorn appointed board member
  • Lucas Antoine de Breed stepped down as board member
  • Share capital changed from 653,716 DKK to 1,047,178 DKK
  • Roche Finance Ltd. registered as owner (15%)
  • Stichting Depositary Inkef Investment Fund registered as owner (15%)
  • ALSOF Holding ApS is no longer registered as owner
  • Roche Finance Ltd. is no longer registered as owner
  • Stichting Depositary Inkef Investment Fund is no longer registered as owner
  • Industry changed to Anden forskning og eksperimentel udvikling inden for naturvidenskab og teknik (721900)
201812 changesmanagement 4 · name 1 · capital 1 · ownership 6
  • Paul Brian Little appointed deputy board member
  • Name changed from NMD Pharma ApS to NMD Pharma A/S
  • Share capital changed from 175,000 DKK to 653,716 DKK
  • Anja Ulrike DR Harmeier appointed board member
  • Lucas Antoine de Breed appointed board member
  • Claus Elsborg Olesen stepped down as board member
  • ALSOF Holding ApS registered as owner (5%)
  • Roche Finance Ltd. registered as owner (10%)
  • Stichting Depositary Inkef Investment Fund registered as owner (10%)
  • Styrelsen for Forskning og Uddannelse is no longer registered as owner
  • CLAUS OLESEN HOLDING ApS is no longer registered as owner
  • ALSOF Holding ApS is no longer registered as owner
20172 changesmanagement 2
  • Morten Døssing appointed board member
  • Stephan Christgau stepped down as board member
201614 changesaddress 1 · capital 1 · management 4 · ownership 8
  • Moved to Åbogade 15, 8200 Aarhus N
  • Share capital changed from 50,000 DKK to 175,000 DKK
  • Stephan Christgau appointed board member
  • Christian Ellebæk Elling appointed board member
  • Claus Elsborg Olesen appointed board member
  • Patrick Volkert Jozef Johannes Vink appointed chair of the board
  • LUNDBECKFOND INVEST A/S registered as owner (25%)
  • ALSOF Holding ApS registered as owner (20%)
  • Styrelsen for Forskning og Uddannelse registered as owner (5%)
  • Novo Holdings A/S registered as owner (25%)
  • CLAUS OLESEN HOLDING ApS registered as owner (5%)
  • CLAUS OLESEN HOLDING ApS is no longer registered as owner
  • OBNmotus holding ApS is no longer registered as owner
  • ALSOF Holding ApS is no longer registered as owner
20155 changesownership 3 · founded 1 · management 1
  • CLAUS OLESEN HOLDING ApS registered as owner (20%)
  • OBNmotus holding ApS registered as owner (10%)
  • ALSOF Holding ApS registered as owner (66.67%)
  • Registered as NMD Pharma ApS
  • Thomas Holm Pedersen appointed director

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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