NOVO NORDISK A/S

Headquarters: Bagsværd, Denmark | Founded: 1923 | Employees: ~54,400 | Status: Public (NASDAQ: NVO, OMXCPH: NOVO-B) | Website: novonordisk.com | Market Cap: ~$309B

Novo Nordisk dominates diabetes and obesity biologics with the world's most valuable pipeline in metabolic disease. The company commands ~34% of the global insulin market and has revolutionized obesity treatment with semaglutide-based therapies. Key pipeline programs include CagriSema (cagrilintide + semaglutide), which achieved 22.7% weight loss in REDEFINE 1 Phase 3 trials—NDA filed 2025. Amycretin, a single-molecule GLP-1/amylin dual agonist, is advancing to Phase 3 after demonstrating 2.2% HbA1c reduction and 15.6% weight loss in Phase 2. The Mim8 bispecific antibody for haemophilia A received BLA submission September 2025. Recent strategic deals include Septerna ($2.2B, May 2025), Deep Apple Therapeutics ($812M, June 2025), and Replicate Bioscience ($550M, August 2025). Manufacturing spans multiple Danish facilities in Bagsværd, Hillerød, Gentofte, Køge, Måløv, and Værløse with extensive in-house biologics capabilities.

GENMAB A/S

Headquarters: Copenhagen, Denmark | Founded: 1999 | Employees: ~2,500 | Status: Public (NASDAQ: GMAB) | Website: genmab.com | Market Cap: ~$15.9B

Genmab is a global antibody innovation leader with proprietary DuoBody (bispecific) and HexaBody (complement activation) platforms. Eight approved medicines incorporate Genmab technology, including Darzalex (daratumumab, with J&J) generating ~$12B annual sales for multiple myeloma, Tivdak (tisotumab vedotin, with Pfizer) for cervical cancer, and Epkinly (epcoritamab, with AbbVie) for DLBCL. The 20+ clinical pipeline includes the bispecific checkpoint inhibitor acasunlimab in Phase 3 for NSCLC. Strategic collaborations span AbbVie, Janssen/J&J, Pfizer, Amgen, BioNTech, and Seagen, generating substantial royalties. New Jersey site opened 2025 to support U.S. commercialisation.

H. LUNDBECK A/S

Headquarters: Valby, Copenhagen | Founded: 1915 | Employees: ~5,500 | Status: Public (OMXCPH: HLUN-B) | Website: lundbeck.com

Lundbeck specialises in psychiatric and neurological disorders with increasing biologics interest. Commercial products include Vyepti (eptinezumab), a CGRP-targeting monoclonal antibody for migraine prevention. Focus areas span depression, anxiety, schizophrenia, Alzheimer's, Parkinson's, and epilepsy. Global alliance with Otsuka Pharmaceutical drives CNS pipeline development. Lundbeckfonden BioCapital portfolio includes IO Biotech, NMD Pharma, and 18+ biotech companies.

LEO PHARMA A/S

Headquarters: Ballerup, Denmark | Founded: 1908 | Employees: ~4,700 | Status: Private (LEO Foundation-owned) | Website: leo-pharma.com | Revenue: DKK 10.6B (2022)

LEO Pharma focuses on dermatology therapeutics with increasing biologics pipeline targeting psoriasis, atopic dermatitis, and other skin conditions. Acquired Bayer's dermatology unit (2018) expanding portfolio. In-house production facilities in Denmark.

ALK-ABELLØ A/S

Headquarters: Hørsholm, Denmark | Founded: 1923 | Employees: ~2,800 | Status: Public (OMXCPH: ALK-B) | Website: alk.net | Market Cap: ~$4.9B

Global leader in allergy immunotherapy biologics, developing treatments addressing the root cause of allergies rather than symptoms. Products include tablet immunotherapies for grass pollen, house dust mite, ragweed, and tree pollen allergies.

ASCENDIS PHARMA A/S

Headquarters: Hellerup, Denmark | Founded: 2006 | Employees: ~800 | Status: Public (NASDAQ: ASND) | Website:ascendispharma.com| Market Cap: ~$10.5B

Ascendis leverages proprietary TransCon (transient conjugation) technology to create prodrug therapies requiring less frequent dosing. SKYTROFA (lonapegsomatropin) FDA-approved 2021 for pediatric growth hormone deficiency, weekly injection replacing daily shots, €47.2M Q3 2024 revenue with 60% YoY growth. YORVIPATH(palopegteriparatide) approved by European Commission (2023) and FDA (2024) for chronic hypoparathyroidism, first and only PTH replacement therapy. Novo Nordisk granted exclusive worldwide license to TransCon platform for metabolic diseases (November 2024).

ZEALAND PHARMA A/S

Headquarters: Søborg, Denmark | Founded: 1998 | Employees: ~500 | Status: Public (OMXCPH: ZEAL) | Website:zealandpharma.com | Market Cap: ~$9.6B

Zealand specialises in next-generation peptide therapeutics with focus on obesity and metabolic diseases. Petrelintide (long-acting amylin analog) in Phase 2 ZUPREME-1 with Roche partnership topline data expected H1 2026. Survodutide (GLP-1/glucagon dual agonist) licensed to Boehringer Ingelheim achieved breakthrough Phase 2 results for MASH with liver fibrosis improvement. Revenue DKK 9.1B (9M 2025), cash position DKK 16.2B.

BAVARIAN NORDIC A/S

Headquarters: Kvistgård, Denmark | Founded: 1994 | Employees: ~1,200 | Status: Public (OMXCPH: BAVA) | Website: bavarian-nordic.com | Market Cap: ~$3B

Global vaccine leader with proprietary MVA-BN platform. JYNNEOS/Imvanex (smallpox/mpox vaccine) FDA-approved freeze-dried formulation March 2025— 15M+ doses produced, preferred government supplier. VIMKUNYA (chikungunya vaccine) FDA/EMA approved February 2025 for ages 12+, first chikungunya vaccine approved for adolescents. Manufacturing includes large-scale Kvistgård facility with $75M fill/finish expansion and acquired 16,000m² Bern, Switzerland plant from Emergent BioSolutions ($270M, 2023).

IO BIOTECH APS

Headquarters: Copenhagen, Denmark | Founded: 2014 | Employees: ~100 | Status: Public (NASDAQ: IOBT) | Website: iobiotech.com

Develops therapeutic cancer vaccines using T-win platform targeting tumour microenvironment. Cylembio(IO102-IO103) combines IDO and PD-L1 targeting vaccines, Phase 3 in combination with Merck's Keytruda for unresectable/metastatic melanoma following Breakthrough Therapy Designation. Named 9th most innovative biotech in Fast Company's "World's Most Innovative Companies of 2025."

SYMPHOGEN A/S (Servier Subsidiary)

Headquarters: Copenhagen, Denmark | Founded: 2000 | Employees: ~250 | Status: Private (Servier-owned since 2020) | Website: symphogen.com

Specialises in antibody therapeutics discovery using proprietary Symplex technology for identifying optimal antibody combinations. Multiple programs in oncology/immuno-oncology now integrated within Servier's pipeline.

ADCENDO APS

Location: Frederiksberg | Founded: 2018 | Website: adcendo.com

Develops antibody-drug conjugates targeting uPARAP receptor. ADCE-D01 first patient dosed Phase 1/2 ADCELERATE1 trial for metastatic soft tissue sarcoma (June 2025). ADCE-T02 FDA IND clearance February 2025. Funding: $135M Series B completed November 2024 (oversubscribed).

ANTAG THERAPEUTICS APS

Location: Copenhagen | Founded: 2020 | Website: antagtx.com

Develops peptide therapies targeting GIP receptor for obesity with improved tolerability. AT-7687 Phase 1a initiated April 2025. Funding: €80M ($84M) Series A (December 2024) led by Versant Ventures with Novo Holdings participation.

GUBRA A/S

Location: Hørsholm | Founded: 2008 | Website: gubra.dk

Dual CRO/discovery business in metabolic and fibrotic diseases. GUB014295 (long-acting amylin analog) Phase 1, licensed to AbbVie March 2025: $350M upfront, up to $1.875B milestones plus royalties. BI 3034701 (triple agonist) Phase 1, licensed to Boehringer Ingelheim.

MUNA THERAPEUTICS APS

Location: Frederiksberg | Founded: 2021 | Website: munatherapeutics.com

Develops small molecule therapies targeting microglia for neurodegenerative diseases. Lead TREM2 agonism program for Alzheimer's advancing to clinical testing. GSK strategic alliance (December 2024) for novel target identification. Funding: $73M Series A from Novo Holdings.

MINERVAX APS

Location: Copenhagen | Founded: 2011 | Website: minervax.com

Prophylactic vaccine against group B Streptococcus for maternal immunization. Two Phase 2 trials completed with acceptable safety and high immunogenicity. Funding: €54M raised 2023.

EVAXION BIOTECH A/S

Location: Hørsholm | Founded: 2008 | Status: Public (NASDAQ: EVAX) | Website: evaxion.ai

AI-immunology platform discovering vaccines and immunotherapies for cancer and bacterial diseases. Platforms include PIONEER, EDEN, and ObsERV for antigen identification.

SNIPR BIOME APS

Location: Copenhagen | Website: sniprbiome.com

Applies CRISPR and gene therapy to microbiome management, developing precision-targeted genetically modified bacteriophages for treating microbial diseases including previously untreatable infections.

AGC BIOLOGICS DENMARK (Copenhagen)

Website: agcbio.com | Employees: ~2,500 globally | Status: Private (AGC Inc., Japan subsidiary)

Copenhagen is AGC's largest global site with 30+ years expertise. New 19,000m² building completed June 2024 with 8 x 2,000L single-use bioreactor production lines, 500L perfusion bioreactor, two downstream purification lines, QC laboratories. Total 16,000L single-use capacity. Services span end-to-end mammalian and microbial CDMO including cell line development, cloning, cell banking, GMP manufacturing, full analytical development. €160 million ($192M) expansion completed 2024, creating 250-300 jobs, began operations January 2025. Certifications include ISO 14001/45001/50001, Gold EcoVadis, Danish Medicines Agency approved. Clients include Portola Pharmaceuticals, MacroGenics, Horizon Pharma.

FUJIFILM DIOSYNTH BIOTECHNOLOGIES (Hillerød)

Website: fujifilmbiotechnologies.fujifilm.com | Status: FUJIFILM Corporation subsidiary

World-leading CDMO for biologics, vaccines, and advanced therapies located 37km from Copenhagen. $1.6 billion (11 billion DKK) investment announced 2022. By 2026 completion, will offer 20 x 20,000L bioreactors the largest end-to-end cell culture CDMO in Europe. Full services from cell culture manufacturing through drug product and finished goods. Expansion created 450+ new jobs. Gold EcoVadis sustainability rating (top 5% globally).

NOVO NORDISK FOUNDATION CELLERATOR (Opening 2027)

Located at Technical University of Denmark (DTU) in Lyngby. DKK 950M investment for world-class cell therapy development facility supporting stem cell therapies (embryonic, iPSC, adult) from process development through GMP manufacturing.

BIONEER A/S (Hørsholm)

Website: bioneer.dk | Founded 1982, 40+ years experience. Process development and manufacturing of recombinant proteins including GMP process proteins; cell line development; iPSC technology; gene editing; human disease models.

21st.BIO A/S (Copenhagen)

Website: 21st.bio | Danish CDMO focused on bioproduction/precision fermentation with new pilot plant facility for scaling biotech processes, strain design through industrial-scale protein/peptide production.