Funded Biotechnology Startups in Denmark
Denmark's biotechnology funding activity across these 44 rows skews sharply toward Hovedstaden, with Copenhagen serving as the clear center of gravity.
Denmark's biotechnology funding activity across these 44 rows skews sharply toward Hovedstaden, with Copenhagen serving as the clear center of gravity. The upper end of the dataset is defined by Zealand Pharma's $1.0B raise in June 2024 — the single largest disclosed round — followed by Hemab's $157M Series C in November 2025 and ADCendo's $135M Series B in November 2024. Antag Therapeutics' $84M Series A in December 2024 and 21st.BIO's $97M venture round in late 2021 further illustrate the scale that Danish therapeutics companies have reached at growth stages.
Activity through 2025 shows no significant slowdown: eleven companies closed rounds from January through November, spanning SNIPR Biome's $41M Series B in August to smaller raises by Chromologics ($8M) and Enduro Genetics ($12M Series A) earlier in the year. Aarhus in Midtjylland anchors the most visible out-of-capital cluster, while Odense in Syddanmark contributes Evosep and QNTM Labs. Round stages range from pre-seed (Aida Oncology, NorFalk) through Series C (Hemab, Labster), with a dense band of Series A and undisclosed-stage rounds in between.
Most recent rounds
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Frequently asked
What are the largest disclosed rounds in this dataset?
Zealand Pharma's $1.0B raise in June 2024 is the largest in the set. Behind it, Hemab closed a $157M Series C in November 2025, ADCendo raised $135M at Series B in November 2024, and Antag Therapeutics secured $84M at Series A in December 2024. IO Biotech's $60M round in December 2024 and Minervax's $57M in October 2023 round out the top tier.
Where are most of these biotech companies headquartered?
Heavily concentrated in Hovedstaden — Copenhagen alone accounts for the majority of companies, including Hemab, ADCendo, Antag Therapeutics, SNIPR Biome, IO Biotech, Acesion Pharma, and Again, among others. Aarhus in Midtjylland functions as the clearest secondary cluster, with Commit Biologics ($6M Seed, January 2025) and Cellugy ($9M, June 2025) both based there. Odense in Syddanmark hosts Evosep ($40M) and QNTM Labs.
How much funding activity occurred in 2025 specifically?
Eleven companies in the dataset closed rounds between January and November 2025. The range runs from Hemab's $157M Series C in November down to Evaxion Biotech's $80K in June and Dancann Pharma's $310K in July. Stage types across those eleven include Series C, Series B, Series A, Seed, and multiple rounds of undisclosed size.
Which round stages are most common among these companies?
Series A appears most frequently as a named stage, with Antag Therapeutics, Again, Enduro Genetics, Hervolution Therapeutics, EvodiaBio, Synklino, Octarine Bio, and QNTM Labs all at that level. A large share of rows carry the label 'Series Unknown' or 'Venture - Series Unknown,' reflecting inconsistent stage disclosure. Seed and pre-seed are present but thin — Commit Biologics, InProTher, Ousia Pharma, Aida Oncology, and NorFalk represent those earlier brackets.
How wide is the spread in disclosed round sizes?
The spread is substantial. At the top sits Zealand Pharma's $1.0B (June 2024); at the bottom, Evaxion Biotech's $80K (June 2025) and Dancann Pharma's $310K (July 2025). Mid-range raises are common — twelve companies disclosed amounts between $5M and $60M. Multiple companies, including Minerva Imaging, Neurescue, Clutch Nutrition, and Ousia Pharma, list undisclosed amounts.
Are there notable biotech companies based outside the Copenhagen area?
Yes. Evosep ($40M, January 2023) and QNTM Labs (Series A, November 2022) are both in Odense, Syddanmark. NMD Pharma ($40M, February 2022) and Aida Oncology ($530K, March 2023) are in Risskov and Birkerød respectively. Dancann Pharma ($310K) operates from Ansager in Syddanmark, and Cellugy ($9M) and Commit Biologics ($6M) are Aarhus-based.
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