Nordic Bioscience A/S

Ledelsesberetning

Key activities The object of the Company is to operate within biotechnology and other related businesses. Development in the year The income statement of the Company for 2024 shows a profit of TDKK 78,388, and at 31 December 2024 the balance sheet of the Company shows a positive equity of TDKK 111,251. Knowledge resources The key to the Company’s success is our 25 years of research in the ECM (Extracellular Matrix). Our staff counts more than 167 employees, of whom more than 120 are directly engaged in the research and development activities. We seek to foster a unique and competitive environment with the freedom to explore scientific ideas. We believe in publishing our scientific results and publish more than 50 scientific articles a year in the highestranked specialist journals. The past year and follow-up on development expectations from last year The profit/loss for the year was in line with the outlook expressed in the Annual Report for 2023. Operating risks Inflation-risk is low as the Company is not bound to material agreements with long duration and fixed prices. Credit-risk is low as the customer-base is broad and the largest customers within top-25 Pharma-Companies. The Company has a good profitability and no interest-bearing debt, except for customary Danish Mortgage debt (long term property financing). Targets and expectations for the year ahead We expect a moderate increase in 2025-revenue compared to 2024, driven by increased activities. For 2025 we expect slightly improved operating margins compared to 2024. Research and development The Company carries out research and development within the pharmaceutical sector. The activities are focused on biomarkers, with the vast majority being either formation or degradation of different collagens. The biomarkers are typically used to help diagnose or predict the development of various diseases. External environment We use a minimal number of products in our activities and limited quantities hereof, which could potentially damage the external environment. We find it very important to comply with or exceed all applicable environmental regulations and have a good and close relationship with the relevant authorities overseeing such activities. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.