Annual Report 2024
27/03/2025
“Our purpose is to facilitate a better quality of life for as many patients as possible by offering pharma-based medical cannabis to the world” CEO, THOMAS SKOVLUND SCHNEGELSBERG
Stenocare – a market leader in medical cannabis
Import and wholesale of high quality finished medical cannabis products for patients.
Mentioned in
Company announcements
Stenocare is a Danish company that cultivates, produces, imports and sells prescription-based medical cannabis
Stenocare is a Danish pharmaceutical company founded in 2017. Already the following year, Stenocare became the first Danish company to obtain all three permits to cultivate, import, and handle medical cannabis oils a Danish pilot scheme. At the same time, Stenocare is the first Danish company to have obtained approval for medical oil-based cannabis products for the Danish pilot scheme. Today, Stenocare operates in Denmark, Sweden, Norway, Germany, the United Kingdom, and Australia.
The pharmaceutical approach ensured crucial permits
Scientific controllability, transparent processes and uniformity of products are essential to the credibility of a pharmaceutical company and to gain the trust of physicians and the many possible patients on the market. Optimising every detail and controlling the quality of products is a working method that CEO Thomas Skovlund Schnegelsberg recognises from his many years in the IT industry and now actively uses at Stenocare.
“I went from an industry that is 100 percent digital and technology-based to one that is based on nature’s processes. Stenocare strives to have 100 percent control over the ecosystem, risk management and optimisation of processes and product quality. Even though the plant is basically a natural product, it was crucial to create a framework for its development that can be quality assured, controlled and optimised and thereby accepted and approved as prescription drugs,” says CEO Thomas Skovlund Schnegelsberg, emphasising that the technological and detail-driven cultivation process for cannabis plants is based solely on indoor climate-controlled cultivation rooms.
Our high pharmaceutical standard has led to success in several markets, and the team behind Stenocare has succeeded in obtaining approvals in several important markets. Stenocare has partnered with leading producers of medical cannabis with the aim of importing their finished products into Denmark, Sweden, Norway, Germany, UK and Australia. Stenocare partners with several suppliers to achieve better predictability of supply and offer patients a broader range of products for their treatment based on medical cannabis.
Products that patients and physicians can trust
Stenocare’s core ambition is to provide patients with a reliable, well-documented and easily accessible pharmaceutical alternative of the highest quality for the many patients who are seeking good clinical outcomes without being criminalised via illegal markets.
“It is a common societal problem that so many patients still find it difficult to acquire medical cannabis and are instead forced to move into an unsafe criminal landscape when they are already in a stressful life situation. If the quality and dosage cannot be guaranteed, the use of the drug, as with other medications, can do more harm than good. The prescription-based products come with the highest restrictions in relation to quality and safety and are therefore crucial to winning the trust of physicians and patients and building a solid foundation for a new, international industry,” says Thomas Skovlund Schnegelsberg, CEO in Stenocare.
Stenocare strategy
Stenocare 1.0 ambitions are well implemented, and we are now commence executing our strategy for Stenocare 2.0 to become a leading medical cannabis brand in Europe Thomas Skovlund Schnegelsberg, CEO Stenocare
The Stenocare 2.0 strategy has invested in building assets within four categories that supplement each other and are important for the success of the company:
- Regulatory assets; having the required licenses and product approvals from the Health Authorities to operate in each market. This is a key requirement to legally do business, and it includes regulatory licenses to handle-, process-, release-, store- and distribute medical cannabis. Equally important is the acquired capability to work with the medicines agencies to have new prescription-based products approved for patient’s treatment.
- Commercial assets; Having sales channels and distribution logistics in multiple markets for prescription-based medical cannabis. With a broad access it is possible to benefit from the market.
- Partnership assets; Working with pharma-grade partners to develop future medical cannabis products. This is a way to be active across the entire value chain and get traction faster and having exclusive medical cannabis products to market that competition does not have.
- Supply chain assets; Sourcing medical cannabis products that can secure supply capacity and scale across all the markets. This gives a strong and broad product portfolio to offer patients. With multiple suppliers of finished products combined with the Stenocare indoor facility is securing capacity and capability to meet the growing demand in the market.
These four strategic assets leverage the proven results from the Stenocare 1.0 strategy, that made the company a first-mover in the Danish medical cannabis industry by securing regulatory approvals from The Danish Medicine Agency.
The company has been granted (1) approval to import/manufacture/Distribute medical cannabis products, (2) approval to cultivate and produce medical cannabis, (3) approval to handle activities with euphoriant substances – and (4) approval to have Stenocare medical cannabis oil and capsule products accepted for the Danish Pilot Programme.
STENOCARE is Shortlisted for European Cannabis Company of the Year
June 12, 2024
Stenocare is honored to be recognized as one of the leading European Cannabis Companies in the industry annual award. 
Comment from CEO, Thomas Skovlund Schnegelsberg: “We are both honoured and humbled by the recognition of being one of the best medical cannabis companies in Europe. We have a strategy of becoming a leading European brand within medical cannabis, and being shortlisted with a group of highly professional peers shows that we are on the right path toward that ambition.”
STENOCARE launch next generation medical cannabis oil product in Australia – six months ahead of schedule
May 23, 2024
Stenocare´s new innovative product-line is ready for the market – six months ahead of expectation. The new Astrum brand is an innovative cannabis oil product featuring a patented oil technology that enhances the bioavailability of its active ingredients. This breakthrough allows for higher uptake in the blood, and reduced dosage requirements. The first Astrum product will be launched for patients in Australia during Summer 2024.
Major milestone reached: STENOCARE receives approval to sell a new medical cannabis oil product in Denmark
Feb 26, 2024
Stenocare has received approval from The Danish Medicines Agency to sell a new THC/CBD medical cannabis oil product to Danish patients. With this, Stenocare has regained the position as the exclusive (only) provider of all three essential oil products under the Danish Pilot Programme; THC oil, CBD oil, and now also the new THC/CBD oil.
Analyst Group provides comments on STENOCARE's expansion in Australia
Dec 14, 2023
For the full article on Analyst Group, click here.
Listen to Stenocare CEO present the company and industri insights
Dec 12, 2023
Stenocare’s CEO is featured in Aktieportföljen in Sweden, presenting the company and providing industry insights to investors.
Stenocare CEO hos Aktieportföljen in Sweden
BREAKING NEWS: Stenocare enter German market
May 25, 2023
Stenocare product approved by German health authorities, and are now entering Germany, which is our sixth country and the largest European market for medical cannabis!
Finwire interview with Stenocare CEO Thomas Skovlund Schnegelsberg
May 15, 2023
Finwire visited Stenocare in Copenhagen and met with CEO Thomas Skovlund Schnegelsberg. Hear about the cannabis market, business model, financial position, capital raising and why investors should take a closer look at Stenocare.
Strong platform that will carry us forward into 2023 and beyond
Mar 16, 2023
Join Thomas Skovlund Schnegelsberg, CEO of Stenocare, as he shares the exciting highlights from our just-released Annual Report 2022
STENOCARE enter Norway and now exclusively cover all Scandinavian countries.
Oct 28, 2022
Stenocare accesses the Norwegian market. Stenocare has signed a distribution agreement with the leading distributor and pharmacy chain. “We are proud to be the only supplier in Scandinavia, and we look forward to follow the treatment effect for patients in Norway”.
Stenocare is now active in 5 countries with 11 prescription-based Medical Cannabis oil products.
There will be three different medical cannabis oil products available for patients in Norway: THC Drops 30 mg/mL, CBD Drops 20 mg/mL and Balanced 15 mg/mL THC + 24 mg/mL CBD.
STENOCARE approved to supply Danish patients with new CBD medical cannabis oil product
Oct 14, 2022
Stenocare has received approval from The Danish Medicines Agency to sell a new CBD medical cannabis oil product to Danish patients. With this, STENOCARE once again becomes the only supplier of both CBD and THC medical cannabis oil products under the Danish Pilot Programme. The product is called “CBD Olie STENOCARE” and contains 20 mg/mL CBD.
STENOCARE enters its 4th market starting sales in Australia in Q4 2022
Aug 24, 2022
Rolf Steno, Stenocare CCO and Rob Jenny, Cannvalate Business Development Manager closing the partnership agreement in Brisbane Australia. Stenocare enter the Australian market with the new oil product CBD-THC 12.5:12.5 Balanced (THC 12.5mg/mL + CBD 12.5mg/mL) that will be available to patients during Q4 2022 with sales expected to accelerate in the first half of 2023 and onwards.
Strong start for 2022 with new products in Denmark and the UK
May 05, 2022
Stenocare CEO, Thomas Skovlund Schnegelsberg, comments on the important Q1 milestones and key figures in the Q1 Report.
Join the CEO of Stenocare in his comments on the Q1 Report
Stenocare initiates guidance: 15-20mDKK in annual revenue run rate by end of 2022
Mar 10, 2022
Stenocare has successfully reached two important license milestones during Q1 2022: This enables the company to realize sales to patients in Denmark, Sweden and the UK this year, with a gradual build-up of sales during the year. By the end of the year the expected sales run rate (calculated as Q4 times 4) is set at 15 to 20 million DKK.
CEO Thomas Skovlund Schnegelsberg comments: "We will grow sales quarter over quarter and expect to finish the current year with a run-rate of 15-20 million DKK. We think it is a realistic target and that it will be a very strong platform for further growth in existing and new markets in following year"
Stenocare enters the UK market to sell prescription-based medical cannabis oil products
Feb 25, 2022
Stenocare to make medical cannabis oil products available for UK patients. With this Stenocare is taking a major step towards its goal of becoming a European market leader. Stenocare has been working extensively with their partners to establish the logistical setup to cover England, Scotland, Wales and Northern Ireland.
CEO Thomas Skovlund Schnegelsberg comments: "From the beginning we set out to become a global supplier and a leading European brand in high quality medical cannabis. Stenocare now becomes one of few suppliers of oil products to UK patients. This is another proof point of our capabilities to execute our Stenocare 2.0 strategy”
Stenocare approved to supply Danish patients with medical cannabis oil products
Jan 07, 2022
Stenocare received approval for a new product from The Danish Medicines Agency, and is again the first and only supplier of medical cannabis oil products for the Pilot Programme. The product is named “THC Olie STENOCARE” and contain 30 mg/mL THC and <0.1 mg/mL CBD, and comes in a 30 mL bottle with an oral syringe.
CEO Thomas Skovlund Schnegelsberg comments: “Today’s announcement strengthens our position as the first mover and only provider of cannabis oils to the Danish Pilot Programme
Healthy Focus On Profitable Business Models
Jan 03, 2022
Stenocare CEO Thomas Skovlund Schnegelsberg reflects on 2021 and looks ahead to the challenges and opportunities that lie ahead in 2022.
Click here for full article
Grow-technician is evaluating
Dec 17, 2021
The Stenocare grow-technician is evaluating the flower distribution and maturation stage during his inspection. The flower buds are bulking up with plant’s nutrients. The grower is closely monitoring the distribution of the flower buds and leaves for each individual plant. The plants are only few weeks away from harvest, and plant trimming is now concentrated on creating optimal light conditions for all flower buds.
Business perspective for Danish cultivation facility
Nov 29, 2021
Stenocare now has capacity to cover its expected supply needs for the next 4-5 years, corresponding to potential annual commercial value of DKK 150 mill from the Danish facility alone. This is not a forecast or guidance for 2022 or 2023, but provide a perspective of the potential capabilities of the Danish facility.
Stenocare CEO, Thomas Skovlund Schnegelsberg, comments on the business perspectives for the upgraded facility in Denmark. This video contain insights in the supply capacity and commercial value in can potentially generate
Guided tour in the flower room
Nov 12, 2021
Stenocare has a pharma mindset for cultivation of medical cannabis.
Delivering safe prescription-based products to patients require maximum control of quality and documentation.
Follow the Stenocare CEO on a tour inside their state of art facility. This video show how the flower room is designed to comply with the strict regulatory requirements of the Medicines Agency
Guided tour in the water treatment area
Oct 20, 2021
Stenocare has a pharma mindset for cultivation of medical cannabis.
Delivering safe prescription-based products to patients require maximum control of quality and documentation.
Follow the Stenocare CEO on a tour inside our state of art facility. This video show how the company has designed an fully automated system for water treatment and fertilizer of plants
Guided tour in the indoor facility area
Oct 20, 2021
Stenocare has a pharma mindset for cultivation of medical cannabis. Delivering safe prescription-based products to patients require maximum control of quality and documentation.
Follow the Stenocare CEO on a tour inside our state of art facility. This video show how the company has designed a clean environment for the production.
Good news for the Danish medical cannabis patients and for the industry
May 25, 2021
Stenocare applauds the Danish Parliament decision to a) extend the Pilot Programme that allow Danish doctors to prescribe medical cannabis and b) to permanently allow local cultivation and production of medical cannabis. This is very good news for patients and the industry.
Prescription: The Danish Parliament today made the decision to extend the Pilot Programme for prescription of medical cannabis with another four years, when the current Pilot expires on 31th of December 2021. This will allow all doctors to continue prescribing medical cannabis products to their patients regardless of illness (ie. indication). The agreement also outlines, that Parliament will debate the levels of patient cost coverage or refund during the Autumn assembly.
Cultivation: The decision today also makes Danish cultivation and production of medical cannabis permanent beyond the expiration of the current Pilot in December 2021. With this decision, Denmark formally continues its ambition to become a leading producer of medical cannabis with an intention to serve both the home market and international markets.
Thomas Skovlund Schnegelsberg, CEO of Stenocare is commenting:
“Today is an important milestone for Danish patients and for the Danish medical cannabis industry. The Danish Parliament has decided to continue the Pilot Programme for patient’s treatment with high quality medical cannabis until 2025, and at the same time made the law for Danish cultivation and production permanent. With this decision, Denmark is now on a path to become a leading producer of medical cannabis for patients in Europa and be an important part of the hyper-growth expected in the coming years.”
Click here for link to The Danish Ministry of Health
Interview Q1 Report 2021
May 12, 2021
Helge Larsen from Proinvestor.com is interviewing Stenocare CEO about the Q1 2021 Report and state of the business (Danish interview with Swedish subtitles)
Join the CEO of Stenocare in his review of the Q1 Report, and his reflections for the progress and opportunities in the year ahead
Thomas Skovlund Schnegelsberg participated in an interview with Invest Talks published on Dagens Industri (in Swedish)
March 17, 2021
You can read the full article here – Click here for PDF (PDF doc)
”2020 has both been a exiting and busy year for Stenocare” Stenocare CEO, Thomas Skovlund Schnegelsberg, look back at 2020
“2020 has been a highly extraordinary, yet also busy year for Stenocare. Therefore, I find it natural to share a few reflections as we are nearing the end of 2020. We entered the year with a clear focus upon our Stenocare 2.0 Strategy: to become a European leader within prescription-based medical cannabis”.
Click here for PDF
(PDF doc)
Times Square New York
May 18, 2020
The iconic “tower photo” from Times Square in New York.
Nasdaq First North Denmark welcomes Stenocare for the first day of trade.
Stenocare and NASDAQ sign the wall poster for the wall of fame
May 18, 2020
Ceremony of signing the wall poster.
Stenocare´s CEO Thomas Skovlund Schnegelsberg (left) and Carsten Borring (right), Head of Listings, Nasdaq Copenhagen.
Profitable Year-End Report
February 2020
Join the CEO of Stenocare in his comments on the profitable Year-End Report 2019 and his reflections for the future growth of the company.
CEO Comments in the profitable Year-end Report
Stenocare is a ”company to watch” for 2020
February, 2020
The new edition of The European Cannabis Report 5th Edition was published February 2020, and in the section “Companies to Watch” the Report profile Stenocare as one of few medical cannabis leaders in Europe:
Quote from the Report:
“The company is now a leader in the European market; its production and distribution network in Denmark was profitable in 2018 and is currently expanding to Ireland among other emerging markets. This is notable as even large companies have struggled to produce a profit in the early years of the industry”
The European Cannabis Report is a comprehensive source of information covering each European country and its status/progress with medical cannabis. Therefore the Report offer a good insight into market opportunities, key stakeholders and how medical cannabis is applied for treatment of patients in Europe. The European Cannabis Report is free and is published by Prohibition Partners. Access the Report here.
Stenocare interview
August 22, 2019
Thomas Skovlund Schnegelsberg, CEO of Stenocare A/S present the Interim Report Second Quarter 2019 and inform about the current challenges relating to Stenocare’s Canadian partner, CannTrust. Annabella Pultz from Finwire is hosting the event.
Stenocare celebrated as the Best IPO 2018 at the ceremony hosted by SvD Börsplus.
May 22, 2019
The Stenocare Executive Management team, ring the bell at Spotlight Stock Market to start first trade of Stenocare stocks.
Oct 26, 2018
Listing ceremony , Oct 26, 2018
Listing ceremony of the first medical cannabis company in Europe.
“Our strategy to become a leading high-end brand in Europe is fueled by the competitive advantage, that we are operating under very strict regulatory control by the medicines agencies”
Marianne Wier
Chairman of the Board
Financial reports
Dates for release of financial information
Year End Report 2024
27/02/2025
January 2024 - September 2024 (Q3)
07/11/2024
January 2024 - June 2024 (Q2)
21/08/2024
Annual General Meeting 2024
14/05/2024
January 2024 - March 2024 (Q1)
02/05/2024
Annual Report 2023
14/03/2024
Year End Report 2023
22/02/2024
January 2023 - September 2023 (Q3)
09/11/2023
January 2023 - June 2023 (Q2)
17/08/2023
January 2023 - March 2023 (Q1)
20/06/2023
Annual General Meeting 2023
11/04/2023
Annual Report 2022
16/03/2023
Year End Report 2022
23/02/2023
January 2022 - September 2022 (Q3)
09/11/2022
January 2022 - June 2022 (Q2)
18/08/2022
Annual General Meeting 2022
19/05/2022
January 2022 - March 2022 (Q1)
05/05/2022
Annual Report 2021
17/03/2022
Year End Report 2021
24/02/2022
January 2021 - September 2021 (Q3)
04/11/2021
January 2021 - June 2021 (Q2)
19/08/2021
Annual General Meeting 2021
20/05/2021
January 2021 - March 2021 (Q1)
06/05/2021
Annual Report 2020
04/03/2021
Year End Report 2020
25/02/2021
January 2020 - September 2020 (Q3)
05/11/2020
January 2020 - June 2020 (Q2)
20/08/2020
Annual General Meeting 2020
14/05/2020
January 2020 - March 2020 (Q1)
07/05/2020
Year End Report 2019
26/02/2020
January 2019 - September 2019 (Q3)
06/11/2019
January 2019 - June 2019 (Q2)
20/08/2019
Annual General Meeting 2019
16/05/2019
January 2019 - March 2019 (Q1)
07/05/2019
Annual Report 2017-2018
30/04/2019
Year End Report 2017-2018
21/02/2019
October 2017 - September 2018 (Q4)
21/11/2018
Corporate Governance
Executive Management
Thomas Skovlund Schnegelsberg
CEO and Co-Founder 
Thomas Skovlund Schnegelsberg, born in 1965, has extensive experience in management, strategy, business development and brand marketing. Read more
Peter Bugge Johansen
CFO
Peter Bugge Johansen, born in 1962, State Authorized Public Accountant. Bugge Johansen worked for 20 years at Interdan Holding A/S, the last six years as CEO and before that as CFO. Read more
Rolf Steno Petersen
CCO and Co-Founder
Rolf Steno Petersen, born in 1965, is a serial entrepreneur and has extensive experience in business innovation, strategy and global sales and marketing. Read more
Søren Kjær
COO, Co-Founder and board member
Søren Kjær, born 1964, holds a Master of Science in Horticulture from University of Copenhagen and has extensive experience with project management, innovation processes and biotechnology from the horticultural industry. Read more
Board of Directors
Marianne Wier
Non-executive Chairman of the Board of Directors
Marianne Wier, born in 1963, holds a law degree from Copenhagen University. Ms Wier has a background as a lawyer and has, through her previous experience, acquired extensive knowledge in leadership and a good strategic understanding. Read more
Søren Melsing Frederiksen
Non-executive member of the Board of Directors
Søren Melsing Frederiksen, born in 1976, holds a chemical engineering bachelor and a Master of Industrial Drug Development (MIND) from Copenhagen University. Read more
Jeppe Bo Petersen
Non-executive member of the Board of Directors
Jeppe Bo Petersen, born in 1966, is currently the CEO of Olivia Danmark A/S, which is one of the largest companies in Denmark’s within personal aid and support schemes. Read more
Søren Kjær
COO, Co-Founder and board member
Søren Kjær, born 1964, holds a Master of Science in Horticulture from University of Copenhagen and has extensive experience with project management, innovation processes and biotechnology from the horticultural industry. Read more
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