Invest in Stenocare, a market leader in medical cannabis.
Import and wholesale of high quality finished medical cannabis products for patients.
Founded in Denmark in 2017, Stenocare is in the business of supplying medical cannabis products to patients. The company is operating in a highly regulated market under the jurisdiction of local Health Agencies – where the products are only legally available via prescription from a physician to a patient.
Stenocare has its headquarters in Denmark, and a wholly owned subsidiary – Stenocare Ireland Ltd – in Ireland. Stenocare is a Nasdaq listed company and the company shares are traded on Nasdaq First North Growth Market Denmark.
Stenocare´s vision is to improve the quality of lives of patients who can benefit from treatment with Medical Cannabis products
Stenocare´s mission is to make Stenocare a leading European brand in premium quality prescription-based Medical Cannabis that is following the pharma principles of Good Manufacturing Practice (GMP)
The Stenocare 2.0 strategy is building assets within three categories that supplement each other and are important for the success of the company:
- Commercial assets; having prescription-based medical cannabis products approved in the very strict regulatory regime in Denmark enables the company to leverage this asset in Denmark and future markets. With a multi-supplier approach for sourcing patient-ready products, this is a solid platform for the planned international expansion beyond Denmark.
- Partnership assets; with doctors and patients looking for more product choice for treatment with prescription-based medical cannabis – the company will enter into research and development partnerships to bring exclusive and innovative medical cannabis products to market that differentiate its product portfolio.
- Supply chain assets; where the company controls the entire value chain and builds internal expertise with its own indoor cultivation facility. Having the capability of producing high quality medical cannabis that is controlled and fully documented from seed to sales in the indoor setup that emulates pharma principles is an important asset to be successful in the premium segment that Stenocare is serving in their markets. This will enable it to supply high quality products that meet the requirements of patients, medicines agencies and the pharma industry
These three categories 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 products, (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. The company has cultivated without the use of pesticides in their Danish small scale facility and am in the process of implementing a larger scale indoor state-of-art cultivation facility that build on best practices from greenhouse and clean-room production.
Strong start for 2022 with new products in Denmark and the UK
Stenocare CEO, Thomas Skovlund Schnegelsberg, comments on the important Q1 milestones and key figures in the Q1 Report.
Stenocare initiates guidance: 15-20mDKK in annual revenue run rate by end of 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.
Stenocare enters the UK market to sell prescription-based medical cannabis oil products
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.
Stenocare approved to supply Danish patients with medical cannabis oil products
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.
Grow-technician is evaluating
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
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.
Guided tour in the flower room
Delivering safe prescription-based products to patients require maximum control of quality and documentation.
Guided tour in the water treatment area
Guided tour in the indoor facility area
Good news for the Danish medical cannabis patients and for the industry
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
Helge Larsen from Proinvestor.com is interviewing Stenocare CEO about the Q1 2021 Report and state of the business (Danish interview with Swedish subtitles)
”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
Times Square New York
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
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
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.
Stenocare is a ”company to watch” for 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.
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.
The Stenocare Executive Management team, ring the bell at Spotlight Stock Market to start first trade of Stenocare stocks.
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”
Chairman of the Board
Dates for release of financial information