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
Innovates, imports, and distributes high-quality, prescription-based medical cannabis products for patients in several countries
Mentioned in
Company announcements
Stenocare is a Danish company that innovates, 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.
Stenocare strives to maintain full control over the ecosystem, risk management, and the optimisation of both processes and product quality. Although the cannabis plant is a natural product, it was essential to establish a development framework that ensures quality, control, and optimisation, allowing the products to be approved and accepted as prescription medications. Therefore, Stenocare collaborates with carefully selected suppliers who meet high standards for the production of these products,” says CEO Thomas Skovlund Schnegelsberg, emphasising that the technological and detailed cultivation process for cannabis plants takes place solely in climate-controlled indoor grow 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 partners with leading producers of high-quality medical cannabis, and import their finished products to Denmark, Sweden, Norway, Germany, the United Kingdom, and Australia.
Focusing on innovation, Stenocare has developed products using an innovative and patented oil technology, ASTRUM, that paves the way for a new generation of medical cannabis.
Key results from our preclinical pharmacokinetic study in dogs, comparing ASTRUM oil with the commonly used MCT oil, show a significant improvement in blood absorption, more consistent absorption, and a faster time to maximum effect.
The new medical cannabis oil product ASTRUM 10:10 is now approved in Germany, Australia, and Norway and is strategically positioned to play a central role in Stenocare’s future growth strategy.
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 treatment 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 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
"The essence of STENOCARE 3.0 is to transform all our activities into a trading company. With a proven setup, we focus all our efforts and investments on growing sales and gaining market share." Thomas Skovlund Schnegelsberg, CEO Stenocare
The STENOCARE 3.0 strategy will transform Stenocare into a trading company, and refocus all resources, staff and investments towards succeeding with sales of prescription-based products.
The new ASTRUM product is now poised for its market launch, marking a significant milestone in the rollout of Stenocare 3.0. Developed since 2019, ASTRUM is an innovative and patented product that will play a central role in driving the company’s future growth. While Stenocare’s current portfolio of 13 products across 6 countries has laid a strong foundation, the upcoming sales growth will be further accelerated by the introduction of ASTRUM. The product has recently been launched in Germany, Australia, and Norway, and is produced by our high-quality suppliers. ASTRUM is set to be a key driver in Stenocare’s growth strategy moving forward.
Since 2017, Stenocare has invested in building assets across four complementary categories that supplement each other and are essential for the company’s success:
- Regulatory assets; Stenocare possesses the necessary licenses and product approvals from Health Authorities to operate in each market. These regulatory assets are crucial for legally conducting business and include licenses to handle, process, release, store, and distribute prescription-based medical cannabis. Equally important is the capability to collaborate with medicines agencies to secure approval for new prescription-based products aimed at patient treatment. Stenocare has been a first-mover and a market leader in several regions, leveraging this position to expand into new markets.
- Commercial Assets
Stenocare has established sales channels and distribution logistics in multiple markets for prescription-based medical cannabis. The company operates in diverse markets, including Denmark, Sweden, Norway, Germany, UK and Australia. These markets vary significantly: some have not legalised medical cannabis, others have pilot programs, and some have fully legalised it. Stenocare has developed business models to successfully navigate and operate within these different regulatory environments. This will also enable Stenocare to easily expand into new markets that show an attractive growth opportunity. - Partnership Assets
Stenocare collaborates with pharma-grade partners to develop unique medical cannabis products. This approach allows the company to be active across the entire value chain, gaining traction more quickly and offering exclusive medical cannabis products that competitors do not have. Stenocare has also invested in R&D to launch its next-generation medical cannabis oil product, Astrum, which provides the company with a competitive advantage. - Supply Chain Assets
Stenocare sources medical cannabis products to ensure supply capacity and scalability across all markets. This enables the company to offer a strong and diverse product portfolio to patients. With multiple suppliers of finished products, Stenocare benefits from working with leading producers and can tailor its product portfolio to meet local needs and specifications.
These four strategic assets build on the proven results of the Stenocare 1.0 and Stenocare 2.0 strategies, which made the company a first mover in the Danish medical cannabis industry by securing regulatory approvals from the Danish Medicines Agency. This success enabled the company to expand into six countries, with 13 products approved by local medical agencies.
"Through the STENOCARE 3.0 transition into a trading company, we establish a lean, cost-efficient organisation that strengthens our competitive edge and enhances the market competitiveness of our products." Peter Bugge Johansen, CFO Stenocare
A Strategic Shift for Greater Success
In our early days, STENOCARE managed every step of the value chain to uphold pharmaceutical-grade standards. Under our STENOCARE 1.0 strategy, we focused on in-house operations to maintain control. However, we recognised that this model was not scalable for sustainable growth.
Adapting to a New Industry Model
As the medical cannabis industry matured, it shifted toward outsourcing and strategic partnerships, leveraging the expertise of specialised suppliers to ensure efficiency and quality. STENOCARE embraced this transformation by transitioning from own cultivation facility to collaborating with trusted partners in Canada, Australia, and beyond.
Innovation Without Compromise
This strategic shift allows us to concentrate on our core strength: innovation. By working with global partners, we can deliver high-quality products like ASTRUM with increased flexibility and cost-efficiency, while continuing to meet the pharmaceutical-grade standards.
Staying Ahead in a Competitive Industry
With this evolution, STENOCARE remains at the forefront of the medical cannabis sector. Our commitment to innovation, quality, and market adaptability enables us to deliver cutting-edge solutions and drive positive change for a healthier future.
"Stenocare is ready to lead the future of medical cannabis. With our patented ASTRUM 10-10 oil approved in Germany, Australia, and Norway, we’re entering markets with massive growth potential and millions of patients." Rolf Steno Petersen, CCO Stenocare
Innovative New ASTRUM Product Officially Approved for Sale in Norway
Dec 02, 2024
We are proud to announce the approval of our innovative product, Astrum 10-10, for sale in Norway. This milestone paves the way for more patients to access the benefits of medical cannabis treatment. Astrum 10-10 is expected to become available for patients within the next 30 days.
Since 2019, Stenocare has been collaborating with partners to develop and test next-generation medical cannabis oil products, positioning itself as a frontrunner in prescription-based medical cannabis. Stenocare is now ready to introduce its patented product to Norwegian patients. Officially named “Astrum 10-10 Oil Stenocare,” the product contains 10 mg/ml THC and 10 mg/ml CBD in a 30 ml bottle.
STENOCARE Celebrates Denmark’s Permanent Legalisation of Medical Cannabis
Nov 23, 2024
Today, the Danish parliament formally agreed on permanent legalisation of medical cannabis. This is fantastic news for both Danish patients and Stenocare, as it ensures continued access to and the sale of medical cannabis in Denmark.
The political parties also agreed to enhance information and guidance for both doctors and patients. This includes providing treatment guidelines for doctors and permitting patients to continue driving while undergoing treatment with medical cannabis.
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.
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!
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.
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
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.
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 celebrated as the Best IPO 2018 at the ceremony hosted by SvD Börsplus.
May 22, 2019
"Our strategy to become a leading high-end brand in Europe is driven by our competitive advantage: operating under the strict regulatory control of medicines agencies." Marianne Wier, Chairman of the Board Stenocare
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 & member of the Board of Directors
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 and Co-Founder
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
Rolf Steno Petersen
CCO and Co-Founder & member of the Board of Directors
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
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