The report comes at a time when Denmark has seen a decline in public listings, with the last major IPO being Gubra in March 2023. Despite this, the analysis reveals that the potential for new listings is stronger than often assumed. The 54 candidates collectively represent nearly a third of the current Danish stock market, highlighting the untapped opportunities for growth and investment in the country.

Traditionally, Danish startups have followed a path of venture capital funding followed by a trade sale or private equity buyout, with IPOs often seen as a distant or even unrealistic goal. However, the FBV analysis suggests that this mindset may be shifting.

The report has however also had many commenting on the realism of it, and if all these companies truly are ready for an future IPO. But many agree that the debate is important and that the Danish IPO scene needs more success to become more important.

“It’s not just Pleo and Veo, where Jeppe Rindom and Henrik Theisbæk have publicly toyed with IPO ideas, but also Lunar, Flatpay, Podimo, Corti, Monta, Too Good To Go, and others are also potential candidates. In the U.S., no one would bat an eye, but here, the usual path is venture capital until a private equity firm or industrial buyer takes over from the founders,”

notes Jesper Højberg Christensen of Bootstrapping.dk.

Three Key Steps to Revitalize the Market

To unlock Denmark’s IPO potential, the FBV report outlines three critical steps. First, encouraging pension funds to invest more in Danish equities could boost liquidity and demand in the market. Second, improving incentives for retail investors, such as lowering capital gains tax or enhancing stock savings accounts, could stimulate greater participation. Finally, simplifying the listing process and reducing associated costs would make IPOs a more attractive and accessible option for companies.

The release of the report coincides with Biomar’s announcement of its expected IPO in the first half of 2026 and the upcoming FBV Stock Market Conference on May 19. This highlight the growing momentum and interest in revitalizing Denmark’s capital markets, ensuring that more homegrown companies can scale and thrive while remaining anchored in the country.

The post Denmark’s Hidden IPO Pipeline: 54 Companies, Including Pleo and Lunar, Could Go Public by 2030 appeared first on Øresund Startups.

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Five Danish entrepreneurs have found a method in which the body’s immune system is trained to actively recognize and fight cancer cells. The treatment makes use of nanoparticles of less than one ten thousandth of a millimeter, which is able to deliver an immune activating substance specific for the immune system’s major cell types.

“Often cancer cells avoid being detected by the immune system’s radar, but we can now give the immune system a solid boost, so it can recognize and fight cancer cells more effectively than we see today,” says Simon Skjøde Jensen.

According to Simon Skjøde Jensen, Ph.D. and CEO of Monta Biosciences, the investment will help to take the next steps in developing the technology even further:

“It is a big step in the right direction, and together with our previous investment from the Innovation Fund Denmark, we now have a good base to build an even stronger product that will provide unique opportunities for further development and attraction of strategic partnerships and investments.”

MonTa BioSciences’ treatment is unique since it can advantageously be combined with a large proportion of the current treatments available on the market, including chemotherapy, radiation therapy, antibody based therapy, such as Rituximab or Darzalex, as well as the highly successful immune checkpoint inhibitors, which have been approved over the last year and already used to treat against melanoma and lung cancer. The technology can potentially also be used for treating other diseases where the immune system has a critical role, such as autoimmune diseases including multiple sclerosis, rheumatoid arthritis and diabetes, but also in allergic diseases.

MonTa BioSciences started as a spinout from DTU Nanotech Department of Micro- and Nanotechnology and it is today part of the international mentoring initiative for life science companies, Nordic Mentor Network for Entrepreneurship (NOME), which is organized by the Novo Nordisk Foundation and the startup accelerator Accelerace.

The post MonTa BioSciences raises funding for a promising cancer treatment appeared first on Øresund Startups.