OTC: NORD
Nordicus Partners CorpCIK 0001011060 · Management Consulting Services
We were founded in 1993 and in 2007 were reincorporated from a Massachusetts corporation to a Delaware corporation. We changed our name from CardioTech International, Inc. to AdvanSource Biomaterials Corporation, effective October 15, 2008. On March 3, 2020, we changed our name to EKIMAS… About this business →
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About Nordicus Partners Corp
Source: Item 1 (Business) from the 10-K filed July 29, 2025. Description as filed by the company with the SEC.
Item
1. Business
Corporate
History
We
were founded in 1993 and in 2007 were reincorporated from a Massachusetts corporation to a Delaware corporation. We changed our name
from CardioTech International, Inc. to AdvanSource Biomaterials Corporation, effective October 15, 2008. On March 3, 2020, we changed
our name to EKIMAS Corporation.
On
October 12, 2021, we entered into a Stock Purchase Agreement (the “SPA”) with Reddington Partners LLC, a California limited
liability company (“Reddington”) providing for the purchase of a total of 511,448 shares of our common stock, on a post-split
basis, or approximately 90% of our total shares of common stock outstanding for total cash consideration of $400,000. Reddington purchased
the common stock in two tranches on October 12, 2021 (the “First Closing”) and March 15, 2022.
Pursuant
to the SPA, the Company effectuated a 1-for 50 reverse stock split on March 11, 2022 (the “Reverse Split”). Accordingly,
on a post-split basis, the shares purchased in connection with the First Closing resulted in Reddington owning 42,273 shares of our common
stock. As set forth in the SPA, Reddington then purchased from us on March 15, 2022, an additional 469,175 shares of our common stock,
on a post-split basis (the “Second Closing”). After the issuance thereof Reddington owned 511,448 shares of our common stock,
or approximately 90% of our total shares of common stock outstanding.
On
February 23, 2023, the Company and NP Bioinnovation A/S (formerly Nordicus Partners A/S and Managementselskabet af 12.08.2020 A/S), a
Danish stock corporation, consummated the transactions contemplated by a certain contribution agreement (the “Contribution Agreement”)
by and among the Company, NP Bioinnovation A/S, GK Partners ApS (“GK Partners”), Henrik Rouf and Life Science Power House
ApS (“LSPH”) (GK Partners, Rouf and LSPH are collectively referred to herein as the “Sellers”, and each individually
as a “Seller”). Pursuant to the Contribution Agreement the Sellers contributed, transferred, assigned and conveyed to the
Company all right, title and interest in and to one hundred percent (100%) of the issued and outstanding capital stock of NP Bioinnovation
A/S for an aggregate of 250,000 shares of the Company’s Common Stock, par value $0.001 per share. As a result of this transaction,
NP Bioinnovation A/S became a 100% wholly owned subsidiary of the Company.
Read full description ↓
On
February 23, 2023, Tom Glaesner Larsen and Christian Hill-Madsen were appointed directors of the Company.
On
May 17, 2023, the Company changed its name to Nordicus Partners Corporation and its ticker symbol to NORD.
On
June 1, 2023, the Company acquired a 4.99% interest in Mag Mile Capital, Inc., a full-service commercial real estate mortgage banking
firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas and Nevada. Mag Mile
Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine
and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes
nationwide, including hotels, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties, offering
access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs.
On
June 9, 2023, Mr. Tom Glaesner Larsen resigned as a director of the Company and Henrik Keller was appointed as his replacement.
On
November 29, 2023, the Company’s subsidiary, Nordicus Partners A/S, changed its name to Managementselskabet af 12.08.2020 A/S.
Subsequently on March 10, 2025, Managementselskabet af 12.08.2020 A/S changed its name to NP Bioinnovation A/S.
3
On
May 13, 2024, the Company and certain shareholders of Orocidin A/S (the “Orocidin Sellers”), a Danish stock corporation (“Orocidin”)
entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which the Orocidin Sellers sold to the Company
525,597 shares of the capital stock of Orocidin (the “Orocidin Shares”), representing 95.0% of Orocidin’s outstanding
shares of capital stock. In exchange, the Company issued 3,800,000 restricted shares of its common stock to the Orocidin Sellers. The
transaction was consummated on May 13, 2024. Orocidin A/S, is a preclinical-stage biotechnology company which is advancing the next generation
of periodontitis therapies.
On
June 3, 2024, Mr. Christian Hill-Madsen resigned as a director of the Company and Peter Severin was appointed as his replacement.
On
November 8, 2024, the Company effectuated a 1-for-10 reverse stock split of its issued and outstanding common stock, rounding up to account
for any fractional shares. The Reverse Stock Split had no effect on the Company’s authorized shares of common stock or preferred
stock and the par value will remain unchanged at $0.001, respectively. All common stock share, option, warrant and per share amounts
(except our authorized but unissued shares) have been retroactively adjusted in these consolidated financial statements and related disclosures.
On
November 11, 2024, the Company announced that it entered into an agreement with Bio-Convert A/S (“Bio-Convert”) to acquire
100% of the outstanding shares of Bio-Convert in exchange for 12,000,000 restricted shares of the Company’s common stock. Bio-Convert
is a Denmark-based preclinical-stage biotechnology company aiming to revolutionize the treatment of oral leukoplakia by minimizing or
removing oral leukoplakia lesions in order to further reduce the risk of such lesions resulting in the development of oral cancer in
patients.
On
November 12, 2024, the Company entered into an agreement with Orocidin A/S to acquire the remaining 29,663 outstanding shares, or approximately
5%, of Orocidin A/S. In exchange, the Company issued 200,000 shares of restricted common stock to the selling shareholders of Orocidin.
Upon closing of the acquisition, Orocidin A/S became a 100% wholly owned subsidiary of the Company.
Our
Business
Since
the current leadership assumed control of Nordicus Partners Corporation (“Nordicus” or the “Company”), the Company
has evolved into a leading U.S. publicly listed business accelerator and holding company dedicated to helping Nordic life sciences companies
succeed in the American market. By combining Nordic innovation with U.S. operational expertise, Nordicus Partners Corporation creates
a distinct advantage in identifying, scaling, and exiting high-potential companies in fast-growing markets with unmet medical needs.
Nordicus’
mission is to back high-growth ventures and transformative innovations in the life sciences sector. By providing capital, strategic guidance,
and operational resources, we unlock each company’s potential to generate significant value and drive robust financial returns.
Our hands-on approach—engaging, empowering, and capitalizing our portfolio companies—actively propels their success.
Our
approach blends strategic counsel, operational know-how, and the cultivation of meaningful partnerships. This integrated support strengthens
our companies’ market positions and helps them achieve their growth ambitions. Drawing on the combined expertise of our skilled
Nordic and U.S. teams, we deliver a unique perspective that advances each portfolio company toward its full potential.
Nordicus’
portfolio diversification strategy positions us as a stable and resilient company, mitigating risk with significant upside potential.
4
Our
Approach and Value Creation Process
Nordicus
employs a 4-step value creation process:
–
Scout
and Accelerate: Nordicus targets high-impact potential companies, providing capital, resources and expertise to drive critical milestones
such as patent filings and clinical trials.
–
Acquire
and Exit: Nordicus acquires controlling stakes to maximize value creation and exit at premium multiples.
We
scout the Nordic region looking for early-stage life sciences companies developing drugs or treatments for diseases in high growth markets
with significant unmet medical needs, all in potential multibillion USD markets.
After
a vigorous due diligence process, the chosen companies will be offered to join Nordicus’ accelerator program. Once the chosen companies
have become accelerator clients, Nordicus takes an active role in advising the management team, assisting with strengthening the companies’
Board of Directors and establishing Advisory Boards including making introductions to strategic partners and talent.
Once
the milestones – set by Nordicus – are met, Nordicus will typically offer to acquire the companies outright. The first three
acquisitions will be all-stock transactions, with the first two acquisitions (Orocidin A/S and Bio-Convert A/S) having already been completed,
fitting Nordicus’ criteria of inclusion.
Nordicus
aims to take all portfolio companies’ drug developments through Phase I. Upon completion of Phase I, the following options will
be considered:
1.
Sale
or merger of the portfolio company.
2.
Further
development through the next clinical phases.
3.
Strategic
partnership with a large pharmaceutical company that will invest in Nordicus for further drug development.
4.
Stand-alone
Initial Public Offering (IPO).
Nordicus’
current life sciences portfolio consists of two promising preclinical biotechnology companies in Orocidin A/S and Bio-Convert A/S led
by the accomplished pharmacologist, Allan Wehnert, who serves as CEO of both companies.
Orocidin
A/S is developing a proprietary first-of-its-kind medical treatment for aggressive periodontitis, with Bio-Convert A/S focused on a treatment
against oral leukoplakia (OLK) – an oral potentially malignant disorder – by developing a novel proprietary mucoadhesive
oral topical formulation designed to treat and reduce dysplasia levels, potentially offering a curative solution for oral leukoplakia.
The
companies’ innovative breakthroughs are further strengthened by their oral formulations ensuring prolonged adhesion for 12-24 hours
and controlled release of the active ingredient, enhancing drug efficacy and patients’ outcomes – a major advancement over
normal gels and creams.
Orocidin
A/S latest development
Orocidin
A/S has successfully completed a 14-day toxicology study in hamsters and a test of effectiveness in a Beagle Dog Study, respectively.
In
the 14-days toxicology study, all animals exhibited high tolerance to the drug, with no adverse reactions and irritation at the buccal
application site. No significant side effects were observed and more importantly, the necroscopic cross examination showed no changes
in tissues. The successful completion of this study marks an important milestone for Orocidin A/S, providing the foundation for the upcoming
pivotal 8-week toxicity study.
The
Beagle Dog Study is the first study that shows Orocidin A/S drug, QR-01, having a direct effect on periodontitis diagnosed beagle dogs.
The 13-day small efficacy study was conducted on beagle dogs with clinically confirmed periodontitis. The dogs demonstrated consistent
improvements across key clinical endpoints, including the Gingival Index, the Plaque Index and overall periodontal Disease.
Moreover,
QR-01 was well tolerated, with no adverse side effects reported throughout the treatment period. This represents a significant milestone
for Orocidin’s lead product, QR-01, and strengthens Nordicus’ and Orocidin’s confidence as Orocidin prepare for the
upcoming human pilot efficacy study.
5
Bio-Convert
A/S latest development
Bio-Convert
has received positive and constructive scientific advice from the Danish Medicines Agency (DKMA) regarding QR-02 as a treatment for oral
leukoplakia. DKMA’s feedback paves the way toward a First in Human trial, with a high likelihood of animal studies rendered dispensable
for the proposed formulation and route of application.