22Related parties

The following transactions have been entered into with related parties:

In addition to the information shown in the table above, PolyPeptide Group AG secured in 2023 a short-term credit facility from its main shareholder, Draupnir Holding B.V. As a result, interest expenses at the amount of kEUR 1,322 have been incurred during the year (2024: kEUR 2,941). As at 31 December 2025, an amount of kEUR 20,000 was drawn from the credit facility (2024: kEUR 30,000) and is accordingly recognized in the consolidated statement of financial position as a non-current liability (see Note 19).

All disclosed related parties are either related through the Esperante Investments S.à r.l. ownership structure or through managerial control. Esperante Investments S.à r.l. is a higher parent company of the majority shareholder Draupnir Holding B.V.

Purchases from and amounts due to Thalamus AB relate to rental of premises.

Income from and amounts due from the Ferring Group relate to sale of goods.

Purchases from Monedula AB relate to the lease of premises. Income from Monedula relate to property management fees and recharged improvements to the premises. Amounts due to Monedula AB relate to the financial liability recognized for the lease of premises as disclosed in Note 18.

Income from SVAR Life Science AB relates to sale of goods.

Purchases from and amounts due to Limhamn Kajan 37 AB relate to rental of premises.

During 2025, no provisions for doubtful debt and no write-offs on receivables from related parties were recognized (2024: nil). No guarantees were given or received in 2025 for any outstanding related party balances (2024: nil).

Transactions with key management personnel

Compensation of key management personnel of the Group:

Reference is made to Note 4 for further details on the share-based payment expense.
Key management personnel are considered all members of the Executive Committee and the Board of Directors.