Desentum, a Finnish clinical-stage biopharmaceutical company, has closed an oversubscribed €28 million equity round to advance its allergy immunotherapy programmes. The round, arranged by Finnish investment firm Springvest, is one of the largest ever raised by a privately held Finnish drug development company.
Desentum is developing a new type of allergen immunotherapy based on genetically engineered allergens. If successful, it could benefit hundreds of millions of people. Allergies are becoming more common, and in Europe alone more than 150 million people live with an allergy.
Phase II results expected by the end of 2026
According to CEO Pekka Mattila, the new funding allows Desentum to advance all three of its lead programmes, which target birch, peanut and cat allergy.
“Our goal is to make immunotherapy more effective, safer and easier for patients. We will use the raised capital responsibly, and in ways that move our products towards regulatory approval as efficiently as possible,” he says.
The birch allergy programme is in a Phase II clinical trial assessing efficacy in around 100 patients, with results expected before the end of the year. Earlier clinical results have been encouraging, both for safety and for the treatment’s immunological effect.
“On the business side, our aim is to reach the clinical proof-of-concept in Phase II, after which we will pursue strategic partnerships or an IPO,” Mattila says.
To date, Springvest has arranged funding rounds totalling €54 million for Desentum and is also a major shareholder in the company.
“We believe in Desentum’s team and its unique technology, which could be applied to many different allergies. The company has the potential to become a global leader in its field,” says Springvest CEO Aki Soudunsaari.
About Desentum
Desentum Oy is a clinical-stage biopharmaceutical company based in Espoo, Finland, leveraging high-resolution protein engineering and novel formulations for designing allergen immunotherapies that enable short-course treatment to restore long-term tolerance. Desentum, founded in 2011, is a spin-off company from VTT Technical Research Centre of Finland Ltd. With its product development, Desentum targets both respiratory and food allergies.
Contact:
Springvest, CEO Aki Soudunsaari, aki.soudunsaari@springvest.fi, 040 822 6322
Desentum, CEO Pekka Mattila, pekka.mattila@desentum.fi