According to the company, it is one of the largest rounds ever raised by a private Finnish drug development company. The round was arranged by the Finnish investment firm Springvest.

Desentum is developing a new type of allergen immunotherapy based on genetically engineered allergens.

Phase II birch results due this year

The new funding allows Desentum to fully advance its three lead programs, which target birch, peanut, and cat allergy. The birch allergy program is already in a Phase II trial testing efficacy in around 100 patients, with results expected by the end of 2026. Clinical results so far have been very promising, both on safety and on immunological effect, the company says.

“Our goal is to make immunotherapy more effective, safer, and easier for patients. We will use our investors’ capital responsibly, and in ways that move our products toward regulatory approval as efficiently as possible,” says Pekka Mattila, CEO, Desentum. “On the business side, our aim is to take the product through Phase II and then move toward licensing, an M&A deal, or an IPO.”

Springvest has arranged a total of EUR 54 million for Desentum to date and is also a major shareholder in the company.

“We believe in Desentum’s team and its unique technology, which could scale to treat many different allergies. The company has the potential to become a global leader in its field,” says Aki Soudunsaari, CEO, Springvest. “In Finland, growth companies too often have several interested investors but no lead investor, or no one to bring the investors together.”