Finnish biotech company Desentum raises €28 million to develop faster, safer allergy immunotherapy
Desentum, a Finnish clinical-stage biopharmaceutical company, has closed an oversubscribed €28 million equity round to advance its allergy vaccines. The round is one of the largest ever raised by a private Finnish drug development company*. It was led by Finnish investment firm Springvest.
Desentum is developing a new type of allergen immunotherapy based on genetically engineered allergens. Its vaccines are designed to make immunotherapy more effective, safer and easier for patients.
If the approach succeeds, it could make life easier for hundreds of millions of people. Allergies are becoming more common, and in Europe alone 150 million people live with an allergy.
Phase II results expected by the end of the year
According to CEO Pekka Mattila, the new funding allows Desentum to fully advance its three 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 our investors’ capital responsibly, and in ways that move our products towards regulatory approval as efficiently as possible,” he says.
The birch allergy programme is already in a Phase II clinical trial that is testing efficacy in around 100 patients. Results are expected before the end of this year. Clinical results so far have been very promising, both on safety and on the treatment’s immunological effect.
“On the business side, our aim is to take the product through Phase II and achieve clinical proof of concept. After that, we will consider our options, which could include a strategic partnership or an IPO,” Mattila says.
Springvest has arranged a total of €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 Springvest CEO Aki Soudunsaari.
Larger rounds for promising growth-stage companies
Springvest arranges funding rounds for private growth-stage companies and holds stakes in many of them. The rounds it arranges have grown considerably in recent years. In 2025, it arranged a €45 million round for satellite company ReOrbit, the largest Series A in Finnish history.
“In Finland, growth companies too often have several interested investors but no lead investor, or no one to bring the investors together,” Soudunsaari says.
“Building a growth company to international success takes more than capital. It also takes capable owners and strong backers,” he adds.
Key facts: Desentum’s €28 M round
- Arranged by investment firm Springvest, which connects promising Finnish technology companies with growth investors
- €18 million public share issue on Springvest’s growth investment platform in spring 2026
- €10 million from professional investors
- Desentum is a clinical-stage biopharmaceutical company developing a new type of allergy immunotherapy. The company aims to change the way the immune system reacts to allergens.
- Also covered in European Biotechnology: Desentum secures €28M for faster allergy immunotherapy, and Nordic Life Science: Desentum raises EUR 28 million for allergy vaccines
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