Finnish biotech company Desentum has successfully closed an oversubscribed EUR 28 million equity round, marking one of the largest fundraising efforts for a private Finnish drug development firm. This capital is intended to propel the development of their innovative allergy vaccines, with a significant focus on new immunotherapy approaches based on genetically engineered allergens. Desentum's birch allergy program is already in a Phase II clinical trial, with promising results anticipated by the end of 2026.
The funding will enable Desentum to advance all three of its primary programs targeting birch, peanut, and cat allergies, moving closer to regulatory approval. CEO Pekka Mattila emphasized the importance of responsible capital use, aiming to navigate toward potential licensing, M&A opportunities, or an initial public offering as the development progresses.