Espoo-based Desentum, a biopharmaceutical company, announced that it has raised €12M in a fresh funding round to continue the clinical development of the birch pollen allergy vaccine.
The company’s lead product candidate, birch pollen hypoallergen DM-101PX, is currently being evaluated in a clinical study in Canada.
DM-101PX is a potential medicine for treating birch pollen allergy. It contains DM-101, a modified birch pollen allergen with reduced allergy-causing properties. The medicine is designed for subcutaneous injection, and its formulation ensures controlled release of the active ingredient.
Desentum aims to reduce the number of required injections for birch pollen allergy treatment while maintaining effectiveness.
The investor!
The investment was led by Springvest Oyj.
Established in 2012, Springvest addresses the financing needs of Finnish growth companies and opens investment opportunities to a range of investors, beyond traditional angel and private equity investors.
Desentum founder Pekka Mattila, speaking on the collaboration with Springvest, says, “We have executed several funding rounds with Springvest. Their operating model is efficient and saves our time.
“It would not be possible for us to approach such a large number of investors on our own. Over the years, Springvest has developed into a full investment service company that can also attract larger investors.”
Capital utilisation
Desentum intends to use a majority of the funds to continue the clinical development of the birch pollen allergy vaccine and complete preclinical testing of a peanut allergy vaccine.
Founder Mattila says, ”In the study, we are evaluating the safety and tolerability of 10 weekly doses of DM-101PX in birch pollen allergic adults and assessing the effect of treatment on allergic symptoms by using a controlled birch pollen exposure.”
“Even though the study is still ongoing, we have already seen very promising preliminary results in terms of both safety and reduction of allergic symptoms. We are looking forward to completing the study and analysing the final results.”
Desentum is also developing additional immunotherapeutic vaccine candidates in preclinical stages, with a focus on hypoallergens for treating peanut and grass pollen allergies.
Mattila adds, “The same approach we have used for developing the birch pollen allergy vaccine can also be used for designing and producing immunotherapeutic vaccines to treat other allergies.”
“After birch pollen allergy, our next target is peanut allergy. It is one of the most common food allergies and can cause life-threatening allergic reactions. There is a great need for a safe and effective treatment for peanut allergy.”
Brief about Desentum
Founded in 2011 by Pekka Mattila, Desentum develops novel immunotherapeutic hypoallergens, commonly known as allergy vaccines.
The hypoallergens are biotechnologically produced, modified allergen proteins to improve the efficiency of allergen immunotherapy as well as reduce the time required for treatment.
The company’s focus on modifying allergen proteins aims to improve the efficiency and reduce the duration of allergen immunotherapy for various allergies.
Desentum is a spin-off company from VTT Technical Research Centre of Finland Ltd. In 2018, it was awarded a €1.9M grant from Horizon 2020 SME instrument for the first-in-human clinical trial and business development. In January 2022, the Finnish startup raised €8M from Springvest Oyj.
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