Springvest released this kind of PRESS release today
Finnish drug development company Desentum has closed an oversubscribed funding round totaling 28 million euros, ranking among the largest in its field in Finland. The round was organized throughout the spring and summer by investment service company Springvest.
Launched in March, the funding round saw participation from professional investors, family offices, and private investors. The 28-million-euro equity round is one of the largest ever for an unlisted drug development company in Finland*.
Desentum is developing a novel allergen immunotherapy using genetically engineered allergens, which, if successful, could improve the lives of hundreds of millions of people. Various allergies are becoming increasingly common, with 150 million people currently suffering from allergies in Europe alone.
Next clinical results expected by the end of the year
Desentum CEO Pekka Mattila says that the raised funds will enable the company to fully advance its three flagship projects, which focus on birch pollen, peanut, and cat allergies.
“Our goal is to make immunotherapy more effective, safer, and easier for the patient. We use investors’ capital responsibly and in ways that bring the products developed by Desentum toward regulatory approval as efficiently as possible,” he says.
In its birch allergy trial, Desentum is already in clinical Phase II, where efficacy is being studied in approximately one hundred patients. Results are expected before the end of this year. Clinical results to date have been very promising in terms of both safety and the immunological impact of the treatment.
“From a business perspective, our goal is to take the product through Phase II and thereby achieve clinical proof of concept, and then consider options, which may include strategic partnerships or an IPO,” Mattila says.
Springvest CEO Aki Soudunsaari states that Springvest, as an owner, has purposefully financed Desentum’s growth journey with a total of 54 million euros.
“We believe in Desentum’s team and unique technology, which has the potential to scale to treat numerous different allergies. The company has the potential to become a global leader in its field,” he says.
“In our half-year report, we announced that we already own just over seven percent of Desentum. This share will increase once the remaining holdings acquired this year are registered,” he explains.
Springvest, as an owner, has purposefully financed Desentum’s growth journey with a total of 54 million euros. “We believe in Desentum’s team and unique technology, which has the potential to scale to treat numerous different allergies. The company has the potential to become a global leader in its field,” he says. Springvest Oyj
Promising growth companies deserve larger funding and skilled owners
In recent years, Springvest has significantly increased the size of the funding rounds it organizes. For instance, in the summer and autumn of 2025, it organized a 45-million-euro funding round for satellite company ReOrbit, which was the largest Series A round in Finland’s history.
“Too often in Finland, we find ourselves in a situation where a growth company has multiple willing financiers, but a lead investor or a party to bring the different financiers together is missing,” says Soudunsaari.
Springvest is known for arranging funding rounds for unlisted growth companies, but it is also an investment holding company. Through these funding packages, it accumulates holdings in growth companies for its equity portfolio.
Consequently, in 2026, the company expanded its focus from organizing individual funding rounds to growing its growth company portfolio. The key to this is selecting high-quality unlisted tech companies for the rounds, building successful financing packages for them, and acting as a partner in their growth.
The company has also taken on a more active role as an owner in selected portfolio companies. In addition to the financing package, Springvest has supported Desentum’s work by nominating Aki Kamppinen, a former member of the Springvest board, to the company’s board of directors. Kamppinen was elected to Desentum’s board in the summer.
“Building a growth company to international success requires not only capital, but also skilled owners and a solid support network,” Soudunsaari concludes.
*The most recent record is from September: Kasvu Therapeutics raised a 30-million-euro round, which is the largest funding ever raised by an unlisted drug development company in Finland. Talouselämä article on Kasvu Therapeutics’ round.
Info: Desentum’s 28-million-euro funding round
€18M public offering on Springvest’s growth investment platform in spring 2026
€10M from professional venture capital investors
Desentum is a clinical-stage drug development company developing a novel allergy immunotherapy. The company aims to alter the way the immune system reacts to allergens.
The funding round was organized by investment services company Springvest Oyj, which connects promising Finnish technology companies with growth investors.
