Allergy Therapeutics

What Allergy Therapeutics does

Allergy Therapeutics plc (AIM: AGY) is a UK-based specialty pharmaceutical company developing and commercialising allergy immunotherapy vaccines for the treatment and prevention of allergic disorders. Founded in 1934 (with the current corporate entity listed on AIM in 2004) and headquartered in Worthing with 600+ employees, the company serves patients with grass, tree and house dust mite allergies and, in development, peanut allergy. Its core technology combines a proprietary virus-like particle (VLP) platform with biodegradable aluminium-free adjuvant systems developed since the 1970s, allowing shorter-course regimens of 4-6 injections over 3-5 weeks versus 50-100 injections for many conventional immunotherapies.

The commercial portfolio is anchored by Grassmuno, the first new subcutaneous grass pollen immunotherapy approved in Germany in 20 years, which launched in January 2026 and drove 7% H1 FY2026 revenue growth to £36.3m. The pipeline is led by VLP Peanut, whose Phase I/IIa PROTECT trial reported statistically significant reductions in basophil sensitivity (376% for peanut, p=0.003; 489% for Ara h2, p=0.04) and supports progression into Phase IIb. Manufacturing is conducted at the 11,000m2 Worthing facility and at Alcalá de Henares in Spain under GMP/GDP/GCP compliance.

Revenue is generated almost entirely through B2B sales of vaccine products via 9 wholly-owned European subsidiaries (UK, Germany, Austria, Switzerland, Italy, Netherlands, Spain and others) plus distribution agreements in 3 additional countries, with products ultimately dispensed through hospitals and pharmacies. The company reported £55.0m revenue, £(12.8)m operating loss excluding R&D and £(40.1)m net loss for FY2024, while securing £55m in warrant proceeds and a £50m loan facility in October 2025 alongside shareholder approval to issue up to 610m new shares ahead of a potential Hong Kong dual primary listing. A mandatory cash offer from ZQ Capital's SkyGem vehicle introduces a going-private scenario that may redefine the corporate trajectory.

Name

Allergy Therapeutics

Legal name

Allergy Therapeutics PLC

Website

https://allergytherapeutics.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Allergy Therapeutics plc is a UK-listed specialty biopharma (AIM: AGY) developing and commercialising short-course aluminium-free allergy immunotherapy vaccines across 9 European countries, with Grassmuno recently launched in Germany and a VLP Peanut programme in clinical development.

Ownership category

akta.pro rank

Product category

Allergy Immunotherapy Vaccines

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Allergy Immunotherapy Biologics (allergen extracts, desensitization) (HLAAAEAI)

akta.pro secondary industries

Allergen Immunotherapy (SCIT/SLIT) Services (HLAKAAAF), Pulmonology & Allergy Specialty Pharmaceuticals (HLAIACAF), Respiratory & Allergy Pharmaceuticals (HLAIAAAH), Therapeutic Vaccines (cancer, chronic infection immunotherapy) (HLAAAEAB), Autoimmune & Allergy Diagnostics (HLAAALAK)

Keywords

• Allergy immunotherapy
• Allergen vaccines
• Subcutaneous immunotherapy
• Biodegradable adjuvants
• Virus-like particle vaccines

Headquarters

HQ city

Worthing

HQ country

United Kingdom

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Product Sales (Immunotherapy Vaccines): Revenue generated from the sale of allergy immunotherapy vaccines across European markets. The company reported £36.3 million revenue for H1 FY2026 (7% YoY growth) and £55.0 million for FY2024. Products include Grassmuno (subcutaneous grass pollen immunotherapy) launched in Germany in January 2026.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Allergy Therapeutics is a European-based speciality pharmaceutical company that develops, manufactures, and commercialises allergy immunotherapy vaccines. Its portfolio includes subcutaneous immunotherapies for grass pollen (Grassmuno), tree pollen, and house dust mite allergies, all formulated with proprietary aluminium-free, biodegradable adjuvants. The company is also advancing a virus-like particle (VLP) peanut allergy vaccine through clinical development, with shorter-course dosing regimens (4–6 injections over 3–5 weeks) compared with conventional therapies requiring 50–100 injections.

Product overview

Allergy Therapeutics is a biotechnology company offering a portfolio of allergy immunotherapy products and vaccines. The core portfolio includes Grassmuno (subcutaneous grass pollen immunotherapy approved in Germany in 2025/2026) and VLP Peanut (a peanut allergy vaccine in clinical development). The company also manufactures and sells immunotherapy vaccines for grass, tree, and house dust mite allergies across nine major European countries. All products feature aluminium-free, biodegradable adjuvants and are designed for shorter treatment courses (4-6 injections over 3-5 weeks) compared to alternative therapies requiring 50-100 injections.

Differentiator

Problem solved

Functional benefit

Brands

• Grassmuno: Subcutaneous grass pollen immunotherapy product approved in Germany in December 2025, representing the first new product launch in Germany in 20 years.
• VLP Peanut

Products and services

• Grassmuno A subcutaneous grass pollen immunotherapy vaccine offering a short-course regimen of 4–6 injections over 3–5 weeks. Approved in Germany in December 2025 and launched in January 2026 for the treatment of grass pollen allergy in adults, dispensed through hospitals and pharmacies and prescribed by healthcare professionals.
• Allergy Immunotherapy Vaccines (Grass, Tree, House Dust Mite) A portfolio of subcutaneous allergen-specific immunotherapy vaccines covering grass pollen, tree pollen and house dust mite allergies. All formulations use natural biodegradable, aluminium-free adjuvants and are intended for prescription and administration by allergists and immunologists.
• VLP Peanut A peanut allergy vaccine based on proprietary virus-like particle (VLP) technology currently in clinical development. The PROTECT Phase I/IIa trial showed favourable safety and statistically significant efficacy biomarkers, with the company preparing a Phase IIb trial.

Quantifiable outcome

• 7% revenue growth to £36.3 million in H1 FY2026
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Healthcare Facilities and Pharmacies (unspecified)coreOthersThe company distributes its immunotherapy vaccines through hospitals and pharmacies across European markets. The Market Support team serves as the link between manufacturing and these healthcare outlets, dealing with customer queries and ensuring products are delivered on time.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• ALK-Abelló: ALK-Abelló is the world's largest allergy immunotherapy company, offering subcutaneous and sublingual treatments for grass, tree, mite and other allergies. It is the most direct comparable to Allergy Therapeutics given its overlapping product portfolio, European commercial footprint, and pipeline focus on allergy vaccines.
• HAL Allergy: HAL Allergy is a European allergy immunotherapy specialist offering diagnostic and therapeutic products for pollen, mite and venom allergies. It is a direct peer through its European footprint, comparable subcutaneous immunotherapy portfolio and HCP-driven commercial approach.
• Stallergenes Greer: Stallergenes Greer is a global specialty biopharmaceutical company focused on allergy immunotherapy, with subcutaneous and sublingual products sold across Europe and the US. Its product mix, allergen extract technology and HCP-facing commercial model directly parallel Allergy Therapeutics' business.
• Inmunotek (Leti Pharma): Inmunotek, the merged entity including Leti Pharma, develops and markets allergy immunotherapy and immunology products across Europe and Latin America. It is a direct peer given its overlapping allergen-specific immunotherapy portfolio and European commercial reach.

Emerging players

• Aimmune Therapeutics (Nestlé Health Science): Aimmune, a Nestlé Health Science subsidiary, develops and commercializes Palforzia, an oral immunotherapy for peanut allergy. It is an emerging competitor to Allergy Therapeutics' VLP Peanut program, addressing the same food allergy market with a different mechanism and delivery format.
• DBV Technologies: DBV Technologies is developing Viaskin, a patch-based epicutaneous immunotherapy platform targeting peanut and other food allergies. It is an emerging peer competing in the same peanut allergy space as VLP Peanut, with a differentiated non-injection delivery mechanism.
• Revolo Biotherapeutics: Revolo Biotherapeutics is a clinical-stage biotech developing immune-modulating therapies for allergic and autoimmune diseases. It represents an emerging peer in the broader allergy immunology space that may compete with or complement Allergy Therapeutics' pipeline expansion.

Broad incumbents

• Sanofi: Sanofi operates a large respiratory and allergy portfolio including Dupixent and OTC allergy brands. It is a broad incumbent competing in the overall allergy treatment market, particularly relevant if it expands into food allergy or immunotherapy adjacencies.
• GSK (GlaxoSmithKline): GSK is a global biopharma with a major respiratory and allergy franchise (e.g., Nucala, Trelegy) and broad OTC allergy offerings. It competes with Allergy Therapeutics in the wider allergy/respiratory treatment market but does not specialize in subcutaneous allergen-specific immunotherapy.

Others

• Thermo Fisher Scientific (Phadia): Thermo Fisher's Phadia division is a global leader in allergy diagnostics (ImmunoCAP), supplying the testing infrastructure used by allergists before prescribing immunotherapy. It is an adjacent ecosystem player rather than a direct competitor but is highly relevant to the same HCP and patient workflow.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/allergy-therapeutics

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allergy Therapeutics