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Market: AIM:AGY
52-week High/Low: 39.50p / 23.00p
Sector: Pharma & Biotech
Market Cap: 157.44M
Allergy Therapeutics plc (LON:AGY)

Allergy Therapeutics plc

We provide information to healthcare professionals about the prevention, diagnosis and treatment of allergic conditions with a special focus on allergy vaccination (also known as specific immunotherapy or desensitisation therapy). Allergy vaccination is a successful treatment that deals with the underlying cause of allergies and not just the symptoms! Allergy Therapeutics has a long-term...

Allergy Therapeutics plc

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Big picture - Why invest in Allergy Therapeutics plc

Allergy Therapeutics plc Snapshot

Corporate Overview

Allergy Therapeutics® is a Europe-based specialty pharmaceutical company focused upon the diagnosis and treatment of allergy. Allergy Therapeutics has an existing sales base of approximately £40 million per annum, an MHRA-approved manufacturing capability, as well as an established sales and marketing infrastructure in several major European markets. In addition, the Company has a number of novel compounds which have already undergone initial clinical evaluation and, once registered, could potentially revolutionise the treatment of allergy.

Allergy Therapeutics offers:

  • An established range of diagnostics and specific immunotherapy vaccines.
  • Certain exclusive rights to MPL® - a novel immunological adjuvant in the field of allergy.
  • An innovative product development pipeline supported by documented clinical evidence of efficacy and safety.
  • Intellectual property rights to five patent families. Patent protection extending between 2018-24.
  • A highly qualified scientific and commercial team with industry experienced management.
  • A European sales and marketing team in Germany, Italy, Spain, UK, Netherlands and Austria, plus a distributor network in Canada, Eastern Europe and South Korea.
  • High-quality facilities that offer compliance with Current Good Manufacturing Practices (CGMP) and increased production capacity.


Our aim is to create a sustainable, fast-growing and profitable European pharmaceutical business with a substantial franchise in the allergy sector. We will achieve this by developing innovative, patented, registered aluminium-free therapies for both the treatment and prevention of allergy-related conditions.

Business, Commercial & Development Strategy

Allergy Therapeutics is a European pharmaceutical company. Its sales and much of its development effort are focused on the area of immunotherapy for allergy. Immunotherapy acts on the underlying immunological cause of the disease. It thereby provides continued treatment which addresses the symptoms of the disease. The right immunotherapeutic products should have great commercial potential.

Allergy Therapeutics' strategies are therefore to:

  • Continue to build our European commercial infrastructure.
  • Continue developing improved allergy vaccines with novel adjuvants, improved dosing characteristics, patient compliance and new delivery formulations that result in a patent protected, registered product.
  • Broaden the portfolio through the in-licensing and co-development of selected products.
  • Develop the aluminium-free vaccines.
  • Identify strong commercial partners for non-European specialist markets.
  • To develop opportunities with allergy vaccines in the US market.

Our Products

Pollinex® Trees


Pollinex® Trees contains glutaraldehyde-modified, standardised allergen extracts (allergoids) of 3 common tree pollens: (Alder (Alnus spp.), Birch (Betula spp.) and Hazel (Corylus spp.)) adsorbed onto L-tyrosine. Other ingredients contained in Pollinex® Trees include: L-tyrosine, phenol, glycerol, sodium chloride, buffer salts and water for injections.


Pollinex® Trees is indicated for treatment of seasonal allergic hayfever due to tree pollen in patients who have failed to respond adequately to anti-allergy drugs. Careful consideration of the patient's history and diagnosis with a positive skin prick test and/or IgE test need to be conducted prior to treatment.

Method of Administration

Pollinex® Trees is formulated as a subcutaneous injection.


Pollinex® Trees is presented in vials. The packs available are as follows:
Initial Course: 3 vials (No. 1 – No. 3) containing graduated doses (300 standardised units (SU)/0.5 ml (No. 1), 800 SU/0.5 ml (No. 2) and 2,000 SU/0.5 ml (No. 3))
Extension Course: 1 vial of the No. 3 strength (2,000 SU/0.5 ml)
Click here for the UK Summary of Product Characteristics (SPC)
Click here for the Extension Course UK Summary of Product Characteristics (SPC)


Pollinex® Grasses + Rye

Pollinex Grasses and Rye Allergy Therapeutics


Pollinex® Grasses + Rye contains glutaraldehyde-modified, standardised allergen extracts (allergoids) of the following 13 common grass pollens adsorbed onto L-tyrosine:
Foxtail (Alopecurus pratensis), Crested Dogstail (Cynosurus cristatus), Cocksfoot (Dactylis glomerata), Rye grass (Lolium perenne), Meadow grass (Poa pratensis), Vernal (Anthoxanthum odoratum), Fescue (Festuca pratensis), Bent (Agrostis tenuis), Timothy (Phleum pratense), Brome (Bromus spp.), Oat grass (Arrhenatherum elatius),Yorkshire Fog (Holcus lanatus), Cultivated Rye (Secale cereale).

Other ingredients contained in Pollinex® Grasses + Rye include: L-tyrosine, phenol, glycerol, sodium chloride, buffer salts and water for injections.


Pollinex® Grasses + Rye is indicated for treatment of seasonal allergic hayfever due to grass pollen in patients who have failed to respond adequately to anti-allergy drugs. Careful consideration of the patient's history and diagnosis with a positive skin prick test and/or IgE test need to be conducted prior to treatment.

Method of Administration 

Pollinex® Grasses + Rye is formulated as a subcutaneous injection.


Pollinex® Grasses + Rye is presented in vials. It is available in packs containing both the following courses:

Initial Course: 3 vials (No. 1 – No. 3) containing graduated doses (300 standardised units (SU)/0.5 ml (No. 1), 800 SU/0.5 ml (No. 2) and 2,000 SU/0.5 ml (No. 3))
Extension Course: 1 vial of the No. 3 strength (2,000 SU/0.5 ml)
Click here for the UK Summary of Product Characteristics (SPC)
Click here for the Extension Course UK Summary of Product Characteristics (SPC)


Skin Prick Testing

This is the primary mode of testing for immediate IgE-mediated allergy. It is widely practised and can provide high-quality information when performed optimally and interpreted correctly.

Small amounts of allergen are introduced into the epidermis and interact with specific IgE bound to cutaneous mast cells. Histamine and other mediators are released, leading to a visible “wheal-and-flare” reaction peaking after about 15 minutes. Skin prick testing should be used to confirm the diagnosis of allergy when added to the history and clinical examination. It differentiates allergic diseases from other mimicking conditions. It may lead to allergen avoidance strategies, improved use of medications, and for some patients, Immunotherapy.

“Skin prick testing is usually the first test recommended when an allergy is suspected. The advantages are that it is a simple, quick (providing results within 15-20 minutes) and inexpensive form of testing.”

Allergy UK

The UK guideline “Good Allergy Practice” contains the following statement:

“A diagnosis of allergy is based first and foremost on a careful clinical history.
Skin tests should be used to support (or otherwise) a diagnosis of allergy. The skin prick test is the method of choice for the diagnosis of immediate-type hypersensitivity.”


To view Diagnostic Products please click here

Allergy Therapeutics Peter Jensen

Peter Jensen - Non-Executive Chairman

Peter joined the Board in October 2010 and was appointed Non-Executive Chairman on 1st January 2011. As Non-Executive Chairman, Peter is responsible for the leadership of the Board by ensuring clear company strategy, board effectiveness, good corporate governance and effective communication with shareholders.
Peter held a number of senior roles in his 21 years with SmithKline-Beecham. Between 1994 and 1998, he was Chairman of Consumer Healthcare Europe. Then between 1998 and 2001 he held the position of President of Worldwide Supply Operations, based in Philadelphia.
Since leaving SmithKline-Beecham at the time of the merger with Glaxo, Peter has held a number of non-executive director and chairman roles for various public and private companies. These include Domino Printing Sciences plc, Glenmorangie plc, Genetix Group plc, Celsis International plc and Victoria plc.
In addition to his role at Allergy Therapeutics, Peter is currently Chairman of Nottingham Racecourse, Screendragon Limited, The Home of Horseracing Trust Limited and The British Sporting Art Trust.
Peter chairs the Nomination Committee and is also a member of the Audit Committee.

Allergy Therapeutics Stephen Smith

Stephen Smith - Non-Executive Director

Stephen is a Chartered Management Accountant, Fellow of the Association of Corporate Treasurers and Member of the Institute for Turnaround. Since 1995, he has operated as an independent executive, Non-Executive Director and interim manager (CRO/CEO/COO/FD) on an international basis. Up to 1995, Stephen held various senior financial positions in UK-based international public companies, including 6 years as Group Treasurer of The Rank Organisation and 3 years as Group Finance Director of a quoted hotel company.
Stephen chairs the Audit and Remuneration Committees, is a member of the Nomination Committee that he chaired until 1st January 2011 and is the Senior Non-Executive Director.


Allergy Therapeutics Thomas Lander

Thomas Lander - Non-Executive Director

Thomas is board-certified in internal medicine and diabetology and, moreover, has a strong scientific background in oncology and immunology with a special emphasis on immunotherapy. He trained at the Technical University and the Institute for Immunology, Munich, Germany. He has spent more than 25 years in senior executive positions in R&D within the pharmaceutical industry, including Boehringer Ingelheim, Novo Nordisk, Bristol-Myers-Squibb and GlaxoWellcome (GlaxoSmithKline) before joining Merck KGaA (Merck Serono) as Executive Vice President, Global Clinical R&D and Chief Medical Officer in 2003.
In 2006 he made a move to the biotech industry as Managing Director of CureVac GmbH, Tuebingen.  Since 2009, Thomas has been working as a strategic consultant and also a non-executive director for several European pharmaceutical and biotech companies.
Thomas sits on the Remuneration Committee.

Jeff Barton - Non-Executive Director

Jeff has been nominated to the Board by Abbott Laboratories and is currently Vice President, Licensing and Acquisitions at Abbott. During his time in this role, Abbott has executed several strategically important transactions including the acquisition of St. Jude Medical, CFR Pharmaceuticals and Veropharm. He joined Abbott in 1990 and during his career has held a variety of financial management positions across their businesses, including in Diagnostics, Nutrition and Pharmaceuticals.
Mr Barton holds a degree in accounting from Indiana University, and a Masters of Management from the Northwestern University Kellogg Graduate School of Management.

Allergy Therapeutics Manual Llobet

Manuel Llobet - Chief Executive Officer

Manuel joined the Group in July 2009 following the successful refinancing in which Azure Ventures Limited was the main investor. Prior to this appointment, Manuel was the Principal Consultant for Biohealth LLC and CEO of International Operations of the Weinstein family’s group of companies. Manuel was responsible for international development of the Weinstein family’s group of pharmaceutical companies in 20 countries. Manuel has over ten years’ experience working in the pharmaceutical industry, primarily in South America.
During this time he served as Executive Director of Corporación Drokasa, where he was responsible for a US$25 million AAA-rated bond issue to finance the group’s expansion plans; CEO of Laboratorios Andrómaco, where he led the group to an IPO on the Santiago Stock Exchange; and Business Development Manager for Laboratorio Chile. Manuel participated in the Executive Program at the Graduate Business School of Stanford University and has an MBA from IESE, Universidad de Navarra in Barcelona. Manuel also has degrees in Industrial Business Management and Chemical Engineering from Universitat Ramon Llull in Barcelona.
As Chief Executive Officer, Manuel is responsible for the executive management of group operations, investor relations, and implementation of the Board’s collective decisions overseeing all operational aspects of the Group and directing the long-term strategy.


Nick Wykeman

Nick Wykeman - Finance Director

Nick joined Allergy Therapeutics on 9th June 2016 as Finance Director. Nick was most recently at Skyepharma PLC until August 2015 where he was the Group Financial Controller for six years. Prior to that, he had also worked at Quest International (a part of ICI PLC) as the Group Financial Controller (Special Projects), following six years at Deloitte & Touche. Nick has a BSc (Hons) in Economics and is a qualified accountant, being a member of the Institute of Chartered Accountants of England and Wales.


For information on the Executive Management Team, please click here


Shareholder Name Amount % Holding
CFR International SPA & Associated Holding 240,584,571 40.54
Southern Fox Investments 127,283,783 21.45
Odey Asset Management 43,747,523 7.37
Invesco Asset Management 34,110,209 5.75
Black Rock Investment Management 19,000,000 3.20
Director Shareholdings (*- Executive Director)
Director Name Amount % Holding
Manuel Llobet* 3,275,000 0.55
Stephen Smith 776,513 0.13
Peter Jensen 150,000 0.03
Nick Wykeman 150,000 0.03


As at 31 October 2016

Allergy Therapeutics,
Dominion Way, 
West Sussex, 
BN14 8SA,
United Kingdom

Tel +44 (0)1903 844 700

Nomad and Broker: Panmure Gordon (UK) Limited
Panmure Gordon & Co
One New Change

Bank: Royal Bank of Scotland PLC
21 Broad Street

Auditor: Grant Thornton UK LLP
Grant Thornton House
Melton Street
Euston Square

Financial PR: Consilium Strategic Communications

41 Lothbury


Solicitors: Covington & Burling LLP & Cotley LLP
265 Strand

Cooley (UK) LLP
69 Old Broad Street

Allergy Therapeutics plc Timeline

March 16 2018
March 07 2018
February 28 2018

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