The invention relates to a pharmaceutical composition for modulation of T cell and B cell responses by antigen- or allergen-specific immunotherapy in combination with peripheral tolerance-inducing phagocytosis, made of one or more preparations and comprising one or more matrices suitable for locally restricted sustained release of a physiologically effective dose of at least one antigen or allergen, liposomes tailored for effective phagocytosis, one or more immune modulators of phagocytosis, and one or more immune modulators suitable for enhancing the suppressive function of regulatory T cells at the site of antigen or allergen presentation.
