ALLOX, a biotechnology company developing a high-throughput, experimental-first platform to discover and exploit allosteric sites and other regulatory regions for drug discovery, has announced the closing of its $10.5m seed financing round and the appointment of Morten Graugaard as independent chair of its board of directors.
The proceeds will be used to scale and expand ALLOX’s platform capabilities and to develop proprietary AI models that predict therapeutic hotspots from the company’s large, function-first biophysical datasets, accelerating the discovery of selective allosteric modulators of protein-protein interactions and transcription factors.
The financing will also strengthen ALLOX’s internal drug discovery team as it advances multiple drug discovery programs towards a focused pipeline of proprietary small-molecule assets, while enabling strategic research collaborations with pharmaceutical and biotechnology partners.
Júlia Domingo, CEO and co-founder of ALLOX, said: “This financing marks an important milestone, enabling us to advance our internal drug discovery pipeline while expanding the capabilities of our experimental platform and proprietary AI models. By combining large-scale functional data with predictive AI, we aim to unlock a much broader range of challenging drug targets and accelerate the discovery of truly differentiated small-molecule therapeutics.
“Morten’s guidance and leadership, along with the support of our investors, will be instrumental in advancing our programmes and maximising the long-term potential of our platform.”