Summary
Source: Tech.eu Read the original article
What this means for you
The article describes a $10.5 million seed funding round for ALLOX and expansion of its drug discovery platform. It says the company plans to strengthen its internal drug discovery team, but gives no details on where those roles would be or whether they would be open to readers in the US. It does not state any effects on US visas, immigration, prices, education, safety or family life.
Biotechnology company ALLOX has raised
$10.5 million in a seed funding round to expand its drug discovery platform and
advance its internal development programmes. The round was led by Asabys
through its Sabadell Asabys II fund, with participation from CDTI through SICC
Innvierte and the Institut Català de Finances (ICF).
ALLOX is developing a drug discovery
platform that combines high-throughput genetics, experimental biology and
artificial intelligence to identify previously unexplored opportunities for
developing small-molecule therapeutics.
Drug discovery remains challenging for
certain biological targets, particularly protein-protein interactions and
transcription factors, which have historically been difficult to address with
conventional approaches. ALLOX aims to overcome these limitations by
identifying regulatory regions within proteins that could serve as potential
targets for new treatments.
The company's platform measures the
effects of thousands of genetic mutations in parallel to map regions that
influence protein folding and interactions. This approach enables the
identification of allosteric, orthosteric and other regulatory sites, including
potential binding pockets that could be used to develop targeted small-molecule
drugs.
Júlia Domingo, CEO and co-founder of
ALLOX, said:
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.
Alongside the funding announcement,
ALLOX has appointed Morten Graugaard as Independent Chair of its Board of
Directors. He brings more than two decades of experience in life sciences
investment, R&D and business development, having previously held senior
positions at Orbis Medicines, Novo Holdings and Lundbeck.
Commenting on his appointment,
Graugaard highlighted ALLOX's approach to drug discovery, which combines
experimental biology and computational methods to identify therapeutic
opportunities that have traditionally been difficult to address:
Importantly, ALLOX fills a
critical data gap, enabling the development of functional molecules rather than
simply identifying binders.
The new funding will support the
expansion of the platform's capabilities and the development of proprietary AI
models designed to predict therapeutic opportunities from large-scale
biophysical datasets.
ALLOX also plans to strengthen its internal drug discovery
team, advance multiple research programmes towards a pipeline of proprietary
small-molecule drug candidates and establish research collaborations with
pharmaceutical and biotechnology partners.
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Source: Tech.eu
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