Barcelona-based biotech startup ALLOX has raised $10.5 million in a seed financing round led by Asabys Partners through its Sabadell Asabys II fund, with participation from CDTI Innovación through its SICC Innvierte programme and the Institut Català de Finances (ICF).
- Founded in 2023 by Júlia Domingo, ALLOX combines high-throughput genetics, experimental biology and AI to map functional hotspots and regulatory regions in proteins.
- Its platform identifies potential drug targets, including protein-protein interactions and transcription factors, which have historically been difficult to address through conventional drug discovery approaches.
Details of the deal
- With the fresh capital, the company aims to expand its biophysics and AI-powered drug discovery platform, develop proprietary AI models based on its experimental datasets and advance its pipeline of small-molecule therapeutics.
- The funding will also support the expansion of its internal drug discovery team and strategic research collaborations with pharmaceutical and biotechnology partners.
“We believe ALLOX is uniquely positioned to expand the scope of druggable biology. The seed financing and Morten’s appointment strengthen both the company’s execution capacity and governance as it advances its platform and begins to translate it into a focused therapeutic pipeline," claims Clara Campàs, co-founder and Managing Partner at Asabys Partners.
