ALLOX raises $10.5 million to map hard-to-drug protein targets

Barcelona-based ALLOX has closed a $10.5 million (€9.4 million) seed round led by Asabys through Sabadell Asabys II, with CDTI through SICC Innvierte and the Institut Català de Finances participating. The company announced the financing on October 29, alongside the appointment of Morten Graugaard as independent chair. ALLOX combines high-throughput genetics, experimental biology and AI to map protein regions that control folding and interactions. By measuring the effects of thousands of mutations in parallel, it aims to identify allosteric and other regulatory sites that can be targeted by small-molecule medicines, including on historically difficult protein-protein interactions and transcription factors. The money will expand its experimental platform and proprietary AI models, strengthen the discovery team and advance an internal pipeline of small-molecule programmes. ALLOX is a spin-out of the Centre for Genomic Regulation. The announcement describes research and development plans, not approved medicines or demonstrated clinical efficacy.

DTT summary based on Tech.eu's report. The full article is on the publisher's site.