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Biotechnology company ALLOX has completed a $10.5 million seed round of financing, led by Asabys through the Sabadell Asabys II fund, with participation from CDTI's SICC Innvierte and the Catalan Finance Institute (ICF). According to Tech.eu, ALLOX's platform combines high-throughput genetics, experimental biology, and AI to measure in parallel the effects of thousands of gene mutations, in order to identify allosteric and orthosteric regulatory sites as well as potential binding pockets for the development of small-molecule drugs. The funds will be used to expand the platform's capabilities, develop proprietary AI models that predict therapeutic opportunities, and advance multiple research programs toward a proprietary small-molecule drug candidate pipeline. No further progress has been disclosed at present.
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ALLOX Completes $10.5 Million Seed Round to Expand Drug Discovery PlatformDevelopments
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- Source:Tech.eu
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Oct 29
Tech.eu
ALLOX Completes $10.5 Million Seed Round to Expand Drug Discovery Platform
Biotech company ALLOX has completed a $10.5 million seed round led by Asabys through the Sabadell Asabys II fund, with participation from CDTI's SICC Innvierte and the Institut Català de Finances (ICF). ALLOX's platform combines high-throughput genetics, experimental biology, and AI to measure in parallel the effects of thousands of gene mutations, in order to identify allosteric, orthosteric, and other regulatory sites as well as potential binding pockets for the development of small-molecule drugs. The funding will be used to expand the platform's capabilities, develop proprietary AI models that predict therapeutic opportunities, and advance multiple research programs toward a proprietary small-molecule drug candidate pipeline.