Biotechnology startup ALLOX has secured $10.5 million in a seed funding round. The investment was led by Asabys via its Sabadell Asabys II fund, with additional backing from CDTI through SICC Innvierte and the Institut Català de Finances.
The company plans to use the capital to scale its drug discovery platform and advance internal development programs. The platform integrates high-throughput genetics, experimental biology, and artificial intelligence to identify regulatory protein regions for small-molecule therapeutics.
ALLOX aims to address complex biological targets, such as transcription factors and protein-protein interactions, which are often difficult to reach with traditional methods. The system maps genetic mutations to find potential binding pockets for drug development.
Alongside the funding, Morten Graugaard has been appointed as the Independent Chair of the Board of Directors. Graugaard previously held senior roles at Novo Holdings, Orbis Medicines, and Lundbeck.
Future plans include expanding platform capabilities, developing proprietary AI models for biophysical data analysis, and growing the internal research team. The company also intends to pursue collaborations with pharmaceutical and biotechnology partners.
