US-based drug discovery platform provider Alloy Therapeutics has completed a $75m series C round that included Alexandria Venture Investments, the venture capital arm of life sciences real estate investment trust Alexandria Real Estate Equities.
VC firms 8VC and Presight Capital co-led the round with entrepreneur Peter Thiel, and it also featured Founders Fund, Gaingels, Mubadala Capital, Luma Bio-IT, Ulysses Diversified Holdings and an unnamed sovereign wealth fund.
Founded in 2017, Alloy provides drug discovery technology and services for academic scientists, biotechnology companies and biopharmaceutical firms. Its main platform, ATX-Gx, uses immunocompetent transgenic mice strains to discover human antibodies.
The company will use the proceeds of the series C round to secure new partnerships internationally and to expand its offering into areas related to its core business.
Errik Anderson, CEO and founder of Alloy, said: “The path to translate an idea into lifesaving medicine is long, challenging, and uncertain. At Alloy, we are building an ecosystem of collaboration across the biopharma community to reduce the barriers of translation and make better medicines together.”
Alloy has not disclosed details of earlier funding but identified Alexandria Venture Investments, Luma Bio-IT and Ulysses Diversified Holdings as existing backers.