ALLOX, a techbio company, announced its incorporation, as well as the successful closing of an undisclosed pre-seed financing from Asabys new fund Sabadell Asabys II. The fund has backed the company and will join a future round involving local and international investors.
ALLOX is a spin-off from the Centre for Genomic Regulation (CRG) in Barcelona, and is co-founded by Ben Lehner, Júlia Domingo, Pablo Baeza and Andre Faure. The company, with lab and office at the CRG/PRBB, has a unique systematic and scalable platform which can map allosteric sites in a large amount of proteins, including ‘undruggable’ or hard-to-target therapeutic targets.
This financing by Sabadell Asabys will allow ALLOX to establish the initial team and facilities and to reach the level of validation and data that should trigger a new financial round in 18 to 24 months from now. Asabys has successfully backed several other spin-offs and early-stage companies such as the CataloniaBio & HeathTech members Ona Therapeutics, SpliceBio, Inbrain Neuroelectronics and Nuage Therapeutics and also OrikineBio and Origo Biopharma.
Clara Campàs, Managing Partner at Asabys, mentions “ALLOX’s outstanding technology and team have the potential to revolutionize the way we design and discover new and better medicines. We look forward to continuing working side by side with the founders to bring such innovation to patients”.
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