Barcelona-Based ALLOX Raises €9.4Mn to Advance Its AI-Driven Drug Discovery Platform

ALLOX has also appointed Morten Graugaard as Independent Chair of its Board of Directors. The appointment comes as the company prepares to expand its drug discovery technology and advance its research programmes.

The company will use the funding to expand its platform and develop its own AI models. These models will analyse large datasets from biological experiments to predict promising targets for new treatments. ALLOX aims to use this technology to discover selective drugs that influence protein interactions and transcription factors, which play important roles in biological processes.

The investment will also help ALLOX strengthen its internal drug discovery team and advance several research programmes towards a pipeline of its own small-molecule drug candidates. In addition, the company plans to build strategic research partnerships with pharmaceutical and biotechnology companies to support the development of new treatments.

Júlia Domingo, Chief Executive Officer and Co-Founder of ALLOX, said: “This financing marks an important milestone, enabling us to advance our internal drug discovery pipeline while expanding the capabilities of our experimental platform and proprietary AI models. By combining large-scale functional data with predictive AI, we aim to unlock a much broader range of challenging drug targets and accelerate the discovery of truly differentiated small-molecule therapeutics. Morten’s guidance and leadership, along with the support of our investors, will be instrumental in advancing our programs and maximizing the long-term potential of our platform.”

Morten Graugaard, newly appointed Independent Chair of the Board of ALLOX, commented: “ALLOX is addressing one of the most important challenges in drug discovery by unlocking therapeutic opportunities that have historically proven difficult to drug. The team is building a differentiated platform based on high-throughput biophysical data, that stands at the intersection of experimental biology and computation, with the potential to unlock new drug discovery opportunities. Importantly, ALLOX fills a critical data gap, enabling the development of functional molecules rather than simply identifying binders. I’m excited to join ALLOX at such a pivotal stage of its development and I look forward to working alongside Júlia, the leadership team and the Board as the company scales its platform and pipeline.”

Clara Campàs, Co-Founder and Managing Partner at Asabys Partners, noted: “We believe ALLOX is uniquely positioned to expand the scope of druggable biology. The seed financing and Morten’s appointment strengthen both the company’s execution capacity and governance as it advances its platform and begins to translate it into a focused therapeutic pipeline. Given his longstanding track record of success, Morten’s appointment is a huge vote of confidence in ALLOX and its approach.”

ALLOX (Allostery Exploration Technologies, S.L.) is a Barcelona-based biotechnology company developing a platform that combines laboratory experiments and artificial intelligence (AI) to discover new drug targets. The company aims to find new ways to develop treatments for diseases.

ALLOX combines genetic research, computational biology and drug discovery to identify important sites in proteins. This approach could help researchers find new treatment options for diseases that are difficult to target with existing drug discovery methods.

The company was established as a spin-out of the Centre for Genomic Regulation (CRG). It was co-founded by Professor Ben Lehner, who leads Generative Genomics at the Wellcome Sanger Institute. He is a recognised researcher in predictive biology and genetics.

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