ALLOX closes $10.5m seed round for AI-assisted drug discovery
Sabadell Asabys II leads the financing as the Barcelona biotech expands its experimental platform and small-molecule pipeline.
ALLOX closed a $10.5 million seed round announced on 29 October 2026. Asabys invested through Sabadell Asabys II, with participation from CDTI through SICC Innvierte and Institut Català de Finances.
The Barcelona biotechnology company uses high-throughput genetics and experimental biology to measure how mutations affect protein behaviour. Combined with AI, those datasets help identify regulatory sites that small molecules could target, including on protein-protein interactions and transcription factors that have been difficult to address with conventional methods.
The proceeds will expand the platform, develop proprietary AI models and strengthen the internal drug discovery team. ALLOX plans to advance its own small-molecule programmes and establish research collaborations with pharmaceutical and biotechnology partners. It also appointed Orbis Medicines co-founder and Chief Business Officer Morten Graugaard as independent chair.
Use of funds
Expand experimental platform and proprietary AI models
Advance small-molecule pipeline and research collaborations