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Alloy Wants Partners To Compete In Making Medicine, Not Technology Access

 
• By Joseph Haas

Alloy raises $75m in venture funding to further its mission of open-source antibody technology discovery. It also spins out portfolio companies, like ophthalmic-focused Broadwing.

Venture Capital Concept on the Mechanism of Metal Gears.
Alloy Therapeutics can expand its mission with a fresh infusion of $75m

Alloy Therapeutics, Inc. is taking an unusual route to drug discovery and development, as it works to make open-source antibody discovery technology and related services more widely available. The company, which unveiled a $75m series C financing on 2 April, operates with a philosophy that biopharmaceutical companies should compete to create the best medicines rather than vie over access to the best technologies.

Based in Boston, the privately held firm previously raised about $17.5m total in its series A and B financings, CEO Errik Anderson told Scrip. Now, it has the wherewithal to build on its ATX-Gx antibody discovery platform, which it says has been used by more than 70 private-sector and academic partners. AbCellera Biologics Inc

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