Alloy Therapeutics Announces Platform License Agreement with Lilly
Lyra lays off 87 employees: The Watertown, MA-based biotech will let go of 75% of its workforce, stop manufacturing and commercialization activities and seek to sublease its facilities. It will also evaluate potential strategic options, the company said, following a Phase 3 fail in chronic rhinosinusitis earlier this month. The company had $87 million in cash, equivalents and short-term investments at the end of March. It expects to have runway into 2026. — Kyle LaHucik
CAMBRIDGE, Mass., May 1, 2024 /PRNewswire/ -- Mission BioCapital (MBC), in partnership with founding sponsors Eli Lilly and Company (Lilly) and Ono Venture Investment (OVI) and our newest sponsor, Alloy Therapeutics, announced today that applications are open internationally for the 2024 Platinum Program. MBC's Platinum Program aims to advance high-potential life sciences start-up companies through funding, global laboratory space, expert mentorship, and discovery services to accelerate their launch and initial development. Early-stage biotechnology innovators from around the globe are invited to apply. Applications will be open through the middle of July, and winners will be announced in Fall 2024.
Alloy Therapeutics Announces Scientific Advisory Board to Drive Roadmap of Biotherapeutic Discovery Platform Innovation
BOSTON--(BUSINESS WIRE)--Alloy Therapeutics, a biotechnology ecosystem company, announced expanded leadership to strengthen its portfolio of drug discovery capabilities and technologies for the global scientific community. Michael Schmidt, PhD has joined the company as its Chief Scientific Officer (CSO), where he will oversee technical innovation and ensure high scientific quality for Alloy’s broad portfolio of platforms, services, and venture studio company creation. Alloy has promoted Martin Leach, PhD, MBA to Chief Operating Officer (COO), from his previous position of Alloy Senior Vice President of Global Informatics and COO of its Daedamab research facility.
BOSTON--(BUSINESS WIRE)--Alloy Therapeutics, a biotechnology ecosystem company, announced it is collaborating with Lundbeck, a global pharmaceutical company specializing in brain diseases, in the discovery of novel biologics therapies.
Alloy Therapeutics Unveils 2023 Innovation Roadmap Across Antibodies, TCRs, Bispecifics, and Genetic Medicines
Alloy Therapeutics and Normunity Sign Multi-Program Antibody Discovery Collaboration in Immuno-Oncology
BOSTON--(BUSINESS WIRE)--Alloy Therapeutics, a biotechnology ecosystem company, has closed $42 million in Series D financing led by its existing investors 8VC and Mubadala Capital and joined by return investors Thiel Capital, Presight Capital, Founders Fund, and other unnamed family offices and sovereign wealth funds. Alloy will use proceeds from the Series D financing to further support the drug discovery community with new pre-competitive drug discovery technologies in new biologic modalities and new partnership models designed to fuel innovation.
BOSTON--(BUSINESS WIRE)--Alloy Therapeutics, a biotechnology ecosystem company, welcomes Trier Bryant as President of 82VS, Alloy’s affiliated venture studio. Trier is a strategic executive leader with distinctive tech, Wall Street, and military experience spanning 15 years, and brings a people-first approach to leading and scaling the 82VS team and ecosystem of startup companies.