After raising $62M, New Haven biotech Allyx Therapeutics advances experimental Alzheimer’s drug
Summary
Allyx Therapeutics has raised capital and is now preparing to start a Phase 2 clinical trial for its experimental Alzheimer’s pill, ALX-001. The New Haven biotech has operated with a very small team and relied on grants, consultants, and contract research organizations to move the program forward. The company’s approach differs from amyloid-targeting therapies because it focuses on neuronal and synapse protection. If the study succeeds, Allyx may seek a pharma partnership, an IPO, or other strategic funding to support larger late-stage trials.
Funding
Amount
$26.5M
Total raised
Date
May 1, 2026
Announcement date
Investors
The Michael J. Fox Foundation, Canaan Partners, Alzheimer's Association, National Institutes of Health, Bristol-Myers Squibb Foundation
Lead investors
Company
https://allyxthera.com
Funded company
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