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Singapore-based startup Allozymes raises $15 M paving way for new partnerships in pharma and life science industry

14 May 2024 | News

Enabling sustainable production of high-value ingredients, bioremediation, and biosecurity

Allozymes, a leading innovator in enzyme discovery and engineering, has announced the closing of a $15 million Series A funding round led by Seventure Partners of France and Xora Innovation of Singapore.

This significant investment underscores the growing recognition of Allozymes' transformative potential, accelerates its expansion into Europe, and forges strategic partnerships within the food and chemical industries while paving the way for new partnerships in the pharmaceutical and life science industry. Additionally, the funding will fuel the development of the industry's most comprehensive enzyme data library for future enzyme discovery endeavors.

The funds will be utilising Allozymes platform enzyme engineering to develop robust biosolutions for partners in the pharmaceutical and life science industry, enabling innovative products like sugar alternatives, sustainable production of high-value ingredients, bioremediation, and biosecurity.

New investors include NUS Technology Holdings and Thia Ventures, while SOSV, and Entrepreneur First, continued their investment in the company in this round of funding. NUS Technology Holding is the investment arm of the National University of Singapore where Allozymes' founders graduated with a PhD and the company's technology was seeded during Akbar Vahid's postdoctoral research.

Allozymes' core technology lies in its proprietary microfluidic platform, which boasts the industry's fastest enzyme screening capability, analyzing over 20 million variants per day. This translates to a 200x higher chance of success in developing custom enzymes with precise properties for specific industrial applications.

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