Allay Therapeutics, a San Jose, CA-based clinical-stage biotechnology company providing ultra-sustained analgesic products for post-surgical pain management and recuperation, raised $57.5M in Series D financing.
Lightstone Ventures and ClavystBio co-led the round with participation from existing investors NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures Healthcare, and Brandon Capital. New investors joining the round were IPD Capital, EDBI and SGInnovate. Also, HSBC Innovation Banking also provided additional venture debt financing.
The company intends to use the funds to supports its Phase 2b registration trial evaluating ATX101 for the treatment of post-surgical pain following total knee replacement (TKA) surgery and advances its ultra-sustained platform of products for other unmet needs after painful surgeries.
Allay Therapeutics provides ultra-sustained analgesic products to support post-surgical pain management and recuperation for patients and physicians. Its proprietary technology platform combines validated non-opioid analgesics and biopolymers to create dissolvable candidates to deliver pain relief within a targeted site over weeks: an order of magnitude greater than the longest-lasting pain treatments currently available.
Allay also announced that Joe Zakrzewski, an experienced pharmaceutical executive, has been appointed Chairman of the Board of Directors, and Anselm Tan of ClavystBio will also join Allay’s board, associated with the financing.
FinSMEs
05/06/2025