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Allyx Therapeutics

Oral drug to protect synapses in Alzheimer's

Raised to date

$29.8M

of $34M offered across 2 Form D filings

Still open
$4.2M
Investors
12
Last filed
May 11, 2026

About

Allyx Therapeutics is a clinical-stage biotechnology company developing disease-modifying oral therapies for neurodegenerative disorders. Its primary focus is on preserving and protecting synapses to slow or reverse the cognitive decline seen in conditions like Alzheimer's and Parkinson's disease. The company's strategy revolves around its lead compound, which targets the underlying cellular pathology of these diseases rather than just managing symptoms.

The company's lead compound, ALX-001, utilizes a novel mechanism as a silent allosteric modulator of the mGluR5 receptor. This approach allows it to selectively block pathogenic signaling linked to synapse loss while preserving the normal receptor function essential for cognition, potentially offering a wider therapeutic window and fewer side effects than other modulators.

Funding

$30M, first sold May 2026$26.4M sold$3.6M still openFeb 2026MayAug
Now
  • EquityFiled May 11, 2026Form D
    $26.4M/ $30M
  • Option to acquireFiled Mar 3, 2026Form D
    $3.3M/ $4M

Product

ALX-001

Neurodegenerative Disease Therapy

ALX-001 is a first-in-class, orally bioavailable small molecule being developed as a disease-modifying treatment for neurodegenerative diseases. It functions as a silent allosteric modulator of the metabotropic glutamate receptor 5 (mGluR5). Its multi-targeted mechanism works by inhibiting amyloid beta oligomer toxicity, reducing tau hyperphosphorylation, and preventing microglial-mediated synaptic pruning, addressing key drivers of cognitive decline. The molecule was originally identified by Bristol Myers Squibb, and its potential for neurodegenerative conditions was discovered at Yale School of Medicine.

  • Orally bioavailable small molecule
  • Silent allosteric modulator of mGluR5
  • Selectively blocks pathogenic receptor activation

Built for

The primary target customers are individuals diagnosed with neurodegenerative disorders, specifically Alzheimer's disease and Parkinson's disease.

People on file