history
Seattle based Allozyne, Inc. was founded to commercialize proprietary technologies developed at CalTech in the laboratories of Dr. David Tirrell and Dr. William Goddard. These technologies enable improvements in the efficacy, safety, dosing, and other characteristics of protein-based therapeutics, including peptides, antibodies and vaccines. The Company completed its Series A financing in October 2005 in a round led by MPM Capital.
After completing its Series A round, the Company was able to achieve the following critical milestones with its first product opportunity, a long acting Interferon beta product for the treatment of relapse and remitting multiple sclerosis.
Achievements to date include
- The development of an efficient manufacturing process of a proprietary interferon beta (IFN beta), which has been modified to contain an amino acid analogues at a specific site within the protein;
- Successful PEGylation of this modified IFN beta; and
- Demonstration that PEGylated IFN beta has superior pharmacokinetics and efficacy in animal models compared to currently available IFN beta.
Based upon the successful achievement of these milestones, a Series B financing was completed in October 2007.This financing was also led by MPM Capital and included the same syndicate that invested in the Company’s Series A financing including OVP Venture Partners, Arch Venture Partners, Amgen Ventures and Alexandria Real Estate.