Thiel Capital-backed Alloy Therapeutics raises $42M

Biotechnology company Alloy Therapeutics has raised $42 million, with return investor Thiel Capital participating in the series D fundraising round.

Alloy is a biotech company that works to expedite drug discovery and democratize the drug innovation process. Following Alloy's series C funding round, the company expanded from antibody technology discovery into T-cell receptors, according to the Oct. 3 Alloy news release.

The company plans to use the proceeds from the latest round to fund pre-competitive drug discovery technologies and explore partnerships.

The funding round was led by 8VC and Mubadala Capital, with participation from Thiel Capital, Presight Capital and Founders Fund. 

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