About Allyx Therapeutics
Allyx develops oral medicines for people with Alzheimer’s disease and other brain disorders. These medicines aim to protect synapses, the tiny connections that let brain cells communicate and support thinking. The company is also studying the approach in Parkinson’s disease.
Founded in 2019, Allyx is based in New Haven, Connecticut. Stephen Bloch is chief executive officer and co-founder. Tim Siegert is chief operating officer and co-founder.
Funding Rounds (SEC Form D)
| First sale | Filed with SEC | Amount sold | Investors | Avg. check | Terms | Filing |
|---|---|---|---|---|---|---|
| May 4, 2026 | May 11, 2026amended Oct 21, 2026 | $27,927,729of $29.9M target | 33 | $846K | Equity, Options, Securities on exerciseRule 506(b) | Form D/A ↗1 earlier filing |
| Feb 23, 2026 | Mar 3, 2026 | $3,324,918of $4.0M target | 12 | $277K | Options, Simple Agreements for Future Equity (SAFEs)Rule 506(b) | Form D ↗ |
| Feb 3, 2023 | Feb 10, 2023 | $2,308,569fully sold | 11 | $209K | EquityRule 506(b) | Form D ↗ |
| May 26, 2021 | Jun 2, 2021 | $7,581,493of $8.0M target | 10 | $758K | EquityRule 506(b) | Form D ↗ |
| Total, four offerings | $41,142,709 | |||||
First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.
Why Investors Backed Allyx Therapeutics
Allyx is taking a synapse-first approach to Alzheimer’s and related diseases. The program has moved from animal research into studies in healthy volunteers and patients. Its appeal rests on mGluR5 biology and early clinical findings. Clinical timing, approvals, financing and competition remain material risks.
The problem it targets
In January 2021, Yale Ventures said Alzheimer’s affected more than 5.6 million Americans and had no disease-modifying therapy. Synapses let neurons exchange signals and make cognition possible, and synapse loss drives progression. Earlier approaches aimed at removing amyloid-beta plaques or tau protein had not shown efficacy. Allyx’s thesis is that protecting these connections may address disease biology beyond plaque and tangle buildup.
What the product does
ALX-001 is an oral small molecule that modulates mGluR5, a brain receptor being studied to protect vulnerable neurons. In Alzheimer’s animal models, Stephen Strittmatter’s research found that an mGluR5 modulator reversed disease course. The candidate has selectivity and brain penetration. Brain-imaging tools can measure exposure in people and track whether treatment preserves or reverses synapse loss.
Progress so far
Allyx completed a 28-day safety study in Alzheimer’s patients and a drug-interaction study for ALX-001. Earlier Phase 1a work found the drug safe and tolerable at tested doses and showed full brain-target engagement in healthy older adults. Phase 1b data supported moving into patient studies, with two oral doses selected. The company then treated its first Alzheimer’s and Parkinson’s participants. A $3.3 million NIH grant supports metabolism studies, while an Alzheimer’s Association program awarded $1.1 million. Hartford Business Journal reported in June 2026 that Allyx had raised $62 million.
Who backs it
NIA’s Small Business Showcase says Allyx raised $7.6 million in Series A funding. Bristol Myers Squibb, Elm Street Ventures and Spring Mountain Capital led the round. Separately, Bristol Myers Squibb licensed the compounds behind ALX-001. Yale provided a sublicense for certain rights, connecting the program to research led by Yale professor and Allyx co-founder Stephen Strittmatter.
We wrote this summary from public statements by Allyx Therapeutics and its investors. It is not investment advice.
Allyx Therapeutics in the News
Leadership Team
Executive officers and directors listed on Allyx Therapeutics's Form D filed Oct 21, 2026.
Earlier filings also listed Jennifer Gabler (executive officer, last listed Mar 2026).
Sources
- SECAllyx Therapeutics, Inc. Form D, filed May 11, 2026
- SECAllyx Therapeutics, Inc. filing history
- CompanyAllyx Therapeutics team
- CompanyAllyx Therapeutics contact
- CompanyAllyx Therapeutics news and publications
- PressAllyx Therapeutics license announcement
- ResearchNIA Small Business Showcase: Allyx Therapeutics, Inc.