Allozymes, with its revolutionary approach to rapidly testing millions of bio-based chemical reactions, is not only revolutionizing the industry but also cultivating a treasure trove of invaluable data. As the company secures a $15 million series A funding round, it is poised to transition from a pioneering service provider to a globally recognized resource.
From humble beginnings in 2021, CEO and founder Peyman Salehian reminisces about Allozymes’ early days when it operated with a small team in a modest thousand-square-foot lab. Fast forward to today, and Allozymes boasts a workforce of 32 spread across the U.S., Europe, and Singapore, with lab space expanded fifteenfold.
At the heart of Allozymes’ success lies its groundbreaking technology, which remains unchanged since its inception. Enzymes, crucial biological agents, have historically posed challenges in discovery and invention due to the sheer complexity of their variations. Allozymes’ innovative method, employing microfluidics to test millions of enzyme variants per day, has shattered previous limitations.
Think of it as a conveyor belt scrutinizing each variant, akin to a camera sorting items into distinct categories.
This breakthrough technology has already garnered significant interest across industries. Examples include the production of phytoene, a tomato-derived enzyme, with a staggering 99% reduction in water usage; the creation of bio-identical bisabolol from the endangered candeia tree; and the transformation of plant fibers into soluble sweet fiber, a promising alternative to traditional sugars.
Looking ahead, Allozymes plans to expand its offerings beyond enzyme optimization services. SingZyme, the company’s existing service, will cater to clients seeking significant efficiency gains, while MultiZyme will offer a broader enzyme discovery and refinement platform.
This is simply transformative for biomanufacturing and Allozymes is building this global progress here in Singapore, supported by visionary investors and a strategic business ecosystem. And to cater to its growing global opportunities across industries, Allozymes is developing an agile, customer-driven service and product offers:
- SingZyme is their fee-for-service model for single enzyme screening and engineering;
- MultiZyme names the licensing or direct sales of specialty natural compounds produced through cell-free or cell-based methods via multiple enzyme engineering and strain engineering;
- SmartZyme dubbed the “Google of enzymes” is a SaaS model for fast and targeted novel enzyme discovery.
Investors have taken notice of Allozymes’ potential, with a $15 million series A round led by Seventure Partners, NUS Technology Holdings, Thia Ventures, and ID Capital. Notable repeat investors include Xora Innovation, SOSV, Entrepreneur First, and Transpose Platform.
As Allozymes charts its course, Salehian emphasizes the company’s readiness to realize its vision, including plans for expansion into pharmaceuticals and establishing a U.S. presence. With ample resources and a clear roadmap, Allozymes stands poised to redefine the future of biotech.