The funding round was led by 8VC, Presight Capital, and Peter Thiel, with participation from new investors as well as existing investors Luma Bio-IT, Alexandria Venture Investments, and Ulysses Diversified Holdings.

Alloy Therapeutics democratizes access to tools, technologies, and services related to therapeutic biologics, the company said. The funding will extend Alloy's platforms and services into adjacent biologic modalities and expand Alloy's access to more partners and geographies around the world.

Related to the series C financing, Fabian Hansen of Presight Capital will join Alloy's board of directors. In addition, Alaa Halawa of Mubadala Capital's U.S. Ventures business will join as a board observer.

Since 2017, Alloy has partnered with more than 70 organizations on its ATX-Gx platform for human antibody discovery and formed multiple new biotechnology companies, including Broadwing Bio.