Allay Therapeutics closes $57.5 million financing

5 June 2025

San Jose, USA-based biotech Allay Therapeutics today announced the completion of a $57.5 million Series D financing round with leading global investors.

The financing was co-led by Lightstone Ventures and ClavystBio, with participation by existing investors NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures Healthcare, and Brandon Capital. New investors joining the round were IPD Capital, EDBI and SGInnovate, and HSBC Innovation Banking also provided additional venture debt financing to the company.

Allay, which is pioneering ultra-sustained analgesic products to transform post-surgical pain management and recuperation, also announced that Joe Zakrzewski, an experienced pharmaceutical executive, has been appointed Chairman of the Board of Directors, and Anselm Tan of ClavystBio will also join Allay’s board, associated with the financing.

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