Alloy Therapeutics raised $40 million in a late-stage Series E to expand its tech-enabled biotech infrastructure. The company said it will use the funding to strengthen its discovery engine, push more work into preclinical and clinical development, and build out the data and AI layer that connects its pipeline development services. Alloy framed the raise as acceleration rather than rescue, positioning its platform as capital-efficient and collaborative across partner programs. Investors included 8VC, JIC Venture Growth Investments, and Echo Capital, with participation from returning investors such as Mubadala Capital and Thiel Capital. The company also emphasized its business model—avoiding an outright “pharma acquisition” pitch because it operates as an infrastructure and platform provider rather than owning a large standalone drug pipeline. The funding underscores continued appetite for integrated techbio services that can shorten timelines for partners across modalities including antibodies, bispecifics, and cell therapies.