Alloy Therapeutics raised $40 million in a late-stage Series E to expand its tech-enabled biotech infrastructure business. The company said the funds will support scaling its discovery engine, extending work into preclinical and clinical development, and building a data and AI layer that connects platform components. Investors in the round include 8VC, JIC Venture Growth Investments, and Echo Capital, with returning backers such as Mubadala Capital, Presight Capital, and Thiel Capital. Alloy also emphasized that it does not operate a traditional internal drug pipeline, instead partnering with more than 200 collaborators across antibody, bispecific, and cell-therapy modalities. The funding round matters for industry players evaluating how services-and-platform models compete for capital and talent as biotech funding tightens. Alloy’s focus on AI/data infrastructure and partner execution positions it as a platform that can be deployed across multiple therapeutic programs rather than betting on a single asset.