# Allay Therapeutics

> Allay Therapeutics develops dissolvable, drug-releasing implants intended to provide local, non-opioid pain relief for weeks after surgery. Its lead investigational product, ATX101, combines bupivacaine with a biopolymer and is being studied after total knee replacement. The company was created by The Foundry and Lightstone Ventures’ Singapore fund and operates in San Jose and Singapore.

- **Founded:** 2017
- **Headquarters:** San Jose, United States
- **Founders:** The Foundry (venture incubator co-founder), Lightstone Ventures Singapore Fund (venture co-founder)
- **Products:** ATX101, ATX201, ATX301, ATX401, ATX501
- **Notable:** 2018 acquisition of polymer innovator Orchid Medical., 2021 Phase 1b/2a open-label study reported two weeks of pain relief after one administration., 2024 FDA Breakthrough Therapy designation for ATX101 after an exploratory Phase 2 trial; designation is not approval.

## Products & services

- **ATX101** — Investigational, dissolvable bupivacaine-biopolymer implant placed at the knee surgical site; developed for pain after total knee replacement.
- **ATX201** — Pipeline program for new formulations.
- **ATX301** — Pipeline program for injectable formulations.
- **ATX401** — Pipeline program for a new clinical indication.
- **ATX501** — Pipeline concept for on-demand anesthetic delivery.

## Achievements

- 2018 acquisition of polymer innovator Orchid Medical.
- 2021 Phase 1b/2a open-label study reported two weeks of pain relief after one administration.
- 2024 FDA Breakthrough Therapy designation for ATX101 after an exploratory Phase 2 trial; designation is not approval.
- 2025 first patients dosed in a 200-participant U.S. Phase 2b registration trial.
- 2025 $57.5 million Series D financing and expanded Asian license with Maruishi.

## Latest updates

- **2025-06** — Announced a $57.5 million Series D, additional venture debt, a new board chair and the extension of Maruishi’s license to South Korea and Taiwan.
- **2025-02** — Reported first patients dosed in a U.S. 200-participant Phase 2b registration trial of ATX101 after knee replacement.
- **2024-12** — Announced FDA Breakthrough Therapy designation for ATX101 based on exploratory Phase 2 data.

## Links

- Website: https://www.allaytx.com/
- LinkedIn: https://www.linkedin.com/company/allaytx/
- Twitter/X: https://twitter.com/allaytx

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Profile page: https://yespress.io/allay-therapeutics
Published by YesPress — https://yespress.io
Last updated: 2026-09-29