# Allay Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/allay-therapeutics

- Industry: Biotechnology
- Headquarters: San Jose, US
- Website: www.allaytx.com
- Total disclosed funding: $143M
- Latest round: Series D (Jan 24, 2025)
- Investors on record: 13

## About

Based in the US, Allay Therapeutics, Inc. specializes in innovative pain management solutions, focusing on localized treatments that provide extended relief for patients recovering from surgery or managing chronic pain conditions.Allay Therapeutics, Inc. was founded in 2017 and is headquartered in San Jose, US. The company focuses on developing advanced pain management technologies. As of June 2025, they successfully raised USD 57.5 mn in Series D funding, co-led by Lightstone Ventures and ClavystBio, along with significant participation from other investors. Adam Gridley serves as the CEO of the company, which has completed a total of 5 funding deals to date.Allay Therapeutics specializes in advanced pain management solutions that emphasize localized treatment, providing prolonged relief for patients recovering from surgery or dealing with chronic pain. Their core technology aims to deliver targeted pain management over weeks, addressing significant challenges associated with pain relief methods. Their products are designed primarily for healthcare providers, including hospitals and outpatient clinics, and are marketed across North America and select European markets.Allay Therapeutics generates revenue through a B2B model, collaborating with healthcare institutions and distributors to deliver their pain management technologies. These transactions typically consist of direct sales agreements, ensuring that healthcare facilities can purchase their technology for effective patient care. The pricing plans are strategically tailored to meet the needs of institutional buyers, enabling access to quality pain relief solutions while establishing partnerships within the healthcare sector.In June 2025, Allay Therapeutics raised USD 57.5 mn in Series D funding to accelerate its Phase II experimental treatment study. The company plans to utilize this funding to enhance its research and development efforts, as well as to expand into new markets, with a focus on increasing its presence in Europe and Asia. Further, Allay Therapeutics aims to launch new innovative products that improve pain management strategies, reflecting its commitment to advancing patient care.

## Funding rounds

- Series D, Jan 24, 2025, $45M — New Enterprise Associates, Arboretum Ventures, Brandon Capital Partners, SG Growth Capital, SGInnovate, Lightstone Ventures, Vertex Ventures HC, IPD Capital, Vertex Growth, ClavystBio
- Series C, Sep 9, 2021, $82M — New Enterprise Associates, Arboretum Ventures, Brandon Capital Partners, Temasek Holdings, W.T.T. Investment, Pavilion Capital, Vertex Ventures HC, Vertex Growth
- Series B, Jan 31, 2019, $16M — New Enterprise Associates, Brandon Capital Partners, Lightstone Ventures

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B, Series C, Series D
- Brandon Capital Partners (https://capitalatlas.ai/funds/brandon-capital-partners) — Series B, Series C, Series D
- Lightstone Ventures (https://capitalatlas.ai/funds/lightstone-ventures) — Series B, Series D
- Arboretum Ventures (https://capitalatlas.ai/funds/arboretum-ventures) — Series C, Series D
- Temasek Holdings — Series C
- W.T.T. Investment — Series C
- Pavilion Capital — Series C
- Vertex Ventures HC (https://capitalatlas.ai/funds/vertex-ventures-hc) — Series C, Series D
- Vertex Growth (https://capitalatlas.ai/funds/vertex-growth) — Series C, Series D
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series D
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Series D
- IPD Capital (https://capitalatlas.ai/funds/ipd-capital) — Series D
- ClavystBio (https://capitalatlas.ai/funds/clavystbio) — Series D