Cross-border pain play Allay refuels for next trial: BioCentury’s weekly Finance Report

This week’s handful of venture fundings included a series D round for a Singapore-California pain company on the cusp of Phase III testing and a series A for an Israeli start-up with a potential first-in-class asset for rare skin diseases. Meanwhile, follow-on activity in the public markets continued to pick up after a long slowdown.

Allay Therapeutics Inc. drew a fresh round of venture money this week from investors in Singapore and the West alike. The cross-border company’s $57.5 million series D round aims to fund the next trial for ATX101, an implant that promises durable, opioid-free pain relief following surgery...