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§ Private Profile · Suite 500, 825 Industrial Road, San Carlos, California, 94070
Clinical-stage biotech developing immunomodulatory antibody therapeutics for allergic, inflammatory, and proliferative diseases.
Allakos is a clinical-stage biotechnology company based in San Carlos, California, that develops novel antibody therapeutics targeting immunomodulatory receptors on immune cells to treat severe allergic, inflammatory, and proliferative diseases. Prior to its acquisition, the pre-revenue biopharmaceutical firm operated with up to 131 employees before executing a 71 percent workforce reduction in early 2024 following clinical trial setbacks for its lead drug candidate, lirentelimab. The enterprise initially secured approximately $142 million across Series A and Series B venture capital funding rounds from prominent early backers including Alta Partners and New Enterprise Associates. After raising $128 million through a July 2018 initial public offering on the Nasdaq exchange, the business shifted its research focus toward its AK006 therapeutic candidate and was ultimately acquired by Concentra Biosciences in 2025. Allakos was founded in 2012 by Christopher Bebbington and Nenad Tomasevic.
Allakos has raised $167.0M across 4 funding rounds.
Allakos has raised $167.0M in total across 4 funding rounds.
Allakos has raised $167.0M across 4 funding rounds. Most recently, it raised $100.0M Series B in December 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2017 | $100M Series B | NEW Enterprise Associates | InterWest, Paul Walker, Novo Ventures, Rivervest, Roche Venture Fund, SR ONE, 3X5 Partners, Alta Partners, Lifesci Venture Partners, Partner Fund Management, Redmile Group, RiverVest Venture Partners, Roche, Rock Springs Capital, Samsara BioCapital | Announced |
| Sep 1, 2014 | $10M Series A | — | InterWest, Paul Walker, Novo Ventures, Rivervest, Roche Venture Fund, SR ONE, Alta Partners, RiverVest Venture Partners, Roche | Announced |
| Aug 1, 2014 | $25M Series A | — | InterWest, Paul Walker, Novo Ventures, Rivervest, Roche Venture Fund, SR ONE | Announced |
| Dec 17, 2012 | $32M Series A | Peter Moldt | Robert Alexander, John Mckearn, Roche | Announced |
Allakos Inc. (NASDAQ: ALLK) is a clinical-stage biopharmaceutical company developing therapeutic antibodies that target immunomodulatory receptors on immune effector cells to treat allergic, inflammatory, and proliferative diseases.[1][2][3] Its lead candidate, AK006, a monoclonal antibody targeting Siglec-6 on mast cells, entered Phase 1 trials in 2023 for atopic dermatitis and chronic spontaneous urticaria (CSU), aiming to inhibit mast cell activation more broadly than prior therapies, though development was discontinued after topline results showed no therapeutic activity in CSU.[1][3][4] Allakos serves patients with unmet needs in allergy and inflammation, solving problems like overactive T-helper type 2 immune responses through first-in-class antibodies, but lacks approved products and relies on R&D funding, with estimated revenue of $25-50M and a workforce reduction to ~15 employees following restructuring.[2][3]
Founded in 2012 and headquartered in San Carlos, California, Allakos emerged from research into Siglec receptors—immunomodulatory proteins on immune cells implicated in allergic diseases.[1][3][4] Key founders and leadership, including current CEO Dr. Robert D. Alexander, Ph.D., built on scientific insights into pathways like Siglec-8 and Siglec-6, initially advancing candidates such as lirentelimab (AK002) and antolimab (AK001) into late-stage trials.[1][4][5] Early traction came via $150M raised over five rounds, culminating in a $150M round in September 2022, and a 2018 IPO, but pivotal setbacks included Phase 3 disappointments for earlier assets and the recent AK006 halt, prompting a 75% workforce cut and strategic review.[2][3][5]
Allakos rides the wave of precision immunology in biotech, targeting mast cell and eosinophil dysregulation in a $100B+ allergy/inflammation market driven by rising chronic conditions like CSU and atopic dermatitis.[1][4] Timing aligns with advances in antibody engineering and Siglec biology, post-failures of broad therapies like omalizumab, amid market forces favoring mast cell inhibitors amid post-COVID inflammatory disease surges.[1][5] Though setbacks highlight biotech risks, Allakos influences the ecosystem by validating Siglec pathways—pioneering Phase 3 data on Siglec-8 spurred competitors—and its IP/portfolio could fuel M&A, bolstering San Francisco Bay Area's clinical-stage biotech hub.[3][4]
Facing AK006 discontinuation and workforce cuts, Allakos is exploring strategic alternatives like asset sales, partnerships, or acquisition, leveraging its Siglec expertise and remaining preclinical candidates (e.g., AK007 targeting Siglec-10).[3][4] Trends in mast cell biology and combo immunotherapies could revive value if lirentelimab (AK002) data in atopic dermatitis gains traction or IP attracts buyers from firms like Sanofi or Regeneron.[1][5] Influence may evolve from independent developer to ecosystem enabler via tech transfer, tying back to its mission: despite hurdles, Allakos humanizes biotech's high-stakes quest for allergy breakthroughs.[1][3]
Allakos has raised $167.0M in total across 4 funding rounds.
Allakos's investors include New Enterprise Associates, InterWest, Paul Walker, Novo Ventures, RiverVest, Roche Venture Fund, SR One, 3x5 Partners, Alta Partners, LifeSci Venture Partners, Partner Fund Management, Redmile Group.