Allozymes Expands Global Footprint, Establishes European Subsidiary to Fuel Bioeconomy Advancement

SINGAPORE, April 16, 2024 /PRNewswire/ -- Allozymes, a leading innovator in enzyme discovery and engineering for the food and chemical industries, is announcing the establishment of its European subsidiary in Toulouse, France. This strategic move marks a significant expansion of Allozymes' global footprint and underscores its commitment to accelerating biotech advancements across the continent. This includes Allozymes' biosolutions for the specialty chemical industry such as producing sustainable cosmetic ingredients and Allozymes' biosolutions for the food industry for upcycling certain agricultural waste into sugar alternatives.

"Europe is a powerhouse of innovation in the bioeconomy, and establishing a space here allows us to be closer to the heart of the action," says Peyman Salehian, CEO and co-founder of Allozymes. "This proximity will foster deeper relationships with European companies and researchers, enabling us to collaborate on groundbreaking projects. "We're also excited to welcome passionate individuals who share our vision for a greater tomorrow by combining our expertise with local talent."

The Toulouse subsidiary will house a state-of-the-art facility primarily be equipped for R&D and fermentation. Jean-Claude Dardelet, President of the Toulouse Métropole Development Agency and Vice-chairman of Toulouse Métropole said, "We are proud to have assisted Allozymes in establishing its presence in Toulouse. We are even prouder to have persuaded them to invest here. The tailored program we put together enabled them to meet some outstanding individuals and obtain the information that convinced their decision-makers and investors. There is no doubt that Allozymes' office in Toulouse will provide them with easier access to the innovative local environment in the field of industrial biotechnology, as well as to the European market, thanks to the partnerships fostered by the TWB (Toulouse White Biotechnology) consortium. Entities such as CRITT Bio-Industrie (a transfer structure for industrial biotechnologies and associated separation techniques) are also likely to support their industrial production processes in response to market needs."

Through this expansion, Allozymes aims to extend its enzyme platform, especially to the pharmaceutical industry. By discovering and engineering enzymes tailored for specific medical applications, Allozymes can revolutionize drug discovery and manufacturing such as mRNA medicine or biologics with minimal environmental impact, or customize enzymes that unlock novel treatment pathways for complex diseases.

The company's European subsidiary will also serve as a hub for collaboration and knowledge sharing, fostering a vibrant ecosystem of sustainability. "We believe that open collaboration is key to unlocking the full potential of the bioeconomy," says CTO and co-founder Akbar Vahidi. "We invite partners and researchers across Europe to join us in this exciting journey. Just as we've achieved major milestones at an accelerated pace in Singapore, we're confident of continuing that success in Europe."

Allozymes' expansion into Europe marks a significant step forward. The company's commitment to innovation, collaboration, and sustainability paves the way for a brighter future driven by the power of enzymes.

About Allozymes

Allozymes is a fast-growing biotechnology company that applies its proprietary ultra-high-throughput platform technology to rapidly develop novel enzymes and unlock the bioeconomy across sectors. Leveraging its platform technology, Allozymes aims to build the largest enzyme data library to address current and future needs of building robust biosolutions.

For more information, please visit Allozymes' website and also follow Allozymes on LinkedIn and X.

About the Toulouse Métropole Development Agency

The Toulouse Métropole Development Agency is a company created by Toulouse Métropole and the City of Toulouse with the aim of carrying out all policies or actions relating to promotion, territorial marketing, canvassing, and support to help develop the economic and tourist appeal of the Toulouse metropolitan area.

As part of the Development Agency, Invest In Toulouse supports French and international companies to facilitate and accelerate their establishment in the dynamic Toulouse region. The

Invest In Toulouse team offers a tailored tour of the existing ecosystem, identifying points of potential development, and assisting companies in setting up in the metropolis. This gives the company access to a cutting-edge economic ecosystem, enabling it to develop its project in the best possible way in Toulouse.    

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