Allozyne was a clinical stage biotechnology company headquartered in Seattle's biotech and high tech innovation corridor. Allozyne was founded in 2005 by California Institute of Technology researchers, and was incubated by Accelerator Corporation. Its lead product candidate, AZ01, is a long acting interferon beta for the treatment of the relapsing remitting form of multiple sclerosis, a chronic degenerative disease characterized by demyelination of nerve fibers leading to severe nerve damage and increasing disability. Multiple sclerosis is estimated to affect 400,000 individuals in the US alone and 2.5 million worldwide. AZ01 is currently undergoing Phase I clinical trials in the US. Preclinical data indicates that AZ01 has the potential to be dosed once monthly compared to the current standard of care dosed anywhere from once daily to once per week.