Alchemab Therapeutics has successfully secured a £25 million extension to its Series A funding, bringing its total to £109 million, marking a significant milestone as the largest life sciences investment from the British Business Bank to date.
This new capital will facilitate the growth of Alchemab's clinical pipeline and expand its proprietary antibody database from 500 million to over one billion sequences. The company employs its AI-driven Resiliome™ platform to discover naturally occurring protective antibodies in individuals who exhibit resilience to challenging diseases, paving the way for innovative antibody therapies.
Alchemab's lead candidate, ATLX-1282, an antibody therapy aimed at treating amyotrophic lateral sclerosis (ALS), is currently in clinical development, having been licensed to Eli Lilly. This development serves as validation for Alchemab's AI-centric drug discovery approach.
The additional funding will expedite the progression of new antibody candidates into clinical trials and enhance the company's robust dataset, which underpins its AI-based discovery engine. This investment underscores the UK’s potential for fostering innovative biotech firms capable of addressing significant healthcare needs.