Alchemab Therapeutics Announces Largest Ever Life Sciences Investment From British Business Bank to Advance AI-Enabled Clinical Pipeline of Next Generation Human-Derived Antibodies
Clinical-stage biotech Alchemab Therapeutics has extended its series A financing with a £25 million (USD $34 million) investment from the British Business Bank – the Bank’s largest investment in a life sciences company to date. The funding will enable the company to build its clinical pipeline and grow its unique proprietary antibody dataset to more than a billion sequences.
Alchemab is discovering and developing first-in-class drugs through its Resiliome™ platform, which uses complex AI derived algorithms to identify naturally occurring antibodies present in humans with unusual resilience to a range of hard-to-treat diseases.
This investment builds on the success of the company’s first asset, ATLX-1282 – a first-in-class antibody therapeutic in clinical development for amyotrophic lateral sclerosis (ALS) which was licensed to Eli Lilly and has provided robust validation of the potential of the Resiliome approach.
The additional funding brings Alchemab’s total Series A investment to date to £109 million. It will enable the company to enhance its antibody database from 500 million to a billion antibody sequences and advance additional candidates into clinical development.
