Cambridge biotech Alchemab Therapeutics has extended its Series A round with a £25 million ($34 million) investment from the British Business Bank, which the company says is the state-owned lender’s largest backing of a life sciences company to date.
The money will help the clinical-stage firm build its drug pipeline and expand a proprietary antibody dataset that already sits among the largest of its kind, in a field where AI-driven antibody discovery has drawn growing investor interest.
Alchemab said the funding will let it grow that database from 500 million to more than a billion antibody sequences, and advance further clinical candidates into development. According to the company, the additional capital brings its total Series A to date to £109 million.
Founded in 2019, Alchemab hunts for what it calls autoprotective antibodies, the naturally occurring molecules found in people who show unusual resistance to hard-to-treat diseases.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Its Resiliome platform integrates that antibody database with what the company describes as advanced AI and laboratory validation, in order to identify and characterise the antibodies that protect them.
