Alchemab Therapeutics

Cambridge-headquartered clinical-stage biotechnology company Alchemab Therapeutics has secured a £25 million ($34 million) Series A round extension from the British Business Bank, marking the state-owned lender's largest direct life sciences investment to date.

Summary of transaction details:

• Value: £25 million Series A extension (Elevating total Series A capitalization to £109 million).
• Sector: Healthcare & Biotech / DeepTech & AI / Biopharma.
• Advisor / Governance Updates: Operated via British Patient Capital. Board oversight is led by corporate Chair Dame Kate Bingham (Managing Partner at SV Health Investors).
• Key Entities: Target: Alchemab Therapeutics Limited; Investor: British Business Bank (British Patient Capital); Historical Backers: SV Health Investors, RA Capital, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment, Camford Partners; Key Executive: Dr. Jane Osbourn (CEO & Co-Founder).
• Location: Cambridge, UK.

Note: Founded in 2019, Alchemab Therapeutics reverses traditional drug discovery logic through its proprietary "Resiliome" platform. Rather than examining diseased cohorts to track down abnormalities, Alchemab maps the immune profiles of exceptionally resilient patient populations—such as individuals carrying definitive genetic markers for frontotemporal dementia (FTD) or Alzheimer's who remain completely asymptomatic into old age. Using state-of-the-art machine learning models paired with Nvidia's Cambridge supercomputing cluster, the software identifies naturally occurring, protective human-derived antibodies shared across these resilient groups. The platform achieved major commercial validation via a milestone $415 million global licensing and joint development agreement with Eli Lilly for its lead computational asset, ATLX-1282, which entered Phase 1 clinical testing for Amyotrophic Lateral Sclerosis (ALS) after moving from discovery to clinical validation in under three years. This record-breaking £25m government-backed injection will allow Alchemab to expand its internal clinical pipelines across oncology and neurodegeneration, scale team functions, and double its proprietary unique antibody database from 500 million to over one billion sequences.