UK-based Alchemab Therapeutics has announced a GBP 25 million (USD 34 million) extension to its Series A financing, with the capital provided solely by the British Business Bank through its commercial subsidiary British Patient Capital — the largest single life sciences investment the government-backed institution has made to date. The funding will be used to expand the company's proprietary antibody database and advance additional pipeline candidates toward the clinic.
The GBP 25 million tranche was provided directly by British Patient Capital, with no placement agents or underwriters disclosed. The investment brings Alchemab's cumulative Series A to GBP 109 million. Existing investors in the broader syndicate include SV Health Investors, the Dementia Discovery Fund, RA Capital, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment, and Camford Partners, though none are identified as contributors to this specific extension.
Alchemab's Resiliome platform identifies naturally occurring antibodies from individuals who are unusually resilient to diseases — for example, carriers of mutations associated with frontotemporal dementia who remain cognitively healthy into old age — and uses AI-driven algorithms to characterize and develop those antibodies into therapeutics. The company said the new capital will expand its human-derived antibodies database from approximately 500 million to more than one billion sequences, and will fund the advancement of additional candidates into clinical development, including ATLX-2847, a wholly owned program targeting muscle atrophy via the prostaglandin pathway.
The lead asset, ATLX-1282, is a first-in-class antibody targeting a novel, undisclosed receptor implicated in neuroprotection across ALS and frontotemporal dementia. Following a USD 415 million licensing agreement with Eli Lilly announced in May 2025, Alchemab initiated a Phase I first-in-human study of ATLX-1282 in September 2025. Under that arrangement, Alchemab retains responsibility for the Phase I study, after which Lilly assumes full development and commercialization control. Lilly also participated as a strategic investor in the September 2025 financing extension alongside Ono Venture Investment and existing backers.