Alchemab secures £25 million from the British Business Bank in a historic investment in life sciences.

      Cambridge-based biotech company Alchemab Therapeutics has augmented its Series A funding round with a £25 million ($34 million) investment from the British Business Bank, marking the lender’s largest support for a life sciences firm to date.

      The funds will enable the clinical-stage company to expand its drug pipeline and enhance its proprietary antibody dataset, which is already among the largest in the industry, particularly in an arena where AI-driven antibody discovery is attracting increasing investor focus.

      Alchemab indicated that this funding will allow it to scale its database from 500 million to over a billion antibody sequences and further advance its clinical candidates. With this additional investment, the total amount raised in its Series A round now stands at £109 million.

      Established in 2019, Alchemab seeks to identify what it terms autoprotective antibodies—naturally occurring molecules found in individuals who exhibit unusual resistance to difficult-to-treat diseases. Its Resiliome platform combines that antibody database with advanced AI and laboratory validation to pinpoint and characterize the protective antibodies.

      The company claims the platform utilizes AI-driven algorithms to discover naturally occurring antibodies in those who resist various challenging diseases, eventually leading to the development of first-in-class medications. Alchemab refers to its resultant database as the world's largest antibody collection derived from disease-resilient individuals.

      This strategy has already led to a key asset, ATLX-1282, which is characterized by Alchemab as a first-in-class antibody therapeutic for amyotrophic lateral sclerosis (ALS) and is currently in clinical development; it has been licensed to Eli Lilly, a partnership that Alchemab views as strong validation for its platform.

      Dr. Jane Osbourn, the company’s chief executive and co-founder, expressed her satisfaction that the British Business Bank acknowledges the significance of supporting Alchemab's growth in the UK. She noted that this investment represents “further validation of the sustainable, long-term potential” of the firm’s drug discovery platform, facilitating the acceleration of its therapeutic pipeline for conditions that require urgent attention.

      Dame Kate Bingham, managing partner at SV Health Investors and chair of Alchemab's board, framed the funding round as indicative of the UK’s capability to scale its biotech companies. She emphasized that the UK life sciences sector possesses the expertise, creativity, and commercial potential necessary to establish globally significant biotech firms, with Alchemab committed to being one of them.

      For the British Business Bank, this investment conveys a clear intent. Charlotte Lawrence, managing director of direct equity, labeled it a “landmark” commitment and highlighted Alchemab’s pioneering position at the forefront of the UK's scientific capabilities, merging deep sequencing with lab-based validation to leverage the body's natural defenses against diseases.

      Carmine Circelli, senior investment director for life sciences at the bank, stated that the company has combined “one of the world’s largest proprietary antibody datasets with advanced AI” to create a platform with the potential to unlock new therapeutic options. The bank noted that its investment would aid in translating promising results into valuable medical discoveries.

      The British Business Bank serves as the UK government’s economic development institution, founded in 2014 to facilitate financing for smaller companies in order to enable them to start, scale, and remain in the UK. Alchemab confirmed the investment is managed by British Patient Capital, a commercial subsidiary of the bank.

      Existing investors in Alchemab include SV Health Investors, its Dementia Discovery Fund, RA Capital Management, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment, and Camford Partners. The company claims to have established a diverse pipeline of first- and best-in-class assets targeting hard-to-treat diseases.

      This fundraising effort comes as investors consider the extent of AI's transformative potential in drug development and as British biotech firms seek both domestic and international investment. The broader UK landscape has seen substantial investments in local enterprises, with Alchemab aspiring to join this group.