Alchemab could net $415m from Eli Lilly deal
The haul comes through a licensing agreement for ATLX-1282, Alchemab's first-in-class IND-ready programme for amyotrophic lateral sclerosis (ALS) and other neurodegenerative conditions.
Alchemab uses the power of human immune evolution to identify and develop naturally occurring therapeutic antibodies from resilient individuals.
The transaction includes an undisclosed upfront payment, potential discovery, development, and commercialisation payments and royalties. Alchemab take the programme through early Phase 1 clinical trials after which Lilly will lead all further development and commercialisation.
Alchemab's platform uses state-of-the-art machine learning and AI to analyse the complexities of the human immune response and identify antibodies that are uniquely associated with resilience to untreatable diseases.
This is achieved using over 6,000 carefully selected and highly curated patient samples across neurodegeneration, immunology, oncology and healthy ageing. Weaving together lab-based protein science and biology with machine learning, human samples and proprietary data analysis, and leveraging Nvidia's supercomputer in Cambridge, Alchemab has sequenced and analysed millions of antibody sequences to unveil novel targets and antibodies with unique mechanisms of action.
Alchemab has identified an antibody in people with mutations that normally lead to frontotemporal dementia (FTD), but who remain well into old age. These samples were sourced from a collaboration with the Genetic Frontotemporal Initiative (GENFI) consortium, which has built the largest global cohort of FTD patients.
Starting from the antibody sequence, Alchemab was able to identify the target and has subsequently demonstrated its importance in neuroprotection, and across multiple neurodegenerative conditions including ALS and FTD.
CEO Jane Osbourn said: "As the first programme from our highly novel platform, this is a landmark transaction for Alchemab. With Lilly's deep expertise in neurological conditions, they are ideally placed to speedily advance ATLX-1282 through the clinic, and maximise the potential to help patients. We believe this innovative programme has enormous promise and look forward to working with Lilly to bring this to fruition.
"The announcement is also a tremendous endorsement for Alchemab's unique approach to drug discovery. Our revolutionary computational and wet lab-based workflow has enabled us to sift through millions of antibodies to identify this target. We think this is a powerful story demonstrating both the discovery of a novel antibody to treat neurogenerative diseases and the development of a unique platform which has great potential to provide innovative treatments across many disease settings.
“The transaction will support our work to progress our pipeline, which includes metabolic, immunology and oncology programmes, towards the clinic and we look forward to unveiling highly differentiated assets in these areas in due course."
The mega-deal builds on a separate discovery collaboration pact with Lilly revealed in January 2025 to discover, develop and commercialise up to five novel therapeutic candidates for ALS.
Alchemab was founded in 2019 with seed funding from SV Health Investors, DCVC Bio and the Dementia Discovery Fund and has raised more than $80 million to date from a blue-chip syndicate of specialist investors which also includes RA Capital, Lightstone Ventures and Camford Capital.
Jane Osbourn was formerly with MedImmune before AstraZeneca closed the brand and had explained the new approach to the healthcare conundrum when she was a judge at a Business Weekly Awards held shortly before the birth of Alchemab. AstraZeneca had acquired Cambridge Antibody Technology, a former Business Weekly Awards winner, and absorbed its technology into the MedImmune business.