The British Business Bank has finalised a £25 million investment in Alchemab Therapeutics as part of the company’s Series A extension round. The transaction represents the largest direct capital injection the bank has ever made into a life sciences business. It highlights an institutional drive to secure longer-term funding options for the domestic biotechnology market. The state-backed institution is already a dominant late-stage investor in UK life sciences, having deployed £238 million across 22 different firms.
This latest cash injection pushes Alchemab’s total Series A funding to £109 million. The specialist biotech firm previously secured capital from a roster of major industry backers, including SV Health Investors, RA Capital, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment and Camford Partners.
Founded in 2019, Alchemab operates as a clinical-stage biotechnology firm. The company isolates natural protective antibodies from patients who display unusual resilience to specific conditions to develop fresh treatments. Its proprietary Resiliome platform features more than half a billion antibody sequences, making it the largest single-source proprietary antibody database in existence. Alchemab uses deep sequencing, machine learning models and laboratory validations to find new therapeutic pathways. Its leading asset, ATLX-1282, is an antibody treatment targeting amyotrophic lateral sclerosis that has been licensed to Eli Lilly. The candidate moved from initial target identification to human trials in less than three years.
Charlotte Lawrence, Managing Director of Direct Equity at British Business Bank said, “Alchemab sits at the cutting edge of UK scientific capability, integrating deep sequencing and lab-based validation to harness the body’s natural defences against disease. This landmark £25m investment demonstrates our commitment to providing the long-term capital necessary for the UK’s most innovative biotech firms to advance complex pipelines in the UK.”
Business Secretary Peter Kyle said, “Through our modern Industrial Strategy, we’re taking a bolder approach to backing the businesses of the future – investing larger sums in high-growth firms like Alchemab so they can stay, scale and succeed here in the UK. This investment shows how serious we are about championing our strengths, turning cutting-edge science into growth, and supporting the companies driving our future economy.”
Dr Carmine Circelli, Senior Investment Director, Life Sciences at British Business Bank said, “Alchemab is yet another example of the UK’s strength in leveraging technology in life sciences. By combining the world’s largest proprietary antibody datasets with advanced AI, the company has developed a powerful platform with the potential to unlock new treatments. Our investment will help convert promising results into high value medical discoveries.”
Jane Osbourn, CEO and Co-Founder of Alchemab said, “We are delighted that the British Business Bank has recognised the importance of enabling Alchemab to grow and thrive here in the UK. This investment will enable us to further accelerate our pipeline of first-in-class antibody therapeutics for conditions with significant unmet need.”
The newly secured funding will allow the firm to ramp up its research operations, expand its database and move two additional wholly owned drug programmes into clinical trials.
