Alchemab lands £25m from British Business Bank in record life sciences bet
Cambridge biotech Alchemab Therapeutics has extended its Series A round with a £25 million ($34 million) investment from the British Business Bank, which the company says is the state-owned lender’s largest backing of a life sciences company to date.
The money will help the clinical-stage firm build its drug pipeline and expand a proprietary antibody dataset that already sits among the largest of its kind, in a field where AI-driven antibody discovery has drawn growing investor interest.
Alchemab said the funding will let it grow that database from 500 million to more than a billion antibody sequences, and advance further clinical candidates into development. According to the company, the additional capital brings its total Series A to date to £109 million.
Founded in 2019, Alchemab hunts for what it calls autoprotective antibodies, the naturally occurring molecules found in people who show unusual resistance to hard-to-treat diseases.
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