Alchemab Therapeutics, a biotech company developing novel products for patients with hard-to-treat diseases, has raised £60M in Series A funding. The deal is the largest European Series A round this year and in the top 10 for the largest Series A rounds in Europe.
An international investment syndicate supported the round, led by RA Capital Management, with participation from Lightstone Ventures and DHVC. Existing investors in the antibody therapeutics company, Data Collective VC Bio (DCVC Bio), Dementia Discovery Fund and SV Health investors also joined.
Alchemab applies extremely high-throughput antibody sequencing and deep-learning to well-defined patient cohorts to identify naturally occurring protective antibodies in people who are resilient to disease. Although the proprietary drug discovery platform is target-agnostic, this latest funding will be used to advance the company’s lead programmes in neurodegeneration and cancer.
The company’s success has been grounded on bringing together expertise from Oxford, Cambridge, London and the US. Dr Rachael Bashford-Rogers, a Group Leader in the Wellcome Trust Centre for Human Genetics at the University of Oxford, is one of the scientific founders, alongside Uri Laserson, Ben Larman and Ruth McKernan. Scientists at Alchemab have been valued members of the BioEscalator community for the past 18 months.
We are delighted to have secured this funding to further our target-agnostic, science-driven platform. The BioEscalator has been a key part of our journey from the start, providing us with the support and capabilities we needed to enable our growth.
Alex Leech, Alchemab CEO.
Alchemab Therapeutics is a biotech company developing novel products for patients with hard-to-treat diseases by harnessing the power of naturally protective antibodies. It is building a broad pipeline of protective therapeutics with an initial focus on oncology, neurodegenerative conditions and infectious diseases. The company’s novel approach interrogates individuals' entire antibody repertoires from well-defined groups who show unexpected resistance to disease despite genetic disposition or other risk factors predictive of a poor prognosis. Using insights gained, Alchemab can identify naturally protective antibodies with therapeutic potential.