Alchemab Therapeutics announced the launch of a first-in-human Phase I trial of ATLX-1282, a novel therapeutic antibody targeting amyotrophic lateral sclerosis (ALS) and other neurodegenerative conditions.

The candidate was licensed to Eli Lilly under an exclusive global agreement signed in May 2025. According to the company, the trial represents a key milestone in validating Alchemab’s AI-enabled antibody discovery platform, with the company leading early clinical work before Lilly advances the therapy through later-stage development and commercialization.

How is Alchemab Funding its Clinical and Pipeline Expansion?

In conjunction with this milestone, Alchemab secured a $32 million Series A financing extension, bringing total funds raised in the round to $114 million. The extension included new participation from Ono Venture Investment, continued support from a syndicate of specialist investors, and a strategic contribution from Lilly.¹

In April 2021, the company raised an initial $82 million in Series A financing.²

"As a founding investor in Alchemab, we are thrilled to close this financing and initiate clinical development, which together mark a very successful year for Alchemab and the Company's novel platform to identify protective auto-antibodies," said Kate Bingham, chair, Alchemab, managing partner, SV Health Investors, in a press release. "We're extremely pleased to welcome new investors who share our commitment to novel drug discovery and development approaches and are proud to support Alchemab's continued progress."

Licensing Agreement with Eli Lilly

Alchemab first announced its licensing agreement for ATLX-1282 with Lilly in May. Under the terms of the deal, Lilly will pay Alchemab up to $415 million, including an undisclosed upfront payment as well as discovery, development, commercialization, and potential royalty payments.

The company reports that ATLX-1282 was discovered using its AI-driven platform, which integrates computational and laboratory approaches to identify protective antibodies in individuals who remain healthy despite genetic risk for frontotemporal dementia.³

Platform and DataCube Repository

The company stated that its platform combines advanced machine learning with the extensive DataCube repository, which includes more than 6,000 curated patient samples across metabolic, immune, and neurological conditions.¹

Leadership Perspective on Clinical Milestone

"Reaching the key milestone of our first drug candidate into the clinic is great validation of Alchemab and our AI enabled next generation antibody platform,” said Jane Osbourn, co-founder, CEO, Alchemab, in the press release. “Through our collaboration with Lilly, we hope to get this, our first clinical candidate and a potentially transformative therapy, to as many patients as possible, as quickly as possible."

Alchemab and Lilly first announced their partnership in January to develop and commercialize up to five novel therapeutics. At the time, financial terms were not disclosed.⁴

The Promise for ALS Patients

"We have shown that our novel, differentiated antibody discovery platform can lead to insights into how an individual's immune response can generate potent, selective, and unique antibodies with therapeutic potential,” said Osbourn, in a January press release. “Guided by patients' biological response to disease, Alchemab's platform yields both novel targets and potential therapies in one process. ALS is a devastating disease and an area of significant unmet medical need. Our collaboration with Lilly enables us to apply our novel approach to a hugely important disease in partnership with one of the most respected names in pharma. We are looking forward to working together to discover and develop novel targets and therapies for ALS patients."

References

1. Alchemab Therapeutics initiates Phase 1 clinical trial of ATLX-1282 and announces Series A financing extension. PR Newswire. September 9, 2025. Accessed September 9, 2025. https://www.prnewswire.com/news-releases/alchemab-therapeutics-initiates-phase-1-clinical-trial-of-atlx-1282-and-announces-series-a-financing-extension-302549523.html
2. Alchemab raises £60 million ($82 million) in Series A financing to advance novel platform for identifying disease-modifying antibody therapeutics. Alchemab. April 15, 2021. Accessed September 9, 2025. https://www.alchemab.com/alchemab-raises-60-million-82-million-in-series-a-financing-to-advance-novel-platform-for-identifying-disease-modifying-antibody-therapeutics/
3. Lilly Bolsters ALS Pipeline Through $415 Million Licensing Agreement with Alchemab Therapeutics. PharmExec. May 6, 2025. Accessed September 9, 2025. https://www.pharmexec.com/view/lilly-bolsters-als-pipeline-415-million-licensing-agreement-alchemab-therapeutics
4. Alchemab Therapeutics enters into collaboration with Lilly to discover, research and develop novel therapies for ALS. PR Newswire. January 9, 2025. Accessed September 9, 2025. https://prnmedia.prnewswire.com/news-releases/alchemab-therapeutics-enters-into-collaboration-with-lilly-to-discover-research-and-develop-novel-therapies-for-als-302346216.html