Alchemab Therapeutics

Alchemab Therapeutics raised a £25m Series A extension from the British Business Bank on 9 July 2026, the Bank's largest-ever direct life-sciences investment. The cash pushes the company's lead programme, ATLX-1282, toward the clinic as it moves through Phase 1 trials.

Alchemab is headquartered in Kings Cross, London, with research labs in Cambridge. The company mines antibodies from people who resist diseases they should have caught, using machine learning to sift immune repertoires at a scale no bench scientist could manage, then turns the protective molecules into drug candidates.

The round places Alchemab in the same AI-meets-biology tier as IMU Biosciences, which raised £40m in June 2026. It also puts the British state directly on a life-sciences cap table rather than behind a fund manager, a rare direct bet in a funding landscape otherwise dominated by equity investors.