Alchemab Therapeutics Funding, Investors & Competitors

Alchemab Therapeutics has raised $148M across 4 funding rounds, most recently a $33M Series A in July 2026.

Last Alchemab Therapeutics funding round

$33M

Series A · Jul 2026

Cumulative funding Alchemab Therapeutics raised

$148M

across 4 funding rounds

Key investors in Alchemab Therapeutics

  • SV Health Investors
  • RA Capital Management
  • Lightstone Ventures
  • DCVC Bio
  • Dementia Discovery Fund
  • DCVC
  • Eli Lilly
  • DHVC

Alchemab Therapeutics Overview

About Alchemab Therapeutics

Alchemab Therapeutics is a London-based biotech firm pioneering natural protective antibodies for oncology, neurodegeneration, and infectious diseases. The company employs its proprietary immune repertoire analysis platform to discover tumor-protective antibodies from patient samples, advancing a pipeline including candidates for hard-to-treat cancers. Founded in 2019, Alchemab collaborates with AstraZeneca and other pharma partners.


Founded

2019

HQ

United KingdomLondon

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Alchemab Therapeutics Funding History

Alchemab Therapeutics has raised a total of $148M across 4 funding rounds.

Alchemab Therapeutics' first fundraising round was a $200K seed round in December 2019. The most recent completed round was a $33M Series A in July 2026.

Alchemab Therapeutics funding rounds

Alchemab Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2026Series ABritish Business Bank Investments (lead)$33MAlchemab Therapeutics, a clinical-stage biotech based in Cambridge, UK, extended its Series A financing with a £25 million ($34 million) investment from the British Business Bank on July 9, 2026, marking the Bank's largest direct investment in a life sciences company to date. This additional tranche brings Alchemab's total Series A investment to £109 million ($148 million), with the funding structured as part of the round's third and final tranche involving new investor British Business Bank PLC and returning investor Camford Capital. The strategic rationale centers on expanding Alchemab's AI-enabled antibody database from 500 million to 1 billion sequences and advancing next-generation human-derived antibody candidates into clinical development, leveraging its proprietary platform for next-generation therapeutics. Alchemab operates as a clinical-stage biotechnology firm focused on developing human-derived antibody therapeutics using AI-driven discovery, with operations centered in the UK and a pipeline targeting novel clinical candidates.
Sep 2025Series AOno Venture Investment (lead); Lightstone Ventures; SV Health Investors; DCVC Bio; Eli Lilly; RA Capital Management$32MAlchemab Therapeutics, a UK-based biotech company, develops an AI-enabled platform to identify protective autoantibodies for treating diseases, focusing on immune and neurological conditions as well as muscle atrophy. The company announced a $32 million Series A extension financing on September 9, 2025, bringing the total Series A to $114 million, with participation from Ono Venture Investment (lead), Eli Lilly and Company, Lightstone Ventures, RA Capital Management, SV Health Investors, and DCVC Bio. This followed an earlier tranche and amended terms, with total funding reaching approximately £84.28 million (equivalent to about $114 million). The new capital supports initiation of Phase 1 clinical trials for ATLX-1282, a broadly neuroprotective antibody candidate under exclusive license to Eli Lilly (deal worth up to $415 million), where Alchemab handles initial safety and dosing studies before Lilly assumes further development. Funds also advance wholly-owned ATLX-2847, targeting muscle atrophy via the prostaglandin pathway, into clinical development, alongside earlier-stage programs and platform expansion. This provides a three-year runway for milestones in collaborative and proprietary projects. The financing validates Alchemab's disease resilience-led antibody discovery approach, building on a January 2025 research collaboration with Lilly for up to five neurodegenerative candidates. As a founding investor-supported company from Cambridge, U.K., Alchemab progresses its pipeline amid growing interest in novel antibody therapeutics.
Apr 2021Series ARA Capital Management (lead); Lightstone Ventures; SV Health Investors; DHVC; DCVC; Dementia Discovery Fund$83MAlchemab Therapeutics, a Cambridge, UK-based biotech company, develops novel antibody therapeutics for hard-to-treat diseases like neurodegeneration and cancer by harnessing naturally protective antibodies identified through high-throughput sequencing and deep-learning applied to resilient patient cohorts. The company announced a £60 million ($82 million) Series A financing on April 15, 2021, led by RA Capital Management with participation from Lightstone Ventures, Data Collective VC (DCVC), DHVC, SV Health Investors, and the Dementia Discovery Fund. This followed a Seed round in 2019 led by SV Health Investors, who also created the company. Proceeds were earmarked to advance lead programs in neurodegeneration and cancer, building on technology developed with scientific founders from Oxford University, Johns Hopkins University, and Mount Sinai Hospital. Alchemab's platform focuses on discovering disease-modifying antibodies from individuals resilient to disease, positioning it as a pioneer in protective auto-antibody identification with access to Illumina’s Cambridge Accelerator. The management team, led by CEO Alex Leech, brings expertise in antibody repertoires, computational biology, and disease understanding. The 2021 round provided substantial validation from a high-caliber US and European investor syndicate, aiming to establish Alchemab as a major player in novel target and antibody discovery for neurodegeneration and cancer. Subsequent developments include a Series A extension of $32 million announced in September 2025, bringing total Series A to $114 million, with new participation from Eli Lilly and Ono Venture Investment alongside existing investors. This supported Phase 1 initiation for ATLX-1282 (neuroprotective antibody licensed to Lilly for up to $415 million) and advancement of wholly-owned ATLX-2847 for muscle atrophy targeting the prostaglandin pathway, plus earlier programs in immune and neurological conditions. A January 2025 research collaboration with Lilly targets up to five novel candidates for neurodegenerative diseases.
Dec 2019SeedDCVC Bio (lead); Dementia Discovery Fund (lead); SV Health Investors$200K-

Who has invested in Alchemab Therapeutics?

10 investors have backed Alchemab Therapeutics across its funding rounds, including SV Health Investors, RA Capital Management, Lightstone Ventures, DCVC Bio, Dementia Discovery Fund and DCVC.

Lead investors include British Business Bank Investments, Ono Venture Investment, RA Capital Management, DCVC Bio and Dementia Discovery Fund.


Alchemab Therapeutics Investors

Investors in Alchemab Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
SV Health InvestorsUnited StatesBoston, MA3ParticipantDec 2019
Lightstone VenturesUnited StatesSan Francisco, CA2ParticipantApr 2021
DCVC BioUnited StatesSan Francisco, CA2LeadDec 2019
RA Capital ManagementUnited StatesBoston, MA2LeadApr 2021
Dementia Discovery FundUnited KingdomLondon2LeadDec 2019
British Business Bank InvestmentsUnited KingdomSheffield1LeadJul 2026
Eli LillyUnited StatesIndianapolis, IN1ParticipantSep 2025
DHVCUnited StatesSan Francisco, CA1ParticipantApr 2021

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Alchemab Therapeutics Competitors

Alchemab Therapeutics competitors include listed companies like Merck KGaA, Eli Lilly and Johnson & Johnson, and private ones like Sinovac Life Sciences, Immunai and ZSPepLib.

Public and private companies comparable to Alchemab Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Merck KGaAGermanyGermanyPublicly listed$24B$5.3B$66B3.1x
Sinovac Life SciencesChinaBeijingPrivate--$3.3B-
ImmunaiUnited StatesNew York City, NYPrivate--$1B-
ZSPepLibChinaZhuzhouPrivate--$732M-
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x
Johnson & JohnsonUnited StatesUnited StatesPublicly listed$94B$40B$651B6.8x

Alchemab Therapeutics Public Comps

Alchemab Therapeutics is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eli Lilly$65B$28B16.5x13.1x38.7x27.0x
Johnson & Johnson$94B$40B7.2x6.8x17.0x18.3x
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Merck$65B$28B6.3x6.2x14.7x21.0x
Roche$77B$26B5.0x4.9x14.6x12.4x
Novartis$57B$22B5.5x5.5x14.2x13.3x
AstraZeneca$59B$19B4.8x4.5x14.6x12.7x
Amgen$37B$17B6.8x6.5x14.8x14.4x

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Common questions about Alchemab Therapeutics

When was Alchemab Therapeutics founded?Alchemab Therapeutics was founded in 2019.
Where is Alchemab Therapeutics headquartered?Alchemab Therapeutics is headquartered in London, United Kingdom.
Is Alchemab Therapeutics publicly listed?No, Alchemab Therapeutics is a private, VC-backed company.
How much funding has Alchemab Therapeutics raised?Alchemab Therapeutics has raised $148M across 4 funding rounds.
What was Alchemab Therapeutics' last funding round?Alchemab Therapeutics' last funding round was a $33M Series A in July 2026, led by British Business Bank Investments.
Who are Alchemab Therapeutics' investors?Alchemab Therapeutics' investors include SV Health Investors, Lightstone Ventures, DCVC Bio, RA Capital Management, Dementia Discovery Fund, British Business Bank Investments, Eli Lilly, DHVC, Ono Venture Investment and DCVC.
Which companies are comparable to Alchemab Therapeutics?Companies comparable to Alchemab Therapeutics include Merck KGaA, Sinovac Life Sciences, Immunai, ZSPepLib, Eli Lilly and Johnson & Johnson.

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