Alchemab advances first ALS candidate into clinic, raises $32m in funding boost

Alchemab Therapeutics has begun its first-in-human study of ATLX-1282, a potential treatment for amyotrophic lateral sclerosis, triggering a milestone payment from partner Eli Lilly (NYSE: LLY).

The trial marks the first clinical program for the Cambridge, UK-based biotech, which focuses on discovering antibodies in individuals naturally resilient to disease. Lilly will take over development and commercialization after Phase I, while Alchemab oversees the early clinical work.

The study start comes alongside a $32 million extension to the company’s Series A, lifting the round to $114 million in total. New investor Ono Venture Investment joined existing backers including RA Capital, SV Health Investors, DCVC Bio and Lightstone Ventures, with Lilly also contributing a strategic investment.