Alchemab’s neurodegenerative antibody licensed by Eli Lilly for US$415M

Under the agreement, Alchemab will manage the initial clinical development through early Phase I trials, after which Lilly will take over later-stage development, regulatory approvals, and global commercialization.

UK—Alchemab Therapeutics has signed a licensing agreement with Eli Lilly worth up to US$415 million for ATLX-1282, an investigational antibody therapy targeting amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases.

The deal includes an undisclosed upfront payment, milestone payments linked to discovery, development, and commercialization stages, as well as tiered royalties on future sales.  

Under the agreement, Alchemab will manage the initial clinical development through early Phase I trials, after which Lilly will take over later-stage development, regulatory approvals, and global commercialization.

ATLX-1282 is the lead asset from Alchemab’s proprietary discovery platform, which uses a combination of laboratory protein science, computational methods including AI and machine learning, and extensive immune profiling.

 The platform analyzes millions of antibody sequences from genetically at-risk but symptom-free individuals, aiming to identify antibodies associated with resilience to diseases like ALS and frontotemporal dementia (FTD).

 Notably, ATLX-1282 was discovered from antibody sequences found in people carrying genetic mutations linked to FTD who remain symptom-free into old age.

 Alchemab’s approach is supported by infrastructure such as Nvidia’s Cambridge-based supercomputing facilities.

This licensing deal builds on an earlier collaboration between Alchemab and Lilly announced in January 2025, which aims to jointly discover and develop up to five novel ALS therapies.

The partnership comes at a challenging time for ALS drug development, as recent trials by other companies, including AbbVie, Calico, Denali Therapeutics, and Amylyx Pharmaceuticals, have failed to show significant clinical benefits.

ALS remains a complex disease with high failure rates in drug development despite substantial investment.

Lilly has been actively expanding its ALS pipeline through acquisitions and collaborations, including a US$1.04 billion acquisition of Prevail Therapeutics in 2020, a 2021 deal with Verge Genomics, and a US$45 million upfront payment for QurAlis’ preclinical treatment in 2024.

Currently, only a few ALS therapies are approved, and they offer limited benefits.

The ALS treatment market across major countries was valued at US$318 million in 2019 and is expected to grow to US$1.28 billion by 2029, driven by unmet clinical needs and ongoing research.

Founded in 2019, Alchemab has raised over US$80 million from investors such as RA Capital, Lightstone Ventures, SV Health Investors, DCVC Bio, and the Dementia Discovery Fund.

CEO Jane Osbourn described the deal as a landmark transaction, highlighting Lilly’s expertise in neurological conditions as key to advancing ATLX-1282 through clinical development and ultimately helping patients.

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