UK-based Alchemab Therapeutics has signed a landmark licensing agreement with Eli Lilly and Company for its IND-ready neurodegeneration programme, ATLX-1282.

This is the first asset to emerge from Alchemab’s antibody discovery platform built around “resilient individuals.”

The deal, worth up to $415 million in total, includes an upfront payment, milestones across development and commercialisation, and royalties. Alchemab will conduct early-phase clinical development, after which Lilly will take over all further development and commercial activities.

ATLX-1282 targets a novel receptor identified via Alchemab’s platform, which analyses millions of antibody sequences from people who are genetically predisposed to conditions such as frontotemporal dementia (FTD) but remain symptom-free. The platform uses a combination of machine learning, AI, and proprietary data pipelines, supported by access to Nvidia’s supercomputing capabilities in Cambridge.

This antibody was discovered through samples from the GENFI consortium, which hosts the largest cohort of FTD patients worldwide. Subsequent research revealed the candidate’s potential for neuroprotection across a range of neurodegenerative diseases, including ALS and FTD.

Jane Osbourn, CEO of Alchemab, said the licensing deal “marks a major milestone” for the company, calling it a “tremendous endorsement” of their hybrid AI and lab-based approach to drug discovery. She said: “With Lilly’s deep expertise in neurological conditions, they are ideally placed to advance ATLX-1282 and maximise its potential to help patients.”

The licensing agreement builds on a broader partnership between the two companies, announced earlier this year, to co-develop up to five novel ALS candidates.