Alchemab Therapeutics, a next-generation biopharmaceutical company, has entered into a licensing agreement with Eli Lilly and Company (Lilly) for ATLX-1282, Alchemab’s first-in-class IND-ready program for amyotrophic lateral sclerosis (ALS) and other neurodegenerative conditions.

The transaction is worth up to a total of $415 million, including an undisclosed upfront payment, potential discovery, development, and commercialization payments and royalties. Under the terms of the agreement, Alchemab will be taking the program through early Phase 1 clinical trials, after which Lilly will lead all further development and commercialization.

Alchemab’s platform uses machine learning and AI to analyze the complexities of the human immune response and identify antibodies that are uniquely associated with resilience to untreatable diseases. Through its research, Alchemab identified an antibody in people with mutations that normally lead to frontotemporal dementia (FTD), but who remain well into old age. These samples were sourced from a collaboration with the Genetic Frontotemporal Initiative (GENFI) consortium.

Starting from the antibody sequence, Alchemab was able to identify the target and has subsequently demonstrated its importance in neuroprotection, and across multiple neurodegenerative conditions including ALS and FTD.

Alchemab’s Chief Executive Officer, Jane Osbourn, commented: “As the first program from our highly novel platform, this is a landmark transaction for Alchemab. With Lilly’s deep expertise in neurological conditions, they are ideally placed to speedily advance ATLX-1282 through the clinic and maximize the potential to help patients. We believe this innovative program has enormous promise and look forward to working with Lilly to bring this to fruition.”

This transaction builds on a separate discovery collaboration agreement with Lilly announced in January 2025 to discover, develop and commercialize up to five novel therapeutic candidates for ALS.