Biotechnology company Alchemab Therapeutics has been awarded a grant of £1.7 million (US$2 million) from Innovate UK’s Biomedical Catalyst 2022 funding competition, to accelerate development of a first-in-class disease modifying therapy for Huntington’s disease.
Working in collaboration with Medicines Discovery Catapult (MDC), Alchemab is carrying out preclinical studies to progress its panel of antibodies towards first in human studies.
Huntington’s disease is a devastating neurodegenerative disorder for which there is no cure or treatment to slow or stop disease progress, only treatments to help manage the symptoms.
Young Kwon, Chief Executive Officer of Alchemab, said: “Our aim is to develop antibodies as therapies to transform the treatment of Huntington’s disease by slowing or stopping the course of neurodegeneration. This latest funding from Innovate UK will enable us to accelerate development of our antibody and deliver some hope for patients.”
This is the second grant awarded to Alchemab and MDC. The financing will support preclinical development of the lead antibody to demonstrate the required safety, efficacy and manufacturability profile for first in human clinical trials and preparation for later stages of development.
The grant was awarded by Innovate UK, the UK’s innovation agency, as part of the Biomedical Catalyst 2022 industry-led research and development (R&D) competition, to support UK businesses developing innovative health or healthcare-focussed products, technologies and processes.
