Apollo Therapeutics closes $226.5 million Series C financing led by Patient Square Capital
Cambridge, UK and Boston, US – Apollo Therapeutics (“Apollo” or “the Company”), a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines through a hub-and-spoke approach, today announces the close of $226.5 million in a Series C financing led by lead investor Patient Square Capital.
- $226.5 million million raised.
- Financing led by Patient Square Capital.
- Participation by multiple new investors including M&G plc and two of the largest US public pension plans, along with existing investor Rock Springs Capital.
- Financing significantly adds to the $195 million previously raised by the Company.
- Apollo’s broad and diversified pipeline currently consists of over 20 programs with multiple near and medium-term value catalysts and uncorrelated risk.
- Proceeds will be used to (i) advance pipeline programs through clinical development and further fund Apollo’s drug discovery and development activities based on breakthroughs in basic medical research made at its partner institutions, (ii) licence or acquire additional clinical-stage programs that meet strict selection criteria.
- Apollo has a scalable R&D platform for the evergreen discovery and development of new medicines. Program selection is agnostic to indication and primarily driven by the quality of science and the potential to transform the standard of care in major commercial markets. This is enabled by an unprecedented level of access to world-class research institutions through unique partnership agreements.
- Current partner institutions are The University of Cambridge, Imperial College London, University College London, King’s College London, and The Institute of Cancer Research.
“We are delighted to announce the close of our latest fundraise and wish to thank our existing investors for their continued support, as well as warmly welcoming all the new investors.” said Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics. “Apollo has built a broad and diversified pipeline focused on major commercial markets and this latest fund-raising enables us to take our most advanced programs to key clinical value inflection points.”
“I have long believed in a business model for drug development characterized by extremely talented management, sufficient capital to pursue multiple programs and world-class science focused on unmet medical need. We are proud to support Apollo Therapeutics as it develops a number of promising medicines that we anticipate will eventually transform patient care.” commented Jim Momtazee, Managing Partner of Patient Square Capital, and member of Apollo Therapeutic’s Board of Directors.