Sector News

Apollo Therapeutics secures $226.5m to advance pipeline programmes

September 10, 2023
Life sciences

The proceeds will be used to finance drug development works based on advances in partner institutes’ research.

Portfolio biopharmaceutical company Apollo Therapeutics has secured $226.5m in a Series C funding round to advance its pipeline of programmes.

Patient Square Capital led the financing round with new investors including M&G as well as two US public pension plans taking part.

The funding round also saw participation from current investor Rock Springs Capital.

Apollo plans to utilise the funds to progress its pipeline programmes through clinical development.

The proceeds will also be used to finance drug discovery and development works of the company based on developments in its partner institutes’ research.

Furthermore, the company will license or purchase further clinical-stage programmes that meet a stringent selection process.

Apollo Therapeutics CEO Dr Richard Mason said: “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.

“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 programmes to key clinical value inflection points.”

The latest funding adds to $195m in proceeds secured earlier by the company.

Apollo focuses on advancing major medical research into treatments leveraging a “hub-and-spoke” approach.

Patient Square Capital managing partner Jim Momtazee said: “I have long believed in a business model for drug development characterised by extremely talented management, sufficient capital to pursue multiple programmes 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.”

Source: pharmaceutical-technology.com

comments closed

Related News

May 26, 2024

From pharma to food: Vitafoods 2024 highlights

Life sciences

Beyond the vibrant displays and insightful discussions at Vitafoods 2024 stood the backdrop of a rapidly expanding nutraceutical market. With consumers increasingly seeking preventive healthcare solutions and natural alternatives to traditional medicine, the global nutraceutical industry has witnessed remarkable growth in recent years.

May 26, 2024

Genmab completes acquisition of ProfoundBio

Life sciences

Genmab has completed its $1.8 billion acquisition of ProfoundBio, a clinical-stage biotechnology company developing next-generation antibody-drug conjugates (ADC)s and ADC technologies for the treatment of cancers.

May 26, 2024

Merck to acquire life science company Mirus Bio

Life sciences

Merck has agreed to acquire US life sciences company Mirus Bio for $600 million (around €550 million) from Gamma Biosciences, a life sciences platform established by global investment firm KKR. Based in Madison, Wisconsin, Mirus Bio is a specialist in the development and commercialization of transfection reagents.

How can we help you?

We're easy to reach