Apollo Therapeutics Closes $226.5 Million Series C Financing

Apollo Therapeutics announced on Sept.6, 2023 the close of $226.5 million in a Series C financing led by lead investor Patient Square Capital, according to a press release.

“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, in a press release. “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.”

It was noted that there was participation by multiple new investors including M&G plc, in addition to two of the largest US public pension plans and the existing investor, Rock Springs Capital. Further, the financing significantly adds to the $195 million previously raised by the company, according to the press release.

The proceeds will be put toward the advancement of pipeline programs through clinical development and fund Apollo’s drug discovery and development activities based on breakthroughs in basic medical research made at its partner institutions. Apollo is a part of a research and development platform for the development of new medicines, with program selection being hesitant to indication and primarily driven by quality of science or the potential to transform the standard of care in major commercial markets, according to the press release. The current partner institutions include The University of Cambridge, Imperial College London, University College London, King’s College London, and The Institute of Cancer Research.

“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,” said Jim Momtazee, managing partner of Patient Square Capital, and member of Apollo Therapeutic’s Board of Directors, in a press release.

Source: Apollo Therapeutics