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Apollo Therapeutics, a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines through a hub-and-spoke approach, has announced the close of $226.5 million in a Series C financing.
The financing round was led by Patient Square Capital. Other participants included new investors such as M&G plc, two of the largest US public pensions and existing investor Rock Springs Capital. This latest round significantly adds to the $195 million previously raised by Apollo Therapeutics.
Proceeds will be used to advance pipeline programmes through clinical development and further fund Apollo’s drug discovery and development activities based on breakthroughs in basic medical research made at its partner research institutions. The financing will also be used to license or acquire additional clinical stage programmes that meet strict selection criteria.
Apollo has a scalable R&D platform for the evergreen discovery and development of new medicines. Programme selection is agnostic to indication and primarily driven by 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.
A unique collaborative venture to speed development of breakthrough medical discoveries, Apollo Therapeutics was originally a six-way partnership devised by the technology transfer offices of three world-leading universities (University of Cambridge, Imperial College London and University College London) and embraced by pharmaceutical giants AstraZeneca, GlaxoSmithKline, and Johnson & Johnson Innovation. In June 2021, following a $145 million raise, Apollo became an independent biopharmaceutical company. The original partners all remain and have recently been joined by King’s College London and The Institute of Cancer Research.