Apollo Therapeutics, a biopharmaceutical company, has successfully raised over £180 million in Series C financing. The funding round welcomed several new investors, including M&G plc and two major US public pension plans, while existing investor Rock Springs Capital also participated. Patient Square Capital led the round. Previously, Apollo had raised $195 million.
Apollo operates a scalable R&D platform for the continuous discovery and development of new medicines. Its program selection is driven by the quality of scientific research and the potential to revolutionize standard care in major commercial markets, regardless of the indication. This is made possible through unique partnership agreements with renowned research institutions such as the University of Cambridge, Imperial College London, University College London, King’s College London, and The Institute of Cancer Research.
The proceeds from the financing will be allocated towards advancing its 20 ongoing programs through clinical development. Additionally, the funding will support Apollo’s drug discovery and development activities based on breakthroughs in basic medical research. The company also intends to explore opportunities to license or acquire additional clinical stage programs that meet its strict selection criteria.
“We are pleased to announce the successful completion of our latest fundraise and express our gratitude to our existing investors for their continuous support. We also extend a warm welcome to all our new investors,” stated Dr. Richard Mason, CEO of Apollo Therapeutics. “With a broad and diversified pipeline focused on major commercial markets, this latest round of funding allows us to progress our most advanced programs to key clinical value inflection points.”
Jim Momtazee, managing partner of Patient Square Capital and a member of Apollo’s board of directors, commented, “I have always believed in a business model for drug development that comprises exceptional management, ample capital to pursue multiple programs, and world-class science dedicated to addressing unmet medical needs. We are proud to support Apollo Therapeutics as it develops several promising medicines that we anticipate will ultimately transform patient care.”