Apollo Therapeutics – a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines through a hub-and-spoke approach – recently announced that during December 2023, it completed a second close of its Series C financing, raising an additional $33.5 million and bringing the total raised in this round by the company during 2023 to $260 million.
The Series C funding was led by Patient Square Capital and included participation by multiple new investors, including M&G plc and two of the largest US public pension plans, along with existing investors, including Rock Springs Capital.
The proceeds from the Series C fundraising are being 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) license or acquire additional clinical-stage programs that meet strict selection criteria.
KEY QUOTE:
“We are delighted to have completed the second close of our Series C financing in December and thank existing investors for their additional support, as well as welcoming new shareholders to the company. We are progressing a broad and diversified pipeline of over 20 uncorrelated therapeutic programs, with multiple assets about to enter the clinic in early 2024. We look forward to an exciting year ahead.”
— Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics
