Apollo Therapeutics Announces Second Close of Series C Financing Bringing Total Raised in Round to $260 Million
Summary
"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," said Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics. Proceeds from the Series C fundraise are being used to (i) advance pipeline programs through clinical development and further fund Apollos 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.Apollo Therapeutics ("Apollo") is a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines. The advantages of this model, which incorporates best practices from big pharma and venture capital, are (1) enhanced focus at the individual asset level; (2) access to centralized expertise and scale-up capabilities, providing operational efficiencies; (3) attraction of the best talent into both centralized management team and asset leadership positions; (4) flexibility in both capital financing and routes to liquidity, and (5) risk mitigation through a diversified portfolio with uncorrelated risk, attracting a wider investor base.The Company has a scalable R&D platform for the evergreen discovery and development of new medicines. Program selection is agnostic to indication and is primarily driven by the quality of the science and the potential to transform the standard of care in major commercial markets. Patient Square utilizes deep industry expertise, a broad network of relationships and a partnership approach to make investments in companies grow and thrive.