Apollo Therapeutics, a biopharmaceutical company, has successfully concluded its Series C financing with a second close, securing an additional $33.5 million (approximately €30.52 million).
This funding brings the company’s total raised in 2023 to $260 million (approximately €236.91 million), bolstering its mission to transform medical research into innovative medicines.
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Advancing Medical Research and Drug Development
The funding will be allocated for two main purposes: advancing pipeline programs through clinical development and providing additional support for Apollo’s drug discovery and development activities. This includes leveraging breakthroughs in basic medical research from its partner institutions. Additionally, the company plans to license or acquire additional clinical-stage programs that meet rigorous selection criteria, thereby expanding and strengthening its portfolio.
Diverse and Diversified Therapeutic Programs
Dr. Richard Mason, CEO of Apollo Therapeutics, expressed excitement about the completion of the Series C financing. He highlighted the company’s progress with a broad and diversified pipeline of over 20 uncorrelated therapeutic programs, with multiple assets set to enter clinical trials in early 2024.
About Apollo Therapeutics
Specializing in translating fundamental medical research into medicines, Apollo Therapeutics employs a “hub-and-spoke” portfolio model. This approach centralizes management expertise while dedicating seasoned leaders to individual therapeutic programs within wholly-owned subsidiary companies. The structure enhances focus, operational efficiencies, attracts top talent, offers flexible financing, and mitigates risks through a diversified portfolio.
Global Operations and Funding Milestones
With operations in Cambridge, UK, and Boston and Chicago, US, Apollo Therapeutics has raised over $450 million (approximately €410.24 million) since its inception. The company is backed by prominent healthcare investors and has access to leading universities and research institutes.
A Leader in Biopharmaceutical Innovation
Apollo Therapeutics’ successful Series C financing positions the company as a leader in biopharmaceutical innovation. With its focus on evidence of causal human biology for therapeutic targets and a diversified portfolio, Apollo is set to make significant strides in the development of innovative medicines.
