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UCL, Imperial College London and University of Cambridge are behind innovative industry university collaboration receiving £100m funding to rapidly advance cutting-edge science
17 June 2021
Apollo Therapeutics, a unique collaboration between three leading universities (University College London, Imperial College and University of Cambridge) and three global pharmaceutical companies (AstraZeneca, GlaxoSmithKline and Johnson & Johnson) set up in late 2015 has received £100m in investment to further develop and translate early-stage science into clinical development for patient benefit.
In order to translate research in the most time and capital efficient way possible, Apollo Therapeutics has been set up as a portfolio-based biopharmaceutical company and has completed a £100m Series A financing deal. The financing was led by Patient Square Capital, with participation from additional investors including UCL Technology Fund, Rock Springs Capital and Reimagined Ventures. Proceeds from the investment will support rapid advancement of the pipeline with over 15 therapeutic programs currently in development across oncology, major inflammatory disorders and rare disease. Apollo will continue to collaborate with UCL, University of Cambridge and Imperial College to source new projects for further development.
Apollo is grounded in research from UCL, Imperial College and University of Cambridge. The collaboration between the three universities and three pharmaceutical companies – AstraZeneca, GlaxoSmithKline and Johnson & Johnson is unique and is a capital efficient innovative way to ensure more research can be translated and commercialised at scale.
The three British universities are in the top 10 universities in the world and are at the forefront of developing basic and translational research including oncology, major inflammatory disorders and rare disease, that provides opportunities for drug discovery.
Apollo also secured its first out-licensing deal last summer from technology developed at UCL with Axovia, a company backed by Deerfield, another U.S. healthcare investment firm and with support from UCL Technology Fund.
UCL Vice-Provost Professor David Price said: “Apollo Therapeutics is a shining example of how UK universities and industry are working together to rapidly advance potentially transformative treatments of serious diseases. The model is innovative and shaping translational science. The significant new financing opens up a new chapter for Apollo, with enormous potential to ensure more research can be commercialised at scale to improve the lives of millions worldwide.”
Anne Lane, CEO, of UCL Business, UCL’s commercialisation company said: “Apollo’s business model, combining world class academia with leading global pharmaceutical partners, has allowed it to grow rapidly with the right investment. Patient Square Capital’s commitment, joined by other partners such as the UCL Technology Fund, is exciting and will enable Apollo to drive forward more breakthroughs through its pipeline and deliver greater patient benefit quicker. Whether it’s new research, or new licensing deals, the latest financing will enable Apollo to continue to advance drug discovery across many different therapy areas. UCLB and the leading UCL researchers we support are excited to be a partner in Apollo as it grows globally, reaching more people and ultimately, benefitting more patients.”
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About Apollo Therapeutics
Apollo Therapeutics is a portfolio-based biopharmaceutical company rapidly advancing a robust pipeline of potentially transformative therapeutic programs based on breakthrough discoveries. Through deep relationships with world-leading scientists and inventors, the company identifies programs with strong biological hypotheses and potential to become meaningful new treatment options. Apollo’s model combines drug development ‘architects’ and deep subject matter experts to build an expansive and de-risked pipeline in oncology, major inflammatory disorders and rare disease. Apollo was formed in late 2015 as a joint venture between three leading academic institutions – University of Cambridge, Imperial College London and University College London, and three pharmaceutical and healthcare companies – AstraZeneca, GlaxoSmithKline (GSK) and Johnson & Johnson Innovation – JJDC, Inc. For more information, visit www.apollotherapeutics.com.
About Patient Square Capital
Patient Square Capital is a dedicated health care investment firm that partners with best-in-class management teams whose products, services and technologies improve health. We utilize our deep industry expertise, our broad network of relationships and a true partnership approach to make investments in companies that will grow and thrive. We believe in the power these companies have to improve patient lives, strengthen communities and create a healthier world. Patient Square is purpose-built by a team of industry-leading executives, differentiated by the depth of our focus in health care, the breadth of our health care investing experience, and the network we can activate to drive differentiated outcomes. Most importantly, patients are squarely at the center of all that we do. For more information, visit www.patientsquarecapital.com.
About UCL – London’s Global University
UCL is a diverse community with the freedom to challenge and think differently.
Our community of more than 41,500 students from 150 countries and over 12,500 staff pursues academic excellence, breaks boundaries and makes a positive impact on real world problems.
We are consistently ranked among the top 10 universities in the world and are one of only a handful of institutions rated as having the strongest academic reputation and the broadest research impact.
We have a progressive and integrated approach to our teaching and research – championing innovation, creativity and cross-disciplinary working. We teach our students how to think, not what to think, and see them as partners, collaborators and contributors.
For almost 200 years, we are proud to have opened higher education to students from a wide range of backgrounds and to change the way we create and share knowledge.
We were the first in England to welcome women to university education and that courageous attitude and disruptive spirit is still alive today. We are UCL.
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