UCLB News

UCLB spinout Apollo Therapeutics closes second Series C financing, bringing the round’s total to $260m

5 January 2024

Apollo Therapeutics has revealed that during December 2023 it completed a second close of its Series C financing, raising an additional $33.5m: bringing the total raised in this round by the company during 2023 to $260m.

The Series C financing 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.

Proceeds from the Series C fundraise are being used to advance pipeline programmes 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. It will also use the funds to license or acquire additional clinical stage programmes that meet ‘strict selection criteria’.

“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. “We are progressing a broad and diversified pipeline of over 20 uncorrelated therapeutic programmes, with multiple assets about to enter the clinic in early 2024. We look forward to an exciting year ahead.”

Apollo Therapeutics is a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines.