Apollo Therapeutics, a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines, today announced $226.5 million (£180.4 million) in Series C financing.
In 2022, King's entered a collaboration with Apollo Therapeutics and other university partners to develop new therapeutics for patients across multiple disease areas. Recognised for having one of the leading scientific discovery portfolios in the world, King's committed to contribute biological research findings and offer support to the programmes during the clinical development phases.
This series C funding, which is intended to grow the company now that it has passed its early start-up issues, is in addition to $195 million previously raised by Apollo Therapeutics.
The funding will be used to advance programmes through clinical development, finance Apollo Therapeutics' drug discovery and development activities based on research breakthroughs made at partner institutions, as well as to licence or acquire additional clinical stage programmes that meet strict selection criteria.
Programmes are chosen by the quality of scientific research and their potential to improve standards of care in commercial markets. This is further aided by access to research institutions like King's, through partnership agreements.
The partners in this collaboration include the University of Cambridge, Imperial College London, University College London and The Institute of Cancer Research.
We are delighted to announce the close of our latest fundraise and wish to thank our existing investors for their continued support, as well as warmly welcoming all the new investors. Apollo has built a broad and diversified pipeline focused on major commercial markets and this latest fund-raising enables us to take our most advanced programs to key clinical value inflection points.
Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics
