Apollo Therapeutics closes Series C financing at $260 million

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

Apollo is a UK-based biopharmaceutical company advancing a pipeline of therapeutic programmes in oncology, major inflammatory disorders and rare diseases. The company initially raised $226.5 million in September 2023.

The company was initially founded as partnership between three research organisations, Cambridge University, Imperial College London and University College London, and three pharmaceutical companies, AstraZeneca, GSK and J&J.

“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 programs, with multiple assets about to enter the clinic in early 2024. We look forward to an exciting year ahead.”

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.

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