UK’s Apollo Therapeutics completes second close of its Series C financing; raises additional €30.5M

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Apollo Therapeutics, a biopharmaceutical company, has concluded its Series C financing with a second close, securing an additional $33.5M (approximately €30.52M) in December 2023.

This brings the company’s total funds raised in 2023 to $260M (approximately €236.91M), supporting its mission to translate medical research into innovative medicines.

Patient Square Capital led the round, with new investors like M&G plc and two major US public pension plans joining, alongside existing investor Rock Springs Capital.

Capital utilisation

The funding for Apollo Therapeutics is allocated for two main purposes: 

(i) Advancing pipeline programmes through clinical development and providing additional funding for Apollo’s drug discovery and development activities, leveraging breakthroughs in basic medical research from its partner institutions.

(ii) Licensing or acquiring additional clinical-stage programmes that meet rigorous selection criteria, thereby expanding and strengthening the company’s portfolio.

Dr. Richard Mason, CEO of Apollo Therapeutics says, “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.”

“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.”

Brief about Apollo Therapeutics

Apollo Therapeutics is a biopharmaceutical company specialising in translating fundamental medical research into medicines. 

Its portfolio model employs a “hub-and-spoke” approach, centralising management expertise while dedicating seasoned leaders to individual therapeutic programmes within wholly-owned subsidiary companies. 

According to the company, this structure enhances focus, provides operational efficiencies, attracts top talent, offers flexible financing, and mitigates risks through a diversified portfolio.

With access to leading universities and research institutes, Apollo’s scalable R&D platform focuses on evidence of causal human biology for therapeutic targets, independent of indication.

Apollo has operations in Cambridge, UK, and Boston and Chicago, US and has raised over $450M (approximately €410.24M) since its inception, backed by prominent healthcare investors.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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