Apollo Therapeutics Announces Second Close of Series C Financing Bringing Total Raised in Round to $260 Million

CAMBRIDGE, England & BOSTON--(BUSINESS WIRE)-- Apollo Therapeutics (“Apollo” or “the Company”), a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines through a hub-and-spoke approach, today announces that during December 2023 it 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.

“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 (i) advance pipeline programs 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, (ii) license or acquire additional clinical stage programs that meet strict selection criteria.

About Apollo Therapeutics

Apollo Therapeutics (“Apollo”) is a portfolio biopharmaceutical company focused on translating fundamental medical research into medicines. The portfolio-model is built around a centralized management team of capital allocators and functional leaders with deep expertise in pharmaceutical R&D, manufacturing, commercial strategy, fund-raising, and business development, leveraged over a diverse portfolio of therapeutic programs, each led by a dedicated and seasoned asset leader. Assets are housed in separate wholly owned subsidiary companies, a “hub-and-spoke” approach. The advantages of this model, which incorporates best practices from big pharma and venture capital, are (1) enhanced focus at the individual asset level; (2) access to centralized expertise and scale-up capabilities, providing operational efficiencies; (3) attraction of the best talent into both centralized management team and asset leadership positions; (4) flexibility in both capital financing and routes to liquidity, and (5) risk mitigation through a diversified portfolio with uncorrelated risk, attracting a wider investor base.

The Company has a scalable R&D platform for the evergreen discovery and development of new medicines. This is enabled by an unprecedented level of access to five of the world’s leading universities and research institutes. Program selection is agnostic to indication and is primarily driven by the quality of the science and the potential to transform the standard of care in major commercial markets. The Company is focused on establishing evidence of causal human biology for its therapeutic targets using human genetics and genetic epidemiology. Backed by leading specialist health care investors, Apollo has operations in Cambridge, U.K., and Boston and Chicago, U.S. Apollo has raised a total of over $450m since its inception. For more information, visit www.apollotherapeutics.com.

About Patient Square Capital

Patient Square Capital (“Patient Square”) is a dedicated health care investment firm with more than $7.5 billion in assets under management as of September 30, 2023. The firm partners with best-in-class management teams whose products, services and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships and a partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world. For more information, visit www.patientsquarecapital.com.

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