MedTech Apollo Therapeutics has raised more than 拢100 million in financing.听听
The portfolio-based biopharmaceutical company is rapidly advancing potentially transformative treatments based on breakthrough discoveries.听听
The financing was led by Patient Square Capital, which will take a controlling position in the business, with participation from additional investors including Rock Springs Capital, Reimagined Ventures and UCL Technology Fund.听听
Proceeds from the investment will support advancement of Apollo鈥檚 robust pipeline into development, expansion of the company鈥檚 operations including establishment of a presence in the Boston, MA area and pursuit of new collaborations globally.听
鈥淔ive years ago, Apollo鈥檚 innovative model was created by three world-leading universities Cambridge, Imperial College London and University College London forming a joint venture with global pharma partners AstraZeneca, GlaxoSmithKline and Johnson & Johnson Innovation to efficiently advance breakthrough discoveries that have the potential to be transformative treatments for patients,鈥� said听Dr.听Richard Mason, CEO of Apollo.听听
鈥淚n that time, Apollo has exceeded traditional growth benchmarks 鈥� rapidly building a pipeline of over 15 promising programs.听听
鈥淭here is significant opportunity ahead of us to bring new treatments to market as our lead programs move into clinical development.听听
鈥淲e will look to build on our existing collaborations, foster new relationships with additional top academics around the world and in-license drug candidates from new partners.鈥�听
Added Jim听Momtazee, Managing Partner of Patient Square and member of Apollo鈥檚 Board of Directors, added: 鈥淔or the past twenty years, I have pursued a thesis in therapeutics of backing outstanding teams and building multi-product portfolios in important areas of medicine.听听
鈥淧atient Square continues to be very enthusiastic about that business model. We are extremely excited to partner with the team at Apollo, as we see tremendous potential in their product portfolio and their novel partnership approach with three of the world鈥檚 top academic institutions pursuing some of the most innovative science globally.听听
鈥淲e look forward to working closely with the Apollo team to broaden their reach globally and to bring a number of potentially life-changing medicines to patients.鈥�