Apollo Therapeutics Closes $226.5 Million Series C Financing Led by Patient Square Capital

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 the close of $226.5 million in a Series C financing led by lead investor Patient Square Capital.

Highlights:

• $226.5m million raised.
• Financing led by Patient Square Capital.
• Participation by multiple new investors including M&G plc and two of the largest US public pension plans, along with existing investor Rock Springs Capital.
• Financing significantly adds to the $195 million previously raised by the Company.
• Apollo’s broad and diversified pipeline currently consists of over 20 programs with multiple near and medium-term value catalysts and uncorrelated risk.
• Proceeds will be 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) licence or acquire additional clinical stage programs that meet strict selection criteria.
• Apollo has a scalable R&D platform for the evergreen discovery and development of new medicines. Program selection is agnostic to indication and primarily driven by quality of science and the potential to transform the standard of care in major commercial markets. This is enabled by an unprecedented level of access to world-class research institutions through unique partnership agreements.
  • Current partner institutions are: The University of Cambridge, Imperial College London, University College London, King’s 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.” said Dr. Richard Mason, Chief Executive Officer of Apollo Therapeutics. “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.”

“I have long believed in a business model for drug development characterized by extremely talented management, sufficient capital to pursue multiple programs and world-class science focused on unmet medical need. We are proud to support Apollo Therapeutics as it develops a number of promising medicines that we anticipate will eventually transform patient care.” commented Jim Momtazee, Managing Partner of Patient Square Capital, and member of Apollo Therapeutic’s Board of Directors.

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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. Backed by leading specialist health care investors, Apollo has operations in Cambridge, U.K., and Boston and Chicago, U.S. 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 $6.5 billion in assets under management as of June 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.

Investor Contact for Apollo Therapeutics
Jamie Heath, Chief Financial Officer
Jamie.Heath@apollotx.com

Media Contact for Apollo Therapeutics
Ben Atwell / Simon Conway / Alex Davis – UK
Jim Polson / Matt Ventimiglia – US
FTI Consulting
ApolloTherapeutics@fticonsulting.com
+44 (0) 20 3727 1000 – UK +1 (212) 850 2654 – US

Media Contact for Patient Square Capital
Zach Kouwe / Doug Allen
Dukas Linden Public Relations
patientsquare@dlpr.com
+1 (212) 704 7385