Apollo Therapeutics, a Cambridge-based biopharmaceutical startup, has received investment. In December, it closed the second closing of its Series C round with an additional $33.5 million. This brings the total funds raised by the company to $260 million. The round was led by Patient Square Capital. It included participation from numerous new investors, including M&G plc and two of the largest public pension plans in the US, and existing investors, including Rock Springs Capital.
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Apollo Therapeutics is a Biopharmaceutical Company Focused on Transforming Basic Medical Research into Medicines
Apollo Therapeutics plans to use the new funds to advance its pipeline programs through clinical development. It also plans to use it to provide additional funding for drug discovery and development activities based on breakthroughs in basic medical research at its partner institutions. In addition, it will license or acquire additional clinical stage programs that meet its strict selection criteria.
Apollo Therapeutics, led by CEO Richard Mason, is a biopharmaceutical company focused on translating basic medical research into medicines. Its portfolio model uses a 'hub-and-spoke' approach where the core team oversees capital allocation and experts in various areas such as pharmaceutical research, manufacturing, commercial strategy, fundraising and business development.
What are the advantages of this model, which combines the best practices of big pharma and venture capital? Greater focus at the individual asset level, access to centralized expertise and scaling capabilities, operational efficiencies and attracting the best talent to both centralized management. It will also, the company claims, provide flexibility in both capital financing and ways of accessing liquidity. It also claims that it will attract a broader investor base by providing risk mitigation through a diversified portfolio of uncorrelated risk.
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