Apollo Therapeutics closes $226.5 million series C financing

We have advised in relation to the $226.5 million series C fundraising of Apollo Therapeutics Limited, a Cambridge headquartered biopharmaceutical company progressing transformative treatments based on breakthrough discoveries. 

Led by Patient Square Capital and with participation by new and existing investors including M&G plc, Rock Springs Capital, and two of the largest US public pension plans, the financing significantly adds to the $195 million previously raised by the company.

With this financing, Apollo aims to advance pipeline programs through clinical development and further fund the company’s drug discovery and development activities based on breakthroughs in basic medical research made at its partner institutions, which include The University of Cambridge, Imperial College London, University College London, King’s College London, and The Institute of Cancer Research. 

In 2021, we advised Apollo on its $145 million financing to support the advancement of its pipeline into clinical development, expansion of operations in the UK and US, and the pursuit of new collaborations with academic researchers across the globe.

Commenting on the transaction, Corporate Partner Andrew Edge said: "Last year, the UK biotech and life science sector raised £1.785 billion. In this context, Apollo's fundraise of $226.5 million is particularly impressive and will be a very significant proportion of the entire amount raised in the UK this year in the sector. It is always great to assist a company that continues to push forward innovation in the Life Sciences. We look forward to working again with the Apollo team as the company continues its ground-breaking journey."

Our team was led by corporate partners Andrew Edge and Howard Palmer, assisted by senior counsel Oli Denne, associates Nell Cooper and Nadege Serna and corporate paralegal Savannah Swale. Partner Colin McCall and senior associate Charlie Adams advised on intellectual property matters and partner Liz Wilson and associate Freddie Knottenbelt advised on tax.