Patient Square Capital has completed a $145 million financing round in Apollo Therapeutics, a portfolio-based biopharmaceutical company. Patient Square will take a controlling position in the business, with participation from additional investors including Rock Springs Capital, Reimagined Ventures and UCL Technology Fund.
“Five years ago, Apollo’s 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,” said Richard Mason, CEO of Apollo. “In that time, Apollo has exceeded traditional growth benchmarks – rapidly building a pipeline of over 15 promising programs. There is significant opportunity ahead of us to bring new treatments to market as our lead programs move into clinical development. We 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.”
Jim Momtazee, managing partner of Patient Square and member of Apollo’s Board of Directors, added, “For 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. Patient 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’s top academic institutions pursuing some of the most innovative science globally. We 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.”