£100m boost to translate early-stage science into new transformative treatments
17 June 2021
Apollo Therapeutics, a unique collaboration between UCL, Imperial College and the University of Cambridge, and three global pharmaceutical companies, has attracted a further £100 million to develop and translate early-stage science into clinical development for patient benefit.
Established in 2015 with AstraZeneca, GlaxoSmithKline and Johnson & Johnson, Apollo Therapeutics was launched with £40 million funding, provided by the six partners.
In order to translate research in the most time and capital efficient way, Apollo Therapeutics has been set up as a portfolio-based biopharmaceutical company and has just completed a £100m Series A financing deal. The financing was led by Patient Square Capital, with participation from additional investors including UCL Technology Fund, Rock Springs Capital and Reimagined Ventures. Proceeds from the investment will support rapid advancement of the pipeline with over 15 therapeutic programs currently in development across oncology, major inflammatory disorders and rare disease. Apollo will continue to collaborate with UCL, University of Cambridge and Imperial College London to source new projects for further development.
Commenting on the investment, Professor David Price (UCL Vice-Provost Research, Innovation & Global Engagement) said: “Apollo Therapeutics is a shining example of how UK universities and industry are working together to rapidly advance potentially transformative treatments of serious diseases. The model is innovative and shaping translational science. The significant new financing opens up a new chapter for Apollo, with enormous potential to ensure more research can be commercialised at scale to improve the lives of millions worldwide.”
Apollo is grounded in research from UCL, Imperial College and University of Cambridge. The collaboration between the three universities and three pharmaceutical companies - AstraZeneca, GlaxoSmithKline and Johnson & Johnson is unique and is a capital efficient innovative way to ensure more research can be translated and commercialised at scale.
The three British universities are in the top 10 universities in the world and are at the forefront of developing basic and translational research including oncology, major inflammatory disorders and rare disease, that provides opportunities for drug discovery.
Apollo also secured its first out-licensing deal last summer from technology developed at UCL with Axovia, a company backed by Deerfield, another U.S. healthcare investment firm and with support from UCL Technology Fund.
Anne Lane, CEO, of UCL Business, UCL’s commercialisation company said: “Apollo’s business model, combining world class academia with leading global pharmaceutical partners, has allowed it to grow rapidly with the right investment. Patient Square Capital’s commitment, joined by other partners such as the UCL Technology Fund, is exciting and will enable Apollo to drive forward more breakthroughs through its pipeline and deliver greater patient benefit quicker. Whether it’s new research, or new licensing deals, the latest financing will enable Apollo to continue to advance drug discovery across many different therapy areas. UCLB and the leading UCL researchers we support are excited to be a partner in Apollo as it grows globally, reaching more people and ultimately, benefitting more patients.”
- UCL Innovation & Enterprise
- Office of the UCL Vice-Provost (Research, Innovation & Global Engagement)
- ‘Woman doing research while holding equipment’, credit National Cancer Institute on Unsplash, CC BY 2.0
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Email: h.killworth [at] ucl.ac.uk