Apollomics, Inc. Closes $124 Million Series C Financing
- Financing led by Ping An Capital -
- Phase 2 SPARTA Trial for APL-101 Now Enrolling -
- Phase 3 Clinical Trial to begin in China for APL-106 (Uproleselan) -
FOSTER CITY, Calif. and HANGZHOU, China, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Apollomics, Inc., an innovative biopharmaceutical company committed to the discovery and development of oncology combination therapies, today announced the completion of a $124.2 million Series C Financing led by Ping An Capital with participation from several new and existing investors. Dong Liu, PhD nominated by Ping An Capital will also join the Apollomics Board of Directors effective today.
Proceeds from the Series C financing will support the development of the Apollomics pipeline with a focus on the Company’s lead programs: APL-101 and APL-106. APL-101 is a novel, orally administered, selective c-MET inhibitor currently enrolling an international multicenter, Phase 2 portion of a combined Phase 1/2 clinical trial, titled SPARTA. APL-106 (uproleselan) is a first-in-class, targeted E-selectin antagonist that has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) in relapsed and refractory acute myeloid leukemia. Apollomics is actively planning to initiate a Phase 1 PK study and, in parallel, a Phase 3 bridging clinical trial in China.
“Apollomics is focused on a precision medicine approach that targets specific mutations, amplifications and resistance mechanisms to bring transformative therapies to cancer patients,” said Guo-Liang Yu, PhD, Co-Founder, Chairman and Chief Executive Officer. “We appreciate the profound level of support and interest we received during this financing and welcome several new investors to our shareholder base. With this infusion of capital, we will continue our ambitious plans to progress our current pipeline and expand our programs globally.”
Sanjeev Redkar, PhD, Co-Founder and President, added, “Since our founding in 2016, we have established a broad portfolio of single agent and combination programs through our internal research efforts and strategic collaborations. In conjunction with our partners, we now have six assets in over ten clinical trials in the U.S. and China. We are pleased with the progress we have made thus far and expect to maintain this momentum going forward as our pipeline evolves.”
About Apollomics, Inc.
Apollomics, Inc., incubated by OrbiMed Asia at inception, is an innovative biopharmaceutical company committed to the discovery and development of oncology mono- and combination- therapies that harness the immune system and target specific molecular pathways to eradicate cancer. The company’s existing pipeline consists of several development-stage assets including novel, humanized monoclonal antibodies that restore the body’s immune system to recognize and kill cancer cells, and targeted therapies against uncontrolled growth signaling pathways. For more information, please visit www.apollomicsinc.com.
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