New investment in Apogee Therapeutics
News

New investment in Apogee Therapeutics

Published
  • RTW Venture Fund Limited announces a new portfolio company, Apogee Therapeutics

  • The proceeds from the Series B financing round are intended to support Apogee’s pipeline of potentially best-in-class therapies for immunological and inflammatory disorders

  • Apogee, a first spin-out of Paragon Therapeutics, plans to advance its lead pipeline program, APG77, into the clinic in 2023

RTW Venture Fund Limited (the “Company”), a London Stock Exchange-listed investment fund focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to note the announcement by Apogee Therapeutics, LLC (“Apogee”) on 7 December 2022 of its completion of a $149M Series B financing round.

The Company, alongside other investment vehicles of RTW Investments, LP (the “Investment Manager”), confirms that it participated in the Series B financing round together with other investors.

Apogee is a privately held pre-clinical stage biotech advancing potentially best-in-class therapies for immunological and inflammatory disorders. The company is building a pipeline of product candidates targeting clinically validated biology and well-established development pathways. Through a strategic partnership with Paragon Therapeutics, Apogee has the option for exclusive development and commercial rights to a suite of antibodies which have been specifically engineered to target immunological and inflammatory disorders.  Its lead program, APG777, is expected to enter clinical trials in 2023.

Joshua Kennedy-Smith, PhD, Managing Director at the Investment Manager, will participate in meetings of Apogee’s board of directors in an observer capacity. He said: 

“We are excited to co-lead Apogee’s Series B financing and to support its efforts to develop potentially best-in-class immunological therapies. The addition of Apogee to RTW Venture Fund’s portfolio further expands our focus on inflammatory disease with high unmet need and investing in innovative therapeutic modalities.”

The Investment Manager is looking forward to growing the Company’s investment pipeline and updating shareholders on further investments by the Company in due course.

To view Apogee Therapeutics official press release please visit apogeetherepeutics.com

 

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For further information

Woody Stileman

Managing Director, RTW Investments, LP

Charles Ryland, Henry Wilson and George Beale

Buchanan

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