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
The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events, and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements, as well as those included in any related materials, are subject to risks, uncertainties and assumptions about the Company and/or its underlying investments, including, among other things, the development of the applicable entity’s business, trends in its operating industry, expected use of financing proceeds and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. The information contained in this announcement is given at the date of its publication (unless otherwise marked). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness.