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UCL collaborative venture attracts £100 million to translate early-stage science into treatments
17 June 2021
Apollo Therapeutics has secured £100 million to develop transformative new treatments. The biopharma company was set up by UCL, Imperial College London, University of Cambridge and three global pharma companies.
Launched in 2016, as a collaboration with AstraZeneca, GlaxoSmithKline and Johnson & Johnson, Apollo Therapeutics began with £40 million in funding, provided by the six partners.
This new investment will support over 15 therapeutic programmes, to develop treatments for patients across oncology, major inflammatory disorders and rare diseases. 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.”
Anne Lane, CEO of UCL Business, said: “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.”
UCLB is the commercialisation arm of UCL and part of UCL Innovation & Enterprise.
Read the full story on the UCL news website.
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Photo by National Cancer Institute on Unsplash