UCL, Imperial College London and University of Cambridge are behind innovative industry university collaboration receiving £100m funding to rapidly advance cutting-edge science

On June 17, 2021 Apollo Therapeutics, a unique collaboration between three leading universities (University College London, Imperial College and University of Cambridge) and three global pharmaceutical companies (AstraZeneca, GlaxoSmithKline and Johnson & Johnson) set up in 2016 has received £100m in investment to further develop and translate early-stage science into clinical development for patient benefit(Press release, UCLB, JUN 17, 2021, View Source [SID1234584101]).

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In order to translate research in the most time and capital efficient way possible, Apollo Therapeutics has been set up as a portfolio-based biopharmaceutical company and has 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 to source new projects for further development.

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.