Apellis grabs $60M to pay for a looming PhIII showdown with Alexion's Soliris
Backing up data from small but promising studies for their rival therapy to Soliris, Louisville-based Apellis has rounded up a $60 million round to pay for a late-stage showdown with Alexion $ALXN.
Having tried and failed to pull off an IPO in chilly market waters, this E round includes some top venture players — who may be recalculating the biotech’s shot at a repeat effort on the IPO front. Sectoral Asset Management led the round with Sofinnova, Vivo Capital, F-Prime Capital Partners, certain investment funds advised by Clough Capital Partners, and venBio Select joining as new investors. Existing investors Morningside Ventures, Cormorant Asset Management, venBio Global Strategic Fund, and Epidarex Capital also participated in the financing.
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