RTW was a co-lead in a $149m Series B financing round for Apogee Therapeutics, LLC, a biotechnology company focused on immunological and inflammatory disorders. RTW Venture participated in the fundraise but we have not been not told what its contribution was.
Proceeds from the financing will be used to support Apogee’s plans to advance its lead pipeline program into the clinic in 2023 and expand its leadership, scientific, and clinical teams.
The Series B financing was co-led by Deep Track Capital and RTW Investments, LP. Other new investors include funds and accounts advised by Fidelity Management & Research Company, OrbiMed, Perceptive Xontogeny Ventures Fund II, RA Capital Management, and Wellington Management. Founding investors, Fairmount and Venrock Healthcare Capital Partners, also participated in the oversubscribed Series B financing.
Through a strategic partnership with Paragon Therapeutics, Apogee has the option for exclusive development and commercial rights to a suite of top-tier antibodies which have been specifically engineered to target some of the largest and highest unmet needs facing people with immunological and inflammatory disorders. Apogee intends to file at least one Investigational New Drug (IND) application with the US Food and Drug Administration (FDA) each year over the next three years, beginning in 2023, and anticipates providing additional information on its four pipeline programs next year.
Based in San Francisco, Calif., Apogee was founded in 2022 by Fairmount and Venrock Healthcare Capital Partners and is backed by leading healthcare investors. To learn more visit www.apogeetherapeutics.com.
RTW : RTW Venture backs Apogee