Apollomics, Inc. (fka CBT Pharmaceuticals, Inc.), a Foster City, CA-based innovative biopharmaceutical company committed to the discovery and development of oncology combination therapies, raised $100m in a Series B financing.
The round was led by CMB International, a subsidiary of China Merchants Bank, with participation from existing investor OrbiMed Asia, and several new investors. In conjunction with the financing, Apollomics has added Kexiang Zhou, M.D., Managing Director, CMBI to its Board of Directors.
The company intends to use the funds to accelerate growth with a focus on advancing multiple oncology programs, exploring new treatment areas, increasing the pipeline of assets, and adding the necessary talent and infrastructure to support these programs.
Led by Guo-Liang Yu, PhD, Apollomics CEO and OrbiMed Venture Partner, and Sanjeev Redkar, PhD, President, Apollomics is an innovative biopharmaceutical company committed to the discovery and development of oncology combination therapies that harness the immune system and target specific molecular pathways to eradicate cancer. The company’s existing pipeline consists of six development-stage assets including three novel, humanized monoclonal antibodies that restore the body’s immune system to recognize and kill cancer cells, and three targeted therapies against uncontrolled growth signaling pathways. .
Apollomics was incubated by OrbiMed Asia at inception. In 2018, the company established its presence in Hangzhou, China to build a state-of-the-art research and development facility as well as manufacturing capabilities to advance its pipeline programs in China and the rest of the world.