Apellis Pharmaceuticals, Inc., a Louisville, Ky.-based clinical stage biopharmaceutical company, completed a $47.1m Series D financing.
The round was co-led by new investors Cormorant Asset Management, Hillhouse Capital Group and venBio Global Strategic Fund, which joined existing investors Morningside Venture Investments, AJU IB Investment, and Epidarex Capital.
The company intends to use the funds to further advance clinical trials in the ongoing complement immunotherapy programs.
Led by Cedric Francois, M.D., Ph.D., founder and Chief Executive Officer, Apellis focuses on the discovery and development of novel therapeutic compounds for autoimmune and inflammatory diseases. The company is developing product candidates that act against the complement system at the level of C3 to block effects of the complement cascade, regardless of the pathway by which complement has been activated. By inhibiting C3, the company’s product candidates may effect disease control and disease modification. Apellis has clinical programs to treat paroxysmal nocturnal hemoglobinuria (PNH) and geographic atrophy (GA), an advanced form of dry type age-related macular degeneration (AMD), as well as chronic obstructive pulmonary disease (COPD) and idiopathic pulmonary fibrosis (IPF).