Apollo’s Next Steps: Apply Learnings From Prior Hub-And-Spoke Entities
Apollo’s $145m financing will help advance its 15-plus candidate portfolio into clinical development. With Patient Square leading the round, its expertise with BridgeBio and co. will help guide Apollo’s evolution.
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A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.
Private Company Edition: Patient Square’s private equity fund, which surpassed its $3bn fundraising goal, may invest broadly across health care but the firm already has invested heavily in biopharma. Also, investor Dimension launches with a $350m specialized VC fund and Alto increased its series B to $60m.
Although small patient base offers modest revenue opportunity, the Nulibry approval enables BridgeBio to get commercial operations underway.