Epidarex Capital company, Apellis Pharmaceuticals, completes Initial Public Offering
Tuesday, November 14, 2017
Epidarex Capital (“Epidarex”), an early-stage, transatlantic life science venture fund, has announced the initial public offering (“IPO”) of its portfolio company Apellis Pharmaceuticals, Inc. (“Apellis”), a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system. Apellis began trading on the NASDAQ Global Select Market under the ticker symbol “APLS”. The offering has raised total gross proceeds of circa $150 million.
Epidarex and its predecessor fund, MASA Life Science Ventures, were among the company’s earliest backers, funding the development of the company’s core technology shortly after its spin-out from the University of Pennsylvania. Mr. Sinclair Dunlop, Co-founder and Managing Partner of Epidarex, having served on the Board of Directors since the initial investment, will continue in this role.
Apellis’ lead product candidate, APL-2, has the potential to be a best-in-class treatment that may address the limitations of existing treatment options or provide a treatment option where there currently is none. APL-2 has already shown clinically meaningful activity in clinical trials for two distinct medical conditions - geographic atrophy in age-related macular degeneration (GA) and paroxysmal nocturnal hemoglobinuria (PNH).
Epidarex is a leading investor in high growth life science and health technologies in under-ventured markets in the US and Europe. Mr. Dunlop of Epidarex said:
“Having been actively involved with Apellis since its early days, this an exciting milestone for the company. Apellis is a great example of Epidarex’s strategy of funding highly innovative, novel research at an early-stage.”