Epidarex Capital, an early-stage, transatlantic life science venture fund, is pleased to announce the initial public offering of its portfolio company Apellis Pharmaceuticals, Inc., 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" on November 9th. 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, 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 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. 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."
About Epidarex Capital
Epidarex invests in early-stage, high growth life science and health technology companies in under-ventured markets in the US and Europe. Epidarex builds successful companies from world-class medical research to achieve commercial, patient-driven success. Epidarex has a track record of successfully partnering with scientists and entrepreneurs to develop highly innovative products for the global healthcare market. www.epidarex.com
About Apellis Pharmaceuticals
Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. www.apellis.com