Apellis Pharmaceuticals Raises $33M

Apelleis Pharmaceuticals, Inc. , a leading biotechnological company applying immunotherapy to autoimmune disease, today announced that it has completed a $33M private placement of its Series C Preferred Stock The funding was led by Morningside Ventures and AJU IB Investment Co. Uh, Ltd. Participation of Epidarex Ventures with follow-up funding The proceeds will be used to fund three additional immunotherapy programs entering the clinical proof-of-concept phase.

The first indication is paroxysmal nocturnal hemoglobinuria (PNH), a rare bone marrow disease. Apellis’ drug candidate APL-2, a supplement C3 inhibitor, is designed to provide an alternative to the current standard of care for PNH patients. In its second program, Apellis is testing whether APL-1, another C3 supplement inhibitor, can affect the underlying mechanism of COPD disease and slow disease progression. Finally, the third program of Apellis aims to reduce the growth of retinal lesions through intravitreal injection of APL-2 in patients suffering from geographical atrophy, an advanced form of dry age-related macular degeneration (AMD) for which no treatment is available. All three complementary immunotherapy programs focus on the potential of complement inhibition to correct pathogenic Th17 immune responses.

Cedric Francois, MD, PhD and CEO of Apellis said, “We are excited to test the immense potential of complement immunotherapy. Our clinical programs are designed to be implemented in a short period of development, with a robust regulatory strategy, innovative clinical designs and product profiles that could change the lives of millions of patients affected by autoimmunity. ‘Apellis Chairman Gerald Chan, co-founder of Morningside, said, ‘Morningside was an early investor in cancer immunotherapy. Autoimmune conditions are the next frontier for immunotherapy Instead of suppressing the immune system, we should aim to correct its improper behavior ”

About Apellis:

Apellis is a clinical stage immunotherapy company that focuses on complementary pathways to correct autoimmune conditions. Apellis will further explore the interface between complement and adaptive immunity in a variety of indications, including paroxysmal nocturnal hemoglobinuria (PNH), chronic obstructive pulmonary disease (COPD) and AMD, as well as graft-versus-host disease (GvHD), ABO-incompatible transplantation, periodontitis and ischemia reperfusion injuries. For more information, please visit Oh, apellis Com