{"id":8529,"date":"2019-02-28T14:43:00","date_gmt":"2019-02-28T22:43:00","guid":{"rendered":"https:\/\/sfj-pharma.com\/?p=8529"},"modified":"2021-06-28T12:53:40","modified_gmt":"2021-06-28T20:53:40","slug":"apellis-lands-as-much-as-250m-in-financing-from-drug-development-company","status":"publish","type":"post","link":"https:\/\/www.sfj-pharma.com\/apellis-lands-as-much-as-250m-in-financing-from-drug-development-company\/","title":{"rendered":"Apellis lands as much as $250M in financing from drug development company"},"content":{"rendered":"
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By Chris Larson<\/a> \u00a0\u2013\u00a0<\/span> Reporter, Louisville Business First<\/div>\n
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Apellis Pharmaceuticals Inc. has reached a deal with a globally oriented drug development company that could give Apellis as much as $250 million in financing through what Apellis calls “a novel, risk-sharing collaboration.”<\/p>\n

Apellis, a Crestwood, Ky.-based clinical-stage biopharmaceutical company, said it has partnered with Pleasanton, Calif.-based SFJ Pharmaceuticals Inc. to support the development of Apellis’ signature treatment, APL-2, in rare blood and autoimmune disorders.<\/p>\n

SFJ Pharmaceuticals’ drug-development strategy involves partnering with pharmaceutical companies to co-develop new drugs by providing funding and clinical research support, according to a filing with the Securities and Exchange Commission from Apellis. SFJ Pharmaceuticals is supported by Blackstone Life Sciences, a division of New York City-based private-equity and financial-services firm The Blackstone Group, and London-based venture capital firm Abingworth LLP.<\/p>\n

The deal is the first time that SFJ Pharmaceuticals has partnered with a pre-revenue company, according to a news release. None of Apellis’ treatments have been approved for marketing by the Food and Drug Administration.<\/p>\n

Apellis CEO and co-founder Cedric Francois<\/a> said in an interview that SFJ Pharmaceuticals conducted extensive due diligence on Apellis’ business and research.<\/p>\n

“As a very young public company, we have to earn our stripes, and deals like this help us do that,” Francois said. “We are excited about collaborating with SFJ on our program in PNH.\u201d<\/p>\n

Apellis (Nasdaq: APLS) could receive as much as $170 million in financing from SFJ Pharmaceuticals for its research into paroxysmal nocturnal hemoglobinuria, or PNH, treatments. Here’s how that breaks down:<\/p>\n