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Apogee Therapeutics Announces $1.3 Billion Strategic Financing Collaboration with Blackstone Life Sciences to Advance Phase 3 Development and Commercialization of Zumilokibart
Apogee Therapeutics Announces $1.3 Billion Strategic Financing Collaboration with Blackstone Life Sciences to Advance Phase 3 Development and Commercialization of Zumilokibart
About this update from Apogee Therapeutics, Inc.
[{"type":"text","content":"Up to $1.3 billion in flexible, non-dilutive capital, including up to $800 million of synthetic royalty and access of up to $500 million in senior corporate debt Combined with company's current total cash of $1.3 billion, this transaction positions Apogee to achieve a self-sustainable financial profile through commercialization of zumilokibart without need for future equity financing Apogee to host webcast with the APEX Phase 2 Part B results today at 8:00 a.m. Eastern Time SAN FRANCISCO and BOSTON, May 27, 2026 (GLOBE NEWSWIRE) -- Apogee Therapeutics, Inc. (Nasdaq: APGE), a clinical-stage biotechnology company advancing optimized, novel biologics with the potential for best-in-class profiles in the largest inflammatory and immunology (I&I) markets, today announced that it has entered into a strategic financing collaboration with funds managed by Blackstone Life Sciences (“Blackstone”) for up to $1.3 billion in flexible, non-dilutive total capital to support the continued development and potential commercialization of zumilokibart. “Our partnership with Blackstone Life Sciences represents a major milestone in the advancement of zumilokibart as the next meaningful first line therapy for moderate-to-severe atopic dermatitis,” said Michael Henderson, M.D., Chief Executive Officer of Apogee Therapeutics. “This collaboration provides non-dilutive flexible funding at an attractive cost of capital for the late-stage development of zumilokibart and establishes a path to commercialization and profitability for Apogee. As supported by our Apex Part B data announced today, we believe zumilokibart has the potential to be a transformative therapy for patients with differentiated efficacy and dosing in atopic dermatitis and other large I&I indications.” “We are excited to support Apogee's advancement of zumilokibart through Phase 3 development and potential commercialization,” said Dr. Nicholas Galakatos, Global Head of Blackstone Life Sciences. “Our collaboration with Apogee is a great example of our strategy to provide leading biotechnology companies with non-dilutive financing at scale and the resources and flexibility to further scientific innovation and invest in the advancement of their pipelines.\" Added Kiran Reddy, M.D., Senior Managing Director, Blackstone Life Sciences, \"This is the largest royalty financing for a pre-Phase 3 prog...