SHANGHAI, March 31, 2023 /PRNewswire/ -- On March 30, 2023, Apollomics Inc. ("Apollomics"),
an innovative biopharmaceutical company and portfolio company
of Qiming Venture Partners, listed on Nasdaq through a SPAC merger
with Maxpro Capital Acquisition Corp. The combined company is now
traded under the symbol APLM with an issue price of $10.00/share and an opening price of
$18.60/share, up by 172% at closing
price on the first day, representing a market cap of $2.6 billion.
Qiming Venture Partners is one of the earliest investors of
Apollomics, accompanying the company growth since its Pre-A round.
Apollomics' IPO marks Qiming's 5th IPO since 2023.
Founded in 2015, Apollomics is committed to the discovery and
development of mono- and combination-oncology therapies for cancer
treatment. The company has built a pipeline includes nine novel
oncology drug candidates, six of which are currently in clinical
stage of development. By using targeted therapy, immuno-oncology
agents, and other innovative approaches, Apollomics' novel drug
candidates have the potential to address a range of cancers,
including lung cancer, brain cancer, acute myeloid leukemia, and
other solid tumors.
The company has achieved breakthroughs in recent years. In 2022,
the US FDA has granted Orphan Drug Designation to vebreltinib
(APL-101), a highly specific cMet inhibitor, in non-small cell lung
cancer and other solid tumors with cMet dysregulation. Apollomics
expects results from its global Phase 2 multi-cohort clinical trial
this year, which may support its first new drug application with
the US FDA while generating clinical data on other indications.
Apollomics is also developing uproleselan (APL-106), an
E-selectin inhibitor, in China as
an adjunct to chemotherapy to enhance its anti-cancer effects for
adult patients with relapsed or refractory acute myeloid leukemia.
Uproleselan (APL-106) has received Breakthrough Therapy Designation
by the US FDA and the China National Medical Products
Administration (NMPA). And the company expects to complete patient
recruitment of its Phase 3 study in China this year.
"Becoming a public company represents a major milestone in our
journey to provide solutions for patients with difficult-to-treat
cancers worldwide," said Dr. Guo-Liang
Yu, Ph.D., Chairman and Chief Executive Officer of
Apollomics. "The funds now available to us are expected to
facilitate development of our oncology pipeline and further our
mission to provide patients with effective therapies and
hope."
"Apollomics team has been working diligently to develop
innovative cancer therapies and has built an extensive pipeline. We
believe the successful IPO debut today will help the company
further expand clinical trials and invest in research and
development, continuously making groundbreaking strides in the
field of cancer treatment. The core value of innovative drugs is to
address unmet clinical needs, and Qiming will continue to focus on
this area, benefiting more patients worldwide." said Nisa Leung, Managing Partner of Qiming Venture
Partners.
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a
leading China venture capital firm with offices
in Shanghai, Beijing, Suzhou, Hong
Kong, Seattle, Boston and the San Francisco Bay
Area.
Currently, Qiming Venture Partners manages eleven US
Dollar funds and seven RMB funds with $9.4
billion in capital raised. Since our establishment, we have
invested in outstanding companies in the Technology and Consumer
(T&C) and Healthcare industries at the early and growth
stages.
Since our debut, we have backed over 480 fast-growing and
innovative companies. Over 180 of our portfolio companies have
achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai
Stock Exchange or Shenzhen Stock Exchange, or through M&A or by
other means. There are also over 70 portfolio companies that have
achieved unicorn status.
Many of our portfolio companies are today's most influential
firms in their respective sectors, including Xiaomi, Meituan,
Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals,
Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT
Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx,
Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief
BioMed, WeRide, Biren Technology and UBTech among many others.
View original
content:https://www.prnewswire.co.uk/news-releases/qiming-venture-partners-welcomes-apollomics-successful-ipo-on-nasdaq-301786975.html
