Apollomics Unveils Private Placement Financing and Board Addition

Apollomics Inc., a clinical-stage biopharmaceutical firm specializing in oncology therapies, has announced a significant development in its financial and leadership structure. The company, based in Foster City, California, disclosed on May 8, 2024, that it has entered into subscription agreements for a private investment in public equity (PIPE) financing. This financing initiative is projected to yield approximately $6 million in gross proceeds before deducting associated expenses. Both new and existing investors participated in this financing round.

The terms of the subscription agreements dictate that Apollomics will sell a total of 19,166,666 Class A ordinary shares at a price of $0.30 per share. The completion of this PIPE financing is anticipated on May 8, 2024, contingent upon the fulfillment of standard closing conditions. The net proceeds from this financing, combined with Apollomics' current cash, cash equivalents, and marketable securities, will be allocated to support the company's pipeline programs, as well as general corporate purposes and working capital needs.

In conjunction with this financial update, Apollomics also announced a key change in its board of directors. Dr. Robert (Bob) Lin, M.D., Ph.D., has been appointed to the board. Dr. Lin is a seasoned physician and researcher with extensive experience in conducting multinational clinical trials, genomics, proteomics, and biotechnology transactions. His notable career includes serving as the vice director of the Internal Medicine Department at a major medical center in Taiwan and conducting post-doctoral research at the Lawrence Berkeley Laboratory in the United States. Concurrently, Jonathan Wang, Ph.D., has resigned from the board for personal reasons.

Dr. Guo-Liang Yu, Ph.D., Chairman and Chief Executive Officer of Apollomics, welcomed Dr. Lin to the board, highlighting his valuable medical and biotech experience. Dr. Yu also expressed gratitude to Dr. Wang for his significant contributions and leadership over the past eight years and wished him well in his future endeavors.

Canaccord Genuity is serving as the financial advisor for Apollomics in the PIPE financing process.

Apollomics clarified that the offer and sale of these securities are being executed in a private transaction, not involving a public offering. The securities have not been registered under the Securities Act of 1933 and cannot be resold in the United States without an effective registration statement or an applicable exemption from registration requirements. The company has agreed to file a registration statement with the Securities and Exchange Commission (SEC) to facilitate the resale of the Class A ordinary shares involved in the PIPE financing.

Apollomics Inc. is dedicated to advancing oncology therapies that can potentially be used in combination with other treatments to target specific molecular pathways and engage the immune system to fight cancer. The company's pipeline includes nine drug candidates spread across multiple programs, with six currently in the clinical development stage. Among its leading programs are vebreltinib (APL-101), a selective c-Met inhibitor for treating non-small cell lung cancer and other advanced tumors with c-Met alterations, and uproleselan (APL-106), an E-Selectin antagonist aimed at enhancing standard chemotherapy for acute myeloid leukemia.