US biopharmaceutical firm Apollomics raises $124m led by Ping An Capital

Photo: Bloomberg

Apollomics, Inc., an incubator project by US healthcare fund manager OrbiMed Asia, announced on Friday that it has raised $124.2 million in a Series C round of financing led by China’s Ping An Insurance Group’s investment vehicle Ping An Capital and joined by a slew of undivulged new and existing investors.

As part of the deal, Ping An Capital’s Dr. Dong Liu joins Apollomics’s board of directors effective today, it said in a statement. Chinese new economy-focussed investment bank China Renaissance served as its financial advisor.

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