Apogee secures up to 1.3 billion dollars for eczema drug
Apogee Therapeutics secured up to 1.3 billion dollars from Blackstone for its eczema drug. Shares fell as mid-stage trial results showed mixed performance.
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APOGEE THERAPEUTICS INC secured up to $1.3 billion from BLACKSTONE INC after mid-stage trial results for its eczema treatment zumilokibart. The drug achieved a 75% severity improvement in 65.9% of mid-dose patients, compared to 23.4% for the placebo group after 16 weeks. The capital allows Apogee to fund late-stage development without diluting shareholders through new equity offerings.
