Universities, pharma companies launch £40 million Apollo Therapeutics Fund

Three global pharmaceutical companies (AstraZeneca, GlaxoSmithKline, Johnson & Johnson Innovation) and the technology transfer offices of three world-leading universities (Imperial College London, University of Cambridge and UCL) have joined forces with a combined £40 million to create the Apollo Therapeutics Fund ('Apollo'). Unique collaboration between AstraZeneca, GlaxoSmithKline, Johnson & Johnson Innovation and the technology transfer offices of Imperial College London, UCL (University College London) and the University of Cambridge, to drive forward therapeutic innovation £40 million Apollo Therapeutics Fund aims to significantly improve the speed and potential of university research being translated into novel medicine First time global pharmaceutical companies and world-leading universities have created this type of fund This pioneering new joint venture will support the translation of ground-breaking academic science from within these universities into innovative new medicines for a broad range of diseases. Each of the three industry partner companies (AstraZeneca UK Limited, Glaxo Group Limited and Johnson & Johnson Innovation-JJDC, Inc.) will contribute £10 million over 6 years to the venture. The technology transfer offices (TTOs) of the three university partners - Imperial Innovations Group plc, Cambridge Enterprise Ltd Limited and UCL Business PLC - will each contribute a further £3.3 million. The aim of Apollo is to advance academic preclinical research from these universities to a stage at which it can either be taken forward by one of the industry partners following an internal bidding process or be out-licensed.