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CBT Pharmaceuticals rebrands to Apollomics, raises $100M for cancer programs

CBT Pharmaceuticals Inc., which will now be called Apollomics Inc., has raised about $100 million in a Series B financing for its cancer drug programs and the exploration of new treatment areas.

The company also announced the corporate name change, which President Sanjeev Redkar said in a Jan. 7 press release is in line with its efforts to eradicate cancer.

China Merchants Bank Co. Ltd. unit CMB International led the funding round, which also included existing investor OrbiMed Asia and some new investors. In line with the fundraising, Kexiang Zhou, the managing director of CMB International, has been appointed to the Apollomics board.

Apollomics, which develops medicines that target the growth of cancer cells, plans to relocate its headquarters to Foster City, Calif., to help with its U.S. expansion.