Strategic Financing Collaboration Supports Development of Atopic Dermatitis Treatment

A strategic financing collaboration will support the continued development and potential commercialization of zumilokibart, initially developed for the treatment of atopic dermatitis.

Ropes & Gray advised Blackstone Life Sciences in its collaboration with Apogee Therapeutics, Inc., providing Apogee with up to $1.3 billion in flexible, nondilutive total capital.

Under the agreement, Blackstone will provide up to $800 million of synthetic royalty funding, with access to up to $500 million of senior debt available at the mutual consent of Apogee and Blackstone.

The Ropes & Gray team was led by life sciences licensing partner Abigail Gregor and associate James Gould, with support from IP transactions partner Melissa Rones, private equity partner Milap Patel, business restructuring partner Cristine Pirro Schwarzman Schwarzman, and IP transactions counsel Ryan Murphey.

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