Apellis raises $47.1M series D round

Apellis Pharmaceuticals Inc. (Crestwood, Ky.) raised $47.1 million in a series D round less than a week after it formally withdrew a proposed IPO on NASDAQ. Apellis is developing compounds that target complement 3 (C3) to treat autoimmune and inflammatory diseases, with two clinical-stage compstatin-derived small peptide C3 inhibitors.

New investors Cormorant Asset Management, Hillhouse Capital Group and venBio Global Strategic Fund co-led the round. Existing investors Morningside Venture Investments, AJU IB Investment and Epidarex Capital also participated. ...