{"id":572,"date":"2023-03-30T23:26:11","date_gmt":"2023-03-31T04:26:11","guid":{"rendered":"https:\/\/arc-group.com\/apollomics-announces-closing-of-business-combination-and-listing-on-nasdaq\/"},"modified":"2025-01-23T11:57:05","modified_gmt":"2025-01-23T16:57:05","slug":"apollomics-announces-closing-of-business-combination-and-listing-on-nasdaq","status":"publish","type":"post","link":"https:\/\/arc-group.com\/apollomics-announces-closing-of-business-combination-and-listing-on-nasdaq\/","title":{"rendered":"Apollomics, Announces Closing of Business Combination and Listing on Nasdaq"},"content":{"rendered":"
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Apollomics\u2019 Class A ordinary shares and public warrants are expected to begin trading today\u00a0on the Nasdaq Capital Market under the ticker symbols \u2018APLM\u2019 and \u2018APLMW\u2019<\/h2>\n

FOSTER CITY, Calif., March 30, 2023 (GLOBE NEWSWIRE) —\u00a0Apollomics Inc.<\/u><\/a>\u00a0(\u201cApollomics\u201d or the \u201cCompany\u201d), a clinical-stage biopharmaceutical company developing multiple oncology drug candidates to address difficult-to-treat and treatment-resistant cancers, today announced the completion of its business combination (the \u201cBusiness Combination\u201d) with Maxpro Capital Acquisition Corp. (\u201cMaxpro\u201d, Nasdaq: JMAC). Apollomics\u2019 Class A ordinary shares and public warrants are expected to commence trading today, March 30, 2023, on the Nasdaq Capital Market (Nasdaq) under the symbols “APLM” and \u201cAPLMW,\u201d respectively. The Business Combination, which was approved by Maxpro\u2019s shareholders on March 20, 2023, along with a $23.65 million private investment in public equity (PIPE) financing raised in connection with the Business Combination, provides access to capital that is expected to enable the Company to advance its pipeline of drug candidates.<\/p>\n

Apollomics\u2019 mission is to improve treatment options for patients diagnosed with difficult-to-treat, high mortality cancers. Apollomics\u2019 pipeline includes nine novel oncology drug candidates, six of which are currently in clinical stage of development. By using targeted therapy, immuno-oncology agents, and other innovative approaches, Apollomics\u2019 novel drug candidates have the potential to address a range of cancers, including lung cancer, brain cancer, acute myeloid leukemia, and other solid tumors.<\/p>\n

Apollomics expects results from its global Phase 2 multi-cohort clinical trial of vebreltinib (APL-101), a highly specific cMet inhibitor, in non-small cell lung cancer and other solid tumors with cMet dysregulation, this year, which the Company believes may support its first new drug application with the U.S. Food and Drug Administration (FDA) while generating clinical data on other indications. Apollomics is also developing uproleselan (APL-106), an E-selectin inhibitor, in China as an adjunct to chemotherapy to enhance its anti-cancer effects for adult patients with relapsed or refractory acute myeloid leukemia. The FDA granted Breakthrough Therapy Designation to GlycoMimetics, Apollomics\u2019 collaboration partner in the United States, for uproleselan, and the China National Medical Products Administration (NMPA) designated it as a breakthrough therapy in China. The Company expects to complete patient recruitment of its Phase 3 study for uproleselan (APL-106) in China this year.<\/p>\n

\u201cBecoming a public company represents a major milestone in our journey to provide solutions for patients with difficult-to-treat cancers worldwide,\u201d said Dr. Guo-Liang Yu, Ph.D., Chairman and Chief Executive Officer of Apollomics. \u201cThe funds now available to us are expected to facilitate development of our oncology pipeline and further our mission to provide patients with effective therapies and hope.\u201d<\/p>\n

Moses Chen, Chief Executive Officer of Maxpro, said, \u201cWe are thrilled to have completed the Business Combination with Apollomics. We\u2019re confident that the Company\u2019s\u00a0cutting-edge drug candidates will deliver value to investors while advancing the Company\u2019s ability to provide treatment options for patients diagnosed with difficult-to-treat, high mortality cancers.\u201d<\/p>\n

Apollomics will continue to be led by Dr. Yu, a serial entrepreneur and pharmaceutical researcher with more than 300 patents, as its Chief Executive Officer and Chairman of the Board of Directors.<\/p>\n

The Apollomics executive leadership team will also consist of:<\/p>\n