Apogee Therapeutics Secures Up to $1.3 Billion Blackstone Financing for Zumilokibart

Apogee Therapeutics (APGE) said on May 27, 2026, it has reached an agreement with Blackstone for up to $1.3 billion in financing to fund the development of zumilokibart, its lead drug candidate for inflammatory diseases. The deal provides non-dilutive capital to advance the antibody through pivotal trials. The financing includes an upfront payment of $350 million and up to $950 million in milestone-based tranches tied to clinical and regulatory achievements, the company stated. Apogee expects the cash to extend its runway through key data readouts, including a Phase 3 program in atopic dermatitis slated to begin in 2027. Zumilokibart targets both IL-13 and IL-4 pathways, and Apogee aims to differentiate it with a potentially best-in-class efficacy and dosing profile against established biologic therapies. Shares of Apogee, which closed at $48.27 on Tuesday, were unchanged in premarket trading.