FOSTER CITY, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- Apollomics Inc. (NASDAQ:APLM), a clinical-stage biopharmaceutical company developing multiple oncology drug candidates to address difficult-to-treat and treatment-resistant cancers, today announced that it entered into subscription agreements for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $6 million to the Company, before deducting offering expenses. The PIPE financing included participation from both new and existing investors. Pursuant to the terms of the subscription agreements, Apollomics is selling an aggregate of 19,166,666 Class A ordinary shares at a price of $0.30 per share. The PIPE financing is expected to close on May 8, 2024, subject to satisfaction of customary closing conditions. Apollomics intends to use the net proceeds from the PIPE financing, together with the Apollomics' existing cash, cash equivalents, and marketable securities, to fund its pipeline programs, and for general corporate purposes and working capital. Apollomics also announced today the appointment of Dr. Robert (Bob) Lin, M.D., Ph.D. to the board of directors of Apollomics. Dr. Lin is a physician and researcher who has conducted multinational clinical trials and is experienced in genomics, proteomics and biotech transactions. Dr. Lin has served as the vice director of the Internal Medicine Department at a tertiary medical center in Taiwan and conducted post-doctoral research at Lawrence Berkeley Laboratory in the United States. In addition, Jonathan Wang, Ph.D. has resigned from the board of directors, due to personal reasons. "On behalf of Apollomics, we welcome Dr. Lin to the company. He brings valuable medical and biotech experience to our Board," said Dr. Guo-Liang Yu, Ph.D., Chairman and Chief Executive Officer of Apollomics. ...