# Apitope Technology (Bristol)

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/apitope-technology-bristol

- Industry: Biotechnology
- Headquarters: UK
- Website: www.apitope.com
- Total disclosed funding: $28M
- Latest round: Series B (Sep 29, 2015)
- Investors on record: 4

## About

Apitope International is a UK-based biotechnology company specializing in the development of innovative peptide-based immunotherapeutic solutions aimed at treating autoimmune diseases and allergies.Founded in 2002, Apitope International focuses on creating immunotherapeutic products designed to address autoimmune disorders. The company has undergone a strategic pivot in its operations and was acquired in December 2021 by Worg, a portfolio company of Kaitai Capital, Junson Capital, and Puhua Capital. The acquisition aimed to broaden Worg's offerings through Apitope's treatments for autoimmune diseases. Apitope's headquarters is located in Bristol, UK, where it operates as a subsidiary. David Wraith is noted as the founder, while Keith Martin serves as the CEO. The company has conducted a total of 4 deals, the latest being a Series B round on August 18, 2021, which raised EUR 12.000 mn from investors including LRM, PMV - ParticipatieMaatschappij Vlaanderen NV, and Vesalius Biocapital, summing the total amount raised to EUR 12.000 mn.Apitope specializes in innovative therapeutic solutions focused on peptide-based treatments. Their proprietary immunotherapeutic products are designed to modulate immune responses, particularly for conditions such as Multiple Sclerosis and Type 1 Diabetes. These therapies aim to provide targeted treatments while minimizing side effects, marketed mainly to healthcare providers, hospitals, and specialty clinics across Europe and North America, especially in regions with high prevalence of autoimmune disorders.In 2010, Apitope reported a revenue of EUR 2,006,447.90, with an EBITDA of EUR -923,306.10 for the same year. The company's revenue model includes strategic partnerships and licensing agreements with pharmaceutical companies, where income is generated through milestone payments and royalties as their therapies advance through clinical trials.Apitope plans to utilize its latest funding from the Series B round to enhance its product development pipeline and facilitate the launch of new therapies aimed at treating autoimmune diseases. The company aims to expand its market presence into new regions, particularly targeting additional European and North American markets by 2023. The acquisition by Worg is expected to support these initiatives by integrating Apitope's capabilities into Worg's broader therapeutic offerings. Apitope's strategic focus will remain on advancing its innovative peptide-based treatments and fulfilling critical unmet medical needs in the biotech sector.

## Funding rounds

- Series B, Sep 29, 2015, $13M — LRM, Vesalius Biocapital, PMV
- Series A, Oct 22, 2008, $14M — LRM, Vesalius Biocapital, PMV, Hasselt University

## Investors

- LRM (https://capitalatlas.ai/funds/lrm) — Series A, Series B
- Vesalius Biocapital (https://capitalatlas.ai/funds/vesalius-biocapital) — Series A, Series B
- PMV (https://capitalatlas.ai/funds/pmv) — Series A, Series B
- Hasselt University — Series A