Waltham Biotech Company Gets Big Financial Boost To Develop Eczema Drug: Report

WALTHAM, MA — A biotech company based in Waltham, Apogee Therapeutics, has received an infusion of $1.3 billion from the giant investment firm Blackstone Group.

The deal with Blackstone’s life sciences division will support further development and possible commercialization of Apogee’s experimental treatment for eczema, the Boston Business Journal reported Wednesday.

Under the agreement, Blackstone will receive royalties from sales of the drug. Apogee says the financing will allow it to continue development work without having to sell equity.

The company employs about 260 people, and is headquartered at 221 Crescent St.

You can read the BBJ coverage here.

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