---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-153429"
form_type: "8-K"
ticker: "APLS"
cik: "0001492422"
company_name: "Apellis Pharmaceuticals, Inc."
filed_at: "2025-07-01T23:59:59+00:00"
generated_at: "2026-05-18T09:56:52.922958+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Apellis enters $275M royalty buy-down with Sobi; reduces Aspaveli royalties 90%

## Summary
- Sobi pays Apellis $275M upfront; up to $25M more on EMA approval of Aspaveli for C3G and IC-MPGN.
- Royalty obligations under Collaboration Agreement reduced by 90% from closing, subject to cap of 1.45x payments made.
- Sixth Street lenders consent to deal; Apellis extends prepayment premium periods on credit facility by one year.

## SEC filing metadata
- accession: 0001193125-25-153429
- form_type: 8-K
- ticker: APLS
- cik: 0001492422
- company_name: Apellis Pharmaceuticals, Inc.
- filed_at: 2025-07-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492422/000119312525153429/0001193125-25-153429-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492422/000119312525153429/d940210d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-153429
- JSON: https://secwatch.observer/filing/0001193125-25-153429.json
- Plain text: https://secwatch.observer/filing/0001193125-25-153429.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.