Appili Therapeutics Inc., a Halifax, Nova Scotia, Canada-based anti-infective drug development company, raised $3.06 in funding.
Backers included Innovacorp, Nova Scotia’s early stage venture capital organization, among others.
The company intends to use the funds to expand operations and to advance its pipeline of anti-infectives and move its lead antibiotic, a taste-masked treatment for anaerobic infections, into the clinic.
Led by Kimberly Stephens, CFO, Kevin Sullivan, CEO, Appili Therapeutics is dedicated to identifying, acquiring and advancing novel therapeutics for infectious disease. The company has two anti-infective programs, ATI-1501 and ATI-1503, in its pipeline.
ATI-1501 is a taste-masked treatment for anaerobic infections that has been granted orphan drug status by the FDA. Appili plans to take ATI-1501 into clinical trials in 2017.
The second product, ATI-1503, is a novel antibiotic with broad potential to treat deadly Gram-negative infections.