Appili Therapeutics Inc., a Halifax, Canada-based biopharmaceutical company developing and commercializing anti-infective drugs, raised an additional $4.33m in financing.
This brings the total equity raised since its seed round in March 2016 to $11.81m. In addition, Appili will be receiving a $500k repayable contribution from the Government of Canada, through the Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program.
The private placement includes investments from new and current investors, including Innovacorp, Nova Scotia’s early-stage venture capital organization.
The company will use the funds to advance its anti-infective pipeline.
Led by Kevin Sullivan, CEO, Appili Therapeutics is advancing:
– ATI-1501, which uses Appili’s proprietary, taste-masked, oral suspension technology paired with metronidizole for pediatric and elderly patients with difficulty swallowing,
– ATI-1503, a drug discovery program aimed at generating negamycin analogue candidates, a novel class of antibiotic with broad spectrum activity against Gram-negative bacteria.
Via an in-licensing program, the company acquired the rights to ATI-1701, a vaccine for tularemia, removing risk from a weaponized bioterrorism pathogen.
Appili also has offices in Mississauga, Ontario.