Appili Therapeutics Inc., a Halifax, Nova Scotia, Canada-based anti-infective pharmaceutical development company, raised $3.2m in seed funding.
Backers included a number of private investors ($1.7m), Innovacorp ($500k), The Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA) and National Research Council Canada Industrial Research Assistance Program ($1m).
The company intends to use the funds to advance the research and development of its anti-infective drug candidates and open a medicinal chemistry lab in Halifax.
Led by 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 Clostridium difficile infection, has just been granted orphan drug designation by the FDA and Appili plans to take it into clinical trials in 2017. ATI-1503 is a novel antibiotic with broad potential to treat deadly Gram-negative infections such as Klebsiella pneumoniae.