See original story here Halifax drug discovery company Appili Therapeutics Inc., has raised $4.3 million in equity financing to further its operations and add to its number of drug candidates. The company said in a press release it raised the money through a private placement, which was over-subscribed. It received money from new and existing investors, including Innovacorp, Nova Scotia’s innovation and venture capital organization. Appili, which previously has raised money with the help of the Toronto investment boutique Bloom Burton & Co., said it has now raised a total of $11.8 million in less than two years. Appili also said it would borrow a further $500,000 through the Atlantic Canada Opportunities Agency‘s Business Development Program. “The second wave of financing in the last quarter of 2017 and into early 2018 confirms the confidence of our investors in the company’s strategy to bring to market new anti-infective drugs for resistant or neglected infections,” said CEO Kevin Sullivan in a statement Wednesday. Appili has been working to develop a portfolio of anti-infectious drug candidates. In the statement Wednesday, the company said it plans to “expand its pipeline of anti-infectives with additional in-licensed assets.” In October, Appili’s first drug candidate ATI-1501 received approval to begin clinical trials in both Canada and the U.S. It treats clostridium difficile infection, or CDI, in children. ATI-1501 removes the bitter taste from Metronidazole, a drug that has been used to treat the condition since the 1970s. Metronidazole is effective, but it tastes awful, so children often won’t take it, thereby limiting its effectiveness. By removing the bitter taste, ATI-1501 improves the results of the drug. Last month, the company struck an agreement to work on a vaccine that could protect people against a potential bioterror threat. It signed a licence agreement with the National Research Council of Canada to help develop ATI-1701, to vaccinate against tularemia. The vaccine will protect against bacteria called Francisella tularensis, which can cause tularemia, a highly infectious disease also known as rabbit fever. The company is also working on a compound called ATI-1503, an antibiotic that could fight deadly infections such as Klebsiella pneumonia. Sullivan has said the drug could combat viruses that are resistant to antibiotics, but it’s a longer-term, riskier project than the other candidates. “Appili Therapeutics was formed with the intent to create a portfolio of research and development assets, and this funding will allow us to be opportunistic in our in-licensing activities,” said CFO Kimberly Stephens in the statement. Disclosure: Innovacorp and ACOA are clients of Entrevestor. ]]>
BIONOVA CONTACT
#46 1344 Summer Street
Halifax, Nova Scotia
Canada B3H 0A8
Phone: 902-421-5705
Fax: 902-421-2733
Email: [email protected]
Halifax, Nova Scotia
Canada B3H 0A8
Phone: 902-421-5705
Fax: 902-421-2733
Email: [email protected]
Recent Posts
- NEWS RELEASE: Doris Grant appointed Vice President Business Development and Strategy at BioNova
- MARS VR Lab
- Workinsights
- NEWS RELEASE: BioNova Announces MycoFutures North Atlantic as the Winner of the Eleventh Annual BioInnovation Challenge (BIC) at BioPort 2021
- NEWS RELEASE: BioNova’s BioPort 2021 Conference for Health and Life Sciences Kicks-Off Today
Business Wire National BioTech News
- DIC Algae Oil Sulfurized Extreme Pressure Additives Present Promising Alternatives to Lard Oils and Vegetable Oils in Lubricating Oils, Metalworking Fluids, and Greases
- Cybin to Participate at the 27th Annual Milken Institute Global Conference
- MindMed to Present at Upcoming May Medical Conferences
- BrightFocus Foundation Announces $10M in New Funding Across Brain and Vision Research, Celebrates Historic Diversity of Grant Award Recipients
- Antibe Announces Appointment of Receiver
- Binarly Launches Next-Generation Transparency Platform to Elevate Software Supply Chain Security
- Tentarix Biotherapeutics Announces the Appointment of Andrew D. Kidd, MD, CFA, as CEO
- ZYUS Life Sciences Receives United States Patent No. 11,963,943 Covering Pain Management
- Acadia Pharmaceuticals Announces Trofinetide New Drug Submission for Treatment of Rett Syndrome Has Been Accepted for Filing and Priority Review by Health Canada
- Checkerspot Announces Patent for Non-Genetically Engineered High-Oleic Microalgae Oil
RECENT NEWS
- NEWS RELEASE: Doris Grant appointed Vice President Business Development and Strategy at BioNova February 9, 2023
- MARS VR Lab January 25, 2022
- Workinsights January 25, 2022
- NEWS RELEASE: BioNova Announces MycoFutures North Atlantic as the Winner of the Eleventh Annual BioInnovation Challenge (BIC) at BioPort 2021 November 8, 2021
- NEWS RELEASE: BioNova’s BioPort 2021 Conference for Health and Life Sciences Kicks-Off Today November 2, 2021
- NEWS RELEASE: BioNova Selects Eight Semi-Finalists to Participate in the 11th Annual BioInnovation Challenge August 24, 2021
RECENT TWEETS
Notice: Trying to get property 'full_text' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 206
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1033
Notice: Trying to get property 'id_str' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1033
Notice: Trying to get property 'favorite_count' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1064
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1104
Notice: Trying to get property 'name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1104
·
@
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1123
Notice: Trying to get property 'screen_name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1123
Notice: Trying to get property 'id' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1123
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1307
Notice: Trying to get property 'screen_name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1307
Notice: Trying to get property 'id' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 1307
Notice: Trying to get property 'id' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 601
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 601
Notice: Trying to get property 'screen_name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 601
Notice: Trying to get property 'id' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 619
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 619
Notice: Trying to get property 'screen_name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 619
Notice: Trying to get property 'user' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 579
Notice: Trying to get property 'screen_name' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 579
Notice: Trying to get property 'id' of non-object in /home/bionova/public_html/wp-content/plugins/feed-them-social/feeds/twitter/class-fts-twitter-feed.php on line 579