Appili Therapeutics has entered into a $3.5 million convertible security funding agreement with Lind Global Fund.
The company intends to use the funding to advance the broader Appili pipeline, including ATI-2307, a novel clinical stage antifungal expected to enter Phase II study in 2022. It will also support the operations of the company as it prepares for top-line data from its PRESECO Phase III trial evaluating Avigan/Reeqonus (favipiravir) as a potential oral therapy for patients with mild-to-moderate Covid-19.
“Appili is working to develop medicines for some of the most urgent health challenges facing the world today, including the Covid-19 pandemic and the growing threat of Candida auris, a highly drug-resistant fungus that is spreading within hospital settings,” said Dr Armand Balboni, Chief Executive Officer at Appili Therapeutics. “This funding from Lind will help us move our pipeline forward to address these important public health threats, as well as provide Appili greater operational flexibility.”
“Lind is excited to invest in Appili Therapeutics at such a critical moment for the company,” said Phillip Valliere, Managing Director from The Lind Partners. “We look forward to helping Appili further accelerate their pipeline and supporting them in their upcoming trials.”
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