Appili Therapeutics seeks $117.5 million in funding

Appili Therapeutics, a biopharmaceutical company based in Halifax, Nova Scotia, has announced the submission of four new funding proposals to the U.S. federal government, totaling $117.5 million. These funds would be used to develop treatments for infectious diseases. The proposals include funding requests to the National Institute of Allergy and Infectious Diseases (NIAID) and the U.S. Medical CBRN Defense Consortium (MCDC). One proposal seeks $46.3 million to create a vaccine for fungal infections, while another requests $36.4 million for an antifungal treatment targeting rare fungal infections. Additionally, Appili is asking for $20.1 million for a treatment aimed at viral infections and $14.7 million for a direct-acting antiviral medication. Appili has previously received about $33.2 million from government funding, which has helped advance its projects, including a vaccine candidate for biodefense. The company is committed to enhancing U.S. preparedness against infectious diseases. In an update regarding its arrangement with the U.S. Air Force Academy (USAFA), Appili's bioweapon vaccine candidate, ATI-1701, received a modification that increases the reimbursement for administrative expenses. However, the company does not expect additional funding beyond the $11.6 million already received, which may affect the timeline for submitting an Investigational New Drug Application for ATI-1701. Appili is also in the process of a proposed transaction with Aditxt Inc., which will acquire all of its Class A common shares. Aditxt has until March 31, 2025, to secure financing for the deal. Appili expects the transaction to close in the first quarter of 2025, pending the fulfillment of closing conditions. Appili's mission focuses on tackling life-threatening infections through the development of novel therapies, including a range of anti-infectives and a vaccine candidate.