Appili Therapeutics Closes $3.5 Million Funding Agreement

Appili Therapeutics Inc. (TSX: APLI), a biopharmaceutical company focused on drug development for infectious diseases, has closed a $3.5 million convertible security funding agreement.

As part of the deal, Appili received net proceeds of $3.4 million from Lind Global Fund II, LP, an investment entity managed by New York institutional fund manager The Lind Partners. 

Appili Therapeutics intends to use the funding to support the operations of the Company as it prepares for top-line data from its PRESECO Phase 3 trial evaluating Avigan®/Reeqonus™ (favipiravir) as a potential oral therapy for patients with mild-to-moderate COVID-19. The funding will also be used to advance the broader Appili pipeline, including ATI-2307, a novel clinical stage antifungal expected to enter Phase 2 study in 2022.

Source: Appili Therapeutics Inc.