Appili Therapeutics Inc., an anti-infective drug development company, has been awarded $2,803,148 from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund (AIF).
This funding will enable Appili to take its first drug, ATI-1501 – a taste-masked, oral antibiotic that treats anaerobic infections like Clostridium difficile – through clinical trials to be ready for market approval.
Appili plans to take the antibiotic into clinical trials this year and is presently manufacturing the clinical batch of ATI-1501 to good manufacturing practices (GMP), the standard required by the Health Canada and the U.S. Food and Drug Administration (FDA).
The new ACOA funding is on top the $1 million combined assistance from ACOA and National Research Council Canada Industrial Research Assistance Program (NRC-IRAP) in May 2016.
Appili Therapeutics has raised $4.415 million in seed funding in two closings, primarily from private investors arranged by Bloom Burton & Co. Innovacorp, Nova Scotia’s early stage venture capital organization, invested approximately $750,000 as part of the two closings in May and December 2016.
photo credit: Appili Therapeutics