Appili Therapeutics, Inc. Collaborates with AiPharma to Evaluate Therapeutic Candidate for COVID-19
Nova Scotia’s own Appili Therapeutics, Inc. has announced a strategic alliance with AiPharma Global holdings, LLC. This collaboration will allow the two to advance the global development of Avigan ® / Reeqonus ™ (favipiravir)- a broad-spectrum oral antiviral currently being evaluated by Appili in their Phase 3 COVID-19 treatment trial PRESECO (PREventing SEvere COVID-19).
Alongside Appili, a global consortium of researchers are evaluating this potential therapeutic drug. Favipiravir has the potential to treat COVID-19 and is being evaluated for both early treatment and as a post-exposure prophylaxis.
Appili Therapeutics is a biopharmaceutical company focused on drug development for infectious diseases. AiPharma is a private pharmaceutical research, development, and commercialization company.
Their strategic alliance includes the following highlights:
- Accelerated and strengthened development of Avigan/Reeqonus (favipiravir) on a coordinated and worldwide basis
- AiPharma expects access to cash flows tied to the growing worldwide sales of Avigan/Reegonus via its 50% equity stake in consortium member Global Response Aid (“GRA”)
- The establishment of a joint scientific steering committee to coordinate the rapid development of Avigan/Reeqonus
- Equity transaction: Appili exchanges shares with AiPharma for strong alignment and mutual economic participation in each other’s respective businesses
- Plans to bring on additional programs, assets and partners to further the goal of becoming a global, integrated and infectious disease specialized healthcare company
“COVID-19 continues to be an immense health threat with little relief in sight. The world needs safe and effective oral antivirals that can help alleviate the threat of COVID-19, and I believe Avigan/Reeqonus has the potential to change the trajectory of this pandemic,” said Armand Balboni, M.D., Ph.D., Chief Executive Officer of Appili Therapeutics. “This partnership will help us further streamline activities and move quickly following the PRESECO readout to key clinical, regulatory and commercial milestones.”
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