Appili Therapeutics Announces Bridge Loan from Bloom Burton & Co. - Appili Therapeutics
Summary
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESHALIFAX, Nova Scotia-June 29, 2023Appili Therapeutics Inc. (TSX: APLI; OTCQB: APLIF) (the Company or Appili), a biopharmaceutical company focused on drug development for infectious diseases and biodefense products, today announced that it has entered into a definitive agreement with respect to an unsecured C$300,000 bridge loan (the Bridge Loan) from Bloom Burton & Co. Inc. (the Lender).As previously announced, Appili entered into a cooperative agreement (the USAFA Cooperative Agreement) with the United States Air Force Academy (USAFA) for initial funding of US$7.3 million. By systematically identifying urgent infections with unmet needs, Appilis goal is to strategically develop a pipeline of novel therapies to prevent deaths and improve lives. The Company is currently advancing a diverse range of anti-infectives, including a vaccine candidate to eliminate a serious biological weapon threat, a topical antiparasitic for the treatment of a disfiguring disease, and a novel easy to use, liquid oral formulation targeting parasitic and anaerobic infections. For more information, visit www.AppiliTherapeutics.com.This news release contains forward-looking statements, including with respect to the timing of the second tranche, the proposed use proceeds and expected access to funding under the USAFA Cooperative Agreement. In particular, the Company has made certain assumptions regarding the timing of expense reimbursement under the USAFA Cooperative Agreement (as well as the scope of qualifying expenditures).