Appili Therapeutics Inc. closes public offering and concurrent private placement
June 10, 2020
15.53 Million CAD
On June 10, 2020 Appili Therapeutics Inc. closed a public offering of units for aggregate gross proceeds of C$15.525 million and a concurrent private placement for aggregate gross proceeds of C$1.44 million. The syndicate of agents was led by Bloom Burton Securities Inc. and included Mackie Research Capital Corporation, Industrial Alliance Securities Inc., Haywood Securities Inc., and Richardson GMP Limited.
The net proceeds of the public offering will be used primarily towards funding planned research and development activities for the clinical trial sponsored by Appili Therapeutics Inc. evaluating FUJIFILM Toyama Chemical Inc.’s drug favipiravir in long-term care facilities as a potential preventative measure against COVID-19. Net proceeds will also be used to fund development costs for Appili Therapeutics Inc.’s other product candidates, including the ATI-2307 antifungal program, the ATI-1701 tularemia vaccine program, and the antibiotic ATI-1503 program, as well as for working capital and general corporate purposes.
McCarthy Tétrault advised the syndicate of agents with a team led by Myreille Gilbert and included Philippe Leclerc, Isabelle Nazon, David Martin, Annie Poirier-Simard (Securities), Véronique Wattiez Larose (Intellectual Property), Marie-Soleil Landry and Quentin Lageix (Tax).