These funds along with other potential funding sources, are anticipated to continue to advance the ATI-1701 program toward an IND submission to the FDA in 2024
Additional US$6.6 million funding commitment for ATI-1701 brings the total program funding awarded to approximately US$14m. (Credit: Mufid Majnun on Unsplash
Appili Therapeutics, a biopharmaceutical company focused on drug development for infectious diseases and biodefense, today announced that the company secured a commitment for the second stage of funding for ATI-1701 from the U.S. Air Force Academy (“USAFA”), who is working in partnership with the Defense Threat Reduction Agency (“DTRA”), the funding agency. ATI-1701 is the Company’s potential first-in-class vaccine candidate for the prevention of infection with Francisella tularensis, the causative agent of tularemia and a top-priority biothreat.
With this additional 6.6 million award, Appili’s ATI-1701 program has been awarded the total US$14m in USAFA funding commitments announced on May 8, 2023.
“Being awarded this additional funding commitment from USAFA, in partnership with DTRA further strengthens Appili’s foundation in biodefense and enables us to scale-up our efforts to develop an urgently needed vaccine for this serious bioterrorism threat,” said Don Cilla, Pharm.D., M.B.A., President and Chief Executive Officer of Appili. “This level of funding commitment should further support nonclinical, manufacturing, and regulatory activities for ATI-1701, and should enable us to continue to advance this program towards an Investigational New Drug (“IND”).”
Appili will continue to oversee a comprehensive development program for ATI-1701, which includes nonclinical studies, manufacturing, and regulatory activities to support an IND submission. In May 2023, Appili was awarded the first stage of funding commitment from USAFA of US$7.3 million. The initial commitment was used to kick-off ATI-1701 early-stage development and regulatory activities, which are currently ongoing. Under the terms of the agreement with USAFA, Appili will be reimbursed for the subcontractor and vendor costs necessary to carry out the technical tasks. Additionally, Appili will be reimbursed for direct labour costs associated with budgeted program activities, including a portion of its overhead costs. Appili has also entered into an agreement with its lender whereby if needed, Appili has obtained temporary waivers of a minimum cash balance requirement. Further waivers may be necessary from time to time depending on the timing of reimbursements for expenses submitted to USAFA.
Source: Company Press Release