HALIFAX, Nova Scotia, December 2, 2019 – Appili Therapeutics Inc. (TSXV: APLI) (the “Company” or “Appili”), a clinical stage biopharmaceutical company developing anti-infective drug and vaccine candidates, announced that, effective today, it has appointed Dr. Armand Balboni to serve as its new Chief Executive Officer. As part of a planned transition, Dr. Balboni will replace former Chief Executive Officer Kevin Sullivan, who has resigned to pursue other opportunities. Dr. Balboni has served as Appili’s Chief Scientific Officer and a member of the Company’s board since 2018 and brings over 20 years of clinical and regulatory experience to the role of Appili CEO.
“Having assembled an impressive portfolio of anti-infective drug candidates under the stewardship of Kevin Sullivan, the Board believes that it is the right time to transition leadership to Dr. Balboni,” said Stephen Nicolle, Chair of the Board at Appili. “Armand’s caliber and experience, including his familiarity with Appili and extensive previous work with successful preclinical and clinical therapeutic programs, make him an optimal fit to lead the Company through its next stage of drug development milestones and value creation. We are grateful to Kevin for his leadership in bringing Appili to this pivotal point and wish him well in his future endeavours.”
Dr. Balboni’s healthcare experience includes medical and drug development acumen in both civilian and military organizations. He is a founding partner and served as the senior advisor on scientific, regulatory, and medical affairs for the investment advisory firm Bloom Burton & Co., advising some of the most recent promising Canadian biotech companies. Dr. Balboni is also a Commissioned Officer in the U.S. Army with 17 years of military service including as the Deputy Director, Office of Regulated Activities (ORA),U.S. Army Medical Materiel Development Activity (USAMMDA). Dr. Balboni’s work in the ORA focused on regulatory filings (Emergency Use Authorizations, meetings, pre-sub filings etc.) for military-relevant medical products across all therapeutic areas. In addition, he completed a U.S. Department of Defense fellowship at the U.S. Food and Drug Administration’s (FDA) Center for Drug Evaluation and Research (CDER) in the Division of Anti-infective Products, and in the Office of Counterterrorism and Emerging Threats (OCET). He also served as the Chief, Office of Research and Technology Application (ORTA), at the U.S. Army Research Institute of Infectious Disease (USAMRIID). Under his leadership, this office was responsible for the oversight of all strategic partnerships between USAMRIID and universities, U.S. and foreign government agencies, and biotechnology and pharmaceutical companies. Dr. Balboni has held various academic teaching positions including at Westfield State University, the University of Maryland University College, and the United States Military Academy at West Point. He completed his doctoral work in the MD/PhD program at the Icahn School of Medicine at Mount Sinai and his law degree (JD) at Brooklyn Law School.
“Appili’s steadfast mission is to help address the seemingly intractable threats created by infectious diseases worldwide, and I am eager to step into the CEO role at a very interesting time in the Company’s corporate maturation,” said Dr. Balboni. “We have a skilled team that comes to work every day committed to developing novel therapeutics in areas of significant unmet medical need. We have a strong network of shareholders whose ongoing support we value greatly. I firmly believe that Appili’s unique strategy to advance promising anti-infective candidates will make a significant impact on the underserved infectious disease treatment landscape.”
“I am proud of what our team at Appili built in under three years, going from a start-up to a publicly traded biotech with four strong programs, including the recent acquisition of the antifungal candidate ATI-2307,” said Mr. Sullivan. “I have enjoyed working with Armand over the past few years and have full confidence in his capable leadership to bring Appili through the next step in its corporate evolution. The time is now right for me to focus my skillset on new start-ups, which is where my passion is. My heartfelt thanks to the many dedicated Appili team members who have been crucial to our success thus far, and who will continue our mission to become a global leader in infectious disease.”
About Appili Therapeutics
Appili Therapeutics, Inc. was founded to advance the global fight against infectious disease by matching clearly defined patient needs with drug development programs that provide solutions to existing challenges patients, doctors, and society face in this challenging disease space. Appili has built a pipeline of assets designed to address a broad range of significant unmet medical needs in the infectious disease landscape. This diverse pipeline aims to address some of the most urgent threats in global public health. Appili acquired ATI-2307, a novel, broad spectrum, clinical stage antifungal, in development to address severe and difficult-to-treat invasive fungal infections. Via an in-licensing program, Appili acquired the rights to ATI-1701, a vaccine for tularemia, being developed to mitigate the risks of a very serious biological weapons threat. ATI-1503 is a drug discovery program aimed at generating negamycin analogue candidates, which are a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs. ATI-1501 employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. Headquartered in Halifax, Nova Scotia, with offices in Mississauga, Ontario, Appili is pursuing worldwide opportunities in collaboration with science and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.
This news release contains “forward-looking statements” which reflect the current expectations of the Company’s management future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may “, “would “, “could “, “should”, “will,” “anticipate,” “believe,” “plan,” “expect,” “intend,” “estimate,” “potential for” and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the annual information form of the Company dated July 2, 2019 and the other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
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Media Relations Contacts:
Andrea Cohen, Sam Brown Inc.
T: 917-209-7163
E: [email protected]
Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
E: [email protected]
