Category: Archives 2020

HALIFAX, Nova Scotia, September 11, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on anti-infective drug development, today announced that it has submitted a new protocol to its open investigational new drug application (IND) with the U.S. Food and Drug Administration (FDA) to conduct a Phase 3 clinical study evaluating favipiravir in the early treatment outpatient setting for adult COVID-19 infections. Favipiravir is a broad-spectrum antiviral administered in oral tablet form. Investigators will seek to determine if favipiravir is a safe and effective treatment for mild-to-moderate COVID-19 infections and, if administered early, may shorten the time to clinical recovery and keep the infection from progressing into the severe or life-threatening form of the illness.

“As the global incidence of COVID-19 cases continues to rise at alarming rates, and we learn more about the virus and patient demographics, it is clear that we will need multiple approaches to effectively quell this pandemic,” said Dr. Armand Balboni, Chief Executive Officer at Appili Therapeutics. “As part of this global effort, Appili has focused on the outpatient setting with the first orally available antiviral for the potential treatment of COVID-19 in adults with mild to moderate disease. We look forward to working with clinical teams to rigorously study the utility of favipiravir, helping to determine if it can help reduce the spread and inhibit COVID-19 disease progression.”

Appili’s study is designed to be a randomized, double-blind placebo-controlled, multi-center Phase 3 trial investigating the safety and efficacy of favipiravir in the early treatment outpatient setting for adult COVID-19 infections with mild to moderate symptoms. Appili plans to recruit 826 eligible participants, who are recently diagnosed as COVID-19 positive with mild to moderate symptoms, across multiple clinical trial sites in the U.S. Participants are expected to be outpatients who do not require hospitalization and who have had a positive COVID-19 test. Participants will self-administer the drug regimen in their homes, with clinical investigators monitoring them remotely. Appili expects to initiate trial recruitment in the Fall of 2020.

In a sub study, researchers intend to further examine 136 trial participants to evaluate favipiravir’s effect on viral shedding. This occurs when the virus is contagious, replicating inside the body, and is released into the environment. In this portion of the study, investigators are seeking to determine if treatment with favipiravir can shorten the period of viral shedding, thus diminishing the period of infectivity and decreasing the spread of the virus.

“Helping to reduce the time to clinical recovery and infection severity could reduce the need for invasive and costly measures such as hospitalizations,” said Yoav Golan, MD, Chief Medical Officer, Appili Therapeutics. “Reducing the duration in which a patient is contagious could help reduce secondary cases and infection spread. Our goal is to generate robust clinical data that can help determine if favipiravir can safely and effectively support these outcomes. Favipiravir’s preliminary clinical data, broad spectrum antiviral activity, and oral formulation make this an exciting candidate for early intervention and treatment against COVID-19.”

Favipiravir is a broad-spectrum antiviral in oral tablet form originally developed by FUJIFILM Toyama Chemical Inc. and approved in Japan as a treatment and stockpile countermeasure for pandemic influenza under the name AVIGAN. Following promising clinical studies, Russia and India recently approved favipiravir-based antiviral medications for the emergency treatment of COVID-19.[i] [ii] Clinicians are conducting additional trials evaluating favipiravir as a treatment for COVID-19 in countries including Japan, China, and the United Kingdom.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FUJIFILM Toyama Chemical Inc.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

Forward looking statements

This news release contains “forward-looking statements,” which reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities, including statements with respect to: the scope and parameters of the proposed clinical trial in the U.S. and the likelihood that such clinical trial will be consummated on the terms and timeline provided herein or at all; and the potential use of favipiravir for the treatment of COVID-19 (including as an early treatment of COVID-19 to control disease progression and limit virus spread). 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 contained in this press release are provided in reliance on certain assumptions, including with respect to: securing all requisite required approvals and funding for the clinical trial in the U.S.; finalizing mutually acceptable clinical trial agreement and related agreements with the applicable clinical research organizations relating to this clinical trial;  site and patient enrolment; and other expectations and assumptions concerning the proposed clinical trial in the U.S. (including with respect to potential outcomes and benefits). Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company cannot give assurance that these expectations will prove to have been correct.

Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, economic, competitive, political and social uncertainties; known and unknown risks and liabilities relating to the ongoing COVID-19 pandemic; risks relating to the inability of Appili to secure any requisite rights to manufacture and commercialize favipiravir in the U.S and other jurisdictions on favourable terms or at all; unforeseen events, developments, or factors causing any of the aforesaid expectations and assumptions not to be correct; and the other risk factors listed in the annual information form of the Company dated June 24, 2020 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.

The Company is not making any express or implied claims that it has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

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.

###

[i] RDIF and ChemRar announce first interim results of clinical trials of Favipiravir drug’s effectiveness in coronavirus therapy

[ii] Glenmark Becomes the First Pharmaceutical Company in India to Receive Regulatory Approval for Oral Antiviral Favipiravir, for the Treatment of Mild to Moderate COVID-19

Media Relations Contact:

Canadian Media:
Chantal Allan
Sam Brown Inc.
T: 613-319-4384 (CAN)
T: 805-242-3080 (U.S.)
E: chantalallan@sambrown.com

US/Trade Media:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics Inc.
TSXV: APLI
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, September 10, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the Company or Appili), a biopharmaceutical company developing anti-infective drug candidates, today announced that its leadership team will be presenting an update on Appili’s programs at two upcoming investor conferences. A copy of Appili’s investor presentation will be available on the Company’s website under the ‘Investor Overview’ page.

Details are as follows:

H.C. Wainwright & Co – 22nd Annual Global Investment Conference

Date: Tuesday, September 15
Time: 4:00 PM ET

Access via Webcasting Link:  https://wsw.com/webcast/hcw7/aplif/1722508

About the Conference

H.C. Wainwright & Co’s 22nd Annual Global Investment Conference is a virtual event occurring September 14-16, 2020. It includes leading industry keynote speakers and presenting companies, investor one-on-one meetings, networking opportunities with attendees, and an evening of virtual entertainment.

Maxim Group’s Antifungal Webinar
Title: A Too Quiet Pandemic – Fungal Disease
Date: Thursday, September 17
Time: 1:00 PM ET

Access:  https://bit.ly/3bDWHJ9

About the Conference

With much of the mainstream focus on antibiotic drug resistance and viral diseases, fungi and their related invasive and mucosal infections still seem to go relatively unnoticed. There are over 1.6 million deaths annually related to severe fungal infections and there are tens of millions of mucosal infections. The need for new anti-infectives could never be greater, especially antifungals where there are only three existing classes of drugs with too few options in each. Fungal-driven diseases are diseases of opportunity, often arising in settings of immune function changes or secondary to other conditions like cancer therapy and transplant, even secondary to viral infections including COVID-19. However, while these are diseases of opportunity for fungi and representative of its own pandemic, with it comes opportunity for novel therapeutics to emerge. The unmet need has ushered in not only innovative approaches, but also changes in regulatory guidelines, incentives for drug developers, changes in trial design and execution, changes in the views of payers and renewed focus of the investment community. This panel discussion includes top innovators in the fungal drug development space.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FFTC’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

This news release contains “forward-looking statements”, including with respect to the effective date of the TSX listing and the TSXV delisting, 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 June 24, 2020 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.

###

Media Contact:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
TSX: APLI
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, August 14, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the Company or Appili), a biopharmaceutical company developing anti-infective drug candidates, today announced its financial and operational results for the first quarter of its fiscal year 2021, which ended June 30, 2020.

First quarter and recent operational highlights include:

• Clearance from Health Canada and the U.S. FDA to initiate Appili’s Phase 2 trial evaluating favipiravir as a prophylaxis against COVID-19 outbreaks in long-term care homes
• Completed equity financing of $15,525,000 and concurrent private placement of $1,440,000
• Equity trading commencement on the OTCQX marketplace in the U.S.
• Appointment of Dr. Yoav Golan as Chief Medical Officer

“The support from our investor community capitalizing Appili with approximately $17 million this quarter has played an integral part in our ability to advance our clinical programs and continue our mission to address needs in the ID marketplace,” said Kimberly Stephens, Chief Financial Officer of Appili Therapeutics. “Achieving milestones, including recruiting Yoav, a world-class CMO, and creating a program designed to help address the global COVID-19 pandemic, have set the stage for another momentous year for Appili, our shareholders, and the patients who may benefit from our programs.”

Financial Results

The Company prepares its financial statements in accordance with IFRS as issued by the International Accounting Standard Board and Part I of Chartered Professional Accountants of Canada Handbook –Accounting. All dollar figures are $CAN unless otherwise noted.

The net loss and comprehensive loss of $2.6 million or $0.05 loss per share for the quarter ended June 30, 2020 was $0.8 million higher than the net loss and comprehensive loss of $1.8 million or $0.06 loss per share during the quarter ended June 30, 2019. This relates mainly to a $1.0 million increase in research and development expenses, a $0.2 million increase in in general and administrative expenses, and a $0.1 million increase accreted interest, offset by a $0.3 million decrease in business development expenses, as well as a $0.1 million increase in government assistance.

As of June 30, 2020, the Company had cash and short-term investments of $25.6 million, compared to $10.5 million at March 31, 2020.

As of August 14, 2020, the Company had 61,604,011 Class A common shares (“Common Shares”) issued and outstanding, 4,021,575 stock options and 15,330,929 warrants outstanding.

This press release should be read in conjunction with the Company’s unaudited interim condensed financial statements for June 30, 2020 and the related management discussion and analysis (MD&A), copies of which are available under the Company’s profile on SEDAR at www.sedar.com.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FFTC.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific 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 June 24, 2020 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.

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 coronavirus) at this time.

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.

###

Media Contact:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
TSX: APLI
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, August 13, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on anti-infective drug development, today announced the voting results from its annual and special meeting of shareholders held on Thursday, August 12, 2020.

Based on the proxies received and the vote conducted at the meeting, all tabled resolutions were approved by the shareholders of the Company, including the election of the following directors

for the ensuing year: Ian Mortimer, Brian Bloom, Juergen Froelich, Theresa Matkovits, and Armand Balboni.

Shareholders also approved the re-appointment of PricewaterhouseCoopers, LLP, Chartered Accountants, as independent auditor of the Company for the ensuing year and authorized the directors of the Company to fix their remuneration.

In addition, the shareholders approved amendments to the Company’s stock option plan as described in Schedule C of Appili’s management information circular dated July 13, 2020.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FUJIFILM Toyama Chemical Inc.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

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.

###

Media Relations Contacts
Canadian Media:
Chantal Allan
Sam Brown Inc.
T: 613-319-4384 (CAN)
T: 805-242-3080 (U.S.)
E: chantalallan@sambrown.com

US/Trade Media:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact
Kimberly Stephens, CFO
Appili Therapeutics Inc.
E: Info@AppiliTherapeutics.com

TSXV: APLI

HALIFAX, Nova Scotia, August 11, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the Company or Appili), a biopharmaceutical company developing anti-infective drug candidates, today announced that its listed in the common shares United States, under the symbol APLIF, are Depository Trust Company (DTC) eligible. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC services provide simplification, convenience, and cost benefits for investors and brokers trading Canadian securities in the United States.

“Our programs have implications worldwide, including our recently announced U.S. expansion of the Phase 2 trial evaluating favipiravir as a prophylaxis against COVID-19,” said  Kimberly Stephens, Chief Financial Officer of Appili Therapeutics. “DTC eligibility provides access to a broader base of investors in North America and bolsters the visibility of Appili in the capital markets, thereby further solidifying our ability to improve our share liquidity and advance our programs.”

Appili’s common shares will continue to trade under Cusip #03783R107 and ISIN # CA03783R1073.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FFTC’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific 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 June 24, 2020 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.

###

Media Contact:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
TSX: APLI
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, July 30, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on anti-infective drug development, today announced that the Company has initiated site screening of long term care (LTC) facilities in Ontario for its Phase 2 study evaluating favipiravir as a post-exposure outbreak control measure against COVID-19. Residents at screened sites will be eligible for enrollment and randomization into the trial upon confirmation of a COVID-19 outbreak. The trial is expected to ultimately enroll approximately 760 participants at 16 LTC facilities. Appili may increase the number of LTC facilities screened depending on the trajectory of the COVID-19 pandemic.

“As expected, as physical distancing restrictions are eased, COVID-19 cases are increasing in Ontario and across Canada” said Primary Investigator Dr. Allison McGeer, senior clinician scientist at the Lunenfeld-Tanenbaum Research Institute at Sinai Health. “We have made significant progress in screening potential trial sites, which is a necessary precursor to dosing trial participants. When COVID-19 inevitably is introduced into these facilities, our team will be ready to treat participants and gather the necessary data to understand the utility of favipiravir for outbreak control.”

Favipiravir is a broad-spectrum antiviral available in oral tablet form. Appili is conducting this partially blinded, placebo-controlled cluster-randomized trial (RCT) to evaluate the safety and efficacy of favipiravir in controlling outbreaks of COVID-19 in long term care facilities. Residents of long-term care comprise the vast majority of Canadian COVID-19 deaths.

Favipiravir was originally developed and approved in Japan as a treatment and stockpile countermeasure for pandemic influenza outbreak under the name AVIGAN. Following promising clinical studies, Russia and India recently approved favipiravir-based antiviral medications for the emergency treatment of COVID-19.[i] [ii] Researchers are conducting additional trials evaluating favipiravir as a treatment for COVID-19 in countries including the United States, Japan, China, and the United Kingdom.

“We believe that we will ultimately need a multi-faceted approach to defeat the COVID-19 global pandemic, and that favipiravir will be an important part of the arsenal that helps defeats the biggest public health threat of our lifetime,” said Armand Balboni, MD, Chief Executive Officer at Appili Therapeutics. “In addition to the growing body of scientific data indicating antiviral activity against this corona virus, favipiravir has the added benefit of being an oral treatment, not an intravenous drug, which is of particular utility in the LTC setting. Furthermore, it may provide an additional avenue of prophylaxis for this highly vulnerable patient population, as vaccines are less likely to work in elderly or immunocompromised patients.”

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FUJIFILM Toyama Chemical Inc.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

Forward looking statements

This news release contains “forward-looking statements,” which reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities, including statements with respect to: the scope and parameters of the proposed clinical trial and the likelihood that the clinical trial will be consummated on the terms and timeline provided herein or at all; and the potential use of favipiravir as a prophylactic agent for the treatment of COVID-19. 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 contained in this press release are provided in reliance on certain assumptions, including with respect to: securing all requisite required approvals and funding for the clinical trial;  site availability and patient enrolment; and other expectations and assumptions concerning the proposed clinical trial (including with respect to potential outcomes and benefits). Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company cannot give assurance that these expectations will prove to have been correct.

Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, economic, competitive, political and social uncertainties; known and unknown risks and liabilities relating to the ongoing COVID-19 pandemic; risks relating to the inability of Appili to secure any requisite rights to manufacture and commercialize favipiravir in Canada on favourable terms or at all; unforeseen events, developments, or factors causing any of the aforesaid expectations and assumptions not to be correct; and the other risk factors listed in the annual information form of the Company dated June 24, 2020 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.

The Company is not making any express or implied claims that it has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

###

Media Relations Contacts:
Canadian Media:
Chantal Allan
Sam Brown Inc.
T: 613-319-4384 (CAN)
T: 805-242-3080 (U.S.)
E: chantalallan@sambrown.com

US/Trade Media:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics Inc.
E: Info@AppiliTherapeutics.com

TSXV: APLI

[i] RDIF and ChemRar announce first interim results of clinical trials of Favipiravir drug’s effectiveness in coronavirus therapy

[ii] Glenmark Becomes the First Pharmaceutical Company in India to Receive Regulatory Approval for Oral Antiviral Favipiravir, for the Treatment of Mild to Moderate COVID-19

HALIFAX, Nova Scotia, June 24, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on anti-infective drug development, today reported its financial and operational results for the year ended March 31, 2020.

“2020 proved to be a transformative year for Appili,” said Armand Balboni, MD, PhD, Chief Executive Officer of Appili Therapeutics. “Appili emerged fully onto the global biotech stage this year, transitioning to a publicly traded company, adding novel anti-fungal and anti-viral programs to our development portfolio, including our recently announced trial assessing favipiravir, which we believe has the potential to address a critical global unmet need as a preventative agent for COVID-19. We look forward to making continued, purposeful progress over the course of the next year as Company advances its mission to identify and address significant unmet needs in the infectious disease sector, and beyond.”

2020 and recent highlights included:

– Financial

• Debuted as a public company on the TSXV exchange and subsequently began trading on the OTCQX trading platform
• Completed successful equity financings for $10.25M CAD in February 2020 and $16.9M CAD in June 2020
• Increased its non-dilutive funding, including a $3M USD grant from the U.S. Department of Defense and a $476,000 CAD repayable contribution through Atlantic Canada Opportunities Agency

– Leadership

• Named Dr. Armand Balboni as new Chief Executive Officer
• Expanded the Board of Directors with the addition of veteran biotech executive Dr. Juergen Froehlich
• Named infectious disease specialist Dr. Yoav Golan as Appili’s Chief Medical Officer

– Development Programs

• Received Health Canada approval to initiate Phase 2 trial evaluating FujiFilm Toyama Chemical’s (“FFTC”) favipiravir as a prophylaxis against COVID-19 outbreaks in long-term care homes (May 2020)
• Entered into a commercialization agreement with Saptalis Pharmaceuticals for Appili’s reformulation of the antibiotic metronidazole (December 2019)
• Acquired ATI-2307, a novel broad spectrum anti-fungal drug candidate from FFTC to target resistant fungal infections, including Cryptococcus and Candida (November 2019)

“Appili has laid the groundwork for continued progress and impact in our industry,” said Kimberly Stephens, CPA, CA, Chief Financial Officer at Appili. “With continued support from the investor community – including two successful fundraises – and our listing on TSXV and the OTCQX trading platform, we remain well capitalized and well positioned to advance our pipeline through milestones that create value for our shareholders and solutions for patients.”

The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 coronavirus) at this time.

Financial Results

The Company prepares its financial statements in accordance with IFRS as issued by the International Accounting Standard Board and Part I of Chartered Professional Accountants of Canada Handbook –Accounting. All dollar figures are $CAN unless otherwise noted.

The net loss and comprehensive loss of $5,416,496 or $0.16 loss per share for the year ended March 31, 2020 was $1,085,512 higher than the net loss and comprehensive loss of $4,330,984 or $0.14 loss per share during the year ended March 31, 2019. This relates mainly to a $909,918 increase in general and administrative expenses, a $1,483,478 decrease in government assistance and a $80,949 increase in business development, offset by a $1,242,315 decrease in research and development (R&D) expenses and a $53,588 increase in accreted interest.

At March 31, 2020, the Company had cash and short-term investments of $10,540,165 and working capital of $9,732,658, compared to $5,451,578 and $5,405,447, respectively at March 31, 2019. Subsequent to the year ended March 31, 2020, the Company completed a public offering for aggregate gross proceeds of $15,525,000 and a concurrent private placement for aggregate gross proceeds of $1,440,000 on June 10, 2020.

As of June 24, 2020, the Company had 61,604,011 Class A common shares issued and outstanding, 4,021,757 stock options and 7,359,354 and warrants.

This press release should be read in conjunction with the Company’s audited annual consolidated financial statements for the fiscal year ended March 31, 2020 and the related management discussion and analysis (MD&A), copies of which are available under the Company’s profile on SEDAR at www.sedar.com.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FFTC.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific 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 June 24, 2020 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.

###

Media Relations Contact:
Andrea Cohen, Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, June 15, 2020 – Appili Therapeutics Inc. (TSXV: APLI; OTCQX: APLIF) (the “Company” or “Appili”) is pleased to announce today that its common shares began trading on the OTCQX Best Market®.  The OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Appili’s shares are trading under the ticker symbol “APLIF.”

“The OTCQX qualification provides trading access for our securities to US-based investors, which is an important milestone as we advance our anti-infective programs and build our visibility in the global marketplace,” said Kimberly Stephens, CP, CFA, Chief Financial Officer, Appili Therapeutics. “Our pipeline programs, including our recently announced trial that is investigating the use of favipiravir in COVID-19, have implications worldwide. This milestone provides transparency to our current and future shareholders on a recognized U.S. securities trading platform.”

The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FUJIFILM Toyama Chemical Inc.’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

Forward looking statements

This news release contains “forward-looking statements” which reflect the current expectations of the Company’s management for 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 3, 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.

###

Media Relations Contact:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
TSX-V: APLI
E: Info@AppiliTherapeutics.com

HALIFAX, Nova Scotia, June 10, 2020 – Appili Therapeutics Inc. (TSXV: APLI) (the “Company” or “Appili”) announced the closing of its previously announced public offering (the “Public Offering”) of units (the “Units”). The Public Offering was made pursuant to an agency agreement entered into with a syndicate of agents led by Bloom Burton Securities Inc. (the “Lead Agent”) and including Mackie Research Capital Corporation, Industrial Alliance Securities Inc., Haywood Securities Inc., and Richardson GMP Limited (collectively with the Lead Agent, the “Agents”) and the Company.

Pursuant to the Public Offering, the Company issued a total of 12,937,500 Units at a price of $1.20 per Unit for aggregate gross proceeds of $15,525,000, which includes the exercise in full by the Agents of their over-allotment option to purchase 1,687,500 additional Units for additional gross proceeds of $2,025,000. Each Unit is comprised of one Class A common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share (a “Warrant Share”) at an exercise price of $1.50 per Warrant Share until June 10, 2023.

“Appili has entered the global effort to solve the COVID-19 pandemic, and our team, along with our partners, including Fujifilm Toyama Chemical and Sinai Health, are working diligently to advance this randomized controlled trial as quickly and as thoroughly as possible,” said Dr. Armand Balboni, Chief Executive Officer, Appili Therapeutics. “Appili was built to solve infectious disease problems, and we believe that favipiravir will be an important part of the arsenal that ultimately addresses this coronavirus pandemic. With the continued support from the investment community, the results of this fundraise bolsters our capacity to push forward our Phase 2 program, which is designed to address a critical unmet need for the most vulnerable COVID-19 patients.”

The Units were qualified for sale by way of a prospectus supplement dated June 5, 2020 to the short base shelf prospectus of the Company dated September 19, 2019 (collectively, the “Prospectus”). A copy of the Prospectus is available under the Company’s profile at www.sedar.com.

In connection with the Public Offering, the Company has paid the Agents an aggregate cash consideration of $1,083,390. As additional consideration, the Agents have received 902,825 broker warrants (“Broker Warrants”). Each Broker Warrant is exercisable for one Common Share (a “Broker Warrant Share”) at a price of $1.20 per Broker Warrant Share until June 10, 2022.

The Company also currently closed a non-brokered private placement of 1,200,000 Units, at the Offering Price for gross proceeds of $1,440,000 (the “Concurrent Private Placement” and with the Public Offering, the “Offerings”). No fees or commissions are payable to the Agents in connection with the Concurrent Private Placement. All securities issued pursuant to the Concurrent Private Placement are subject to a hold period of four months.

The net proceeds of the Public Offering will be used primarily towards funding planned research and development activities for the clinical trial sponsored by the Company evaluating FUJIFILM Toyama Chemical Inc.’s (“FFTC”) drug favipiravir in long-term care facilities as a potential preventative measure against COVID-19. Net proceeds of the Public Offering will also be used to fund development costs for the Company’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. Details as to the specific allocation of the proceeds are disclosed in the Prospectus.

The net proceeds of the Concurrent Private Placement are expected to be used to fund other research and development activities, business development activities, general and administrative expenses, and for general working capital purposes.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein. The securities offered have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons (as both such terms are defined in Regulation S promulgated under the U.S. Securities Act) absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

As partial consideration for its services in connection with the Public Offering, the Lead Agent received 280,777 Broker Warrants. Prior to the closing of the Offerings, the Lead Agent together with Bloom Burton & Co. Inc. and Bloom Burton Development Corporation (collectively, “Bloom Burton”), each an affiliate of the Lead Agent, beneficially owned, directly and indirectly, an aggregate of 14,350,120 Common Shares, 256,545 share purchase warrants (the “Previously Held Broker Warrants”) exercisble into 256,545 Common Shares at a price of $0.80 per Common Share until February 20, 2023, and 2,200 share purchase warrants (the ”IPO Broker Warrants”) exercisable into 8,491 Common Shares at a price of $1.10 per Common Share until November 21, 2020, representing approximately 30.24% of the then issued and outstanding Common Shares on a non-diluted basis, and 30.62% of the then issued and outstanding Common Shares on a partially-diluted basis, assuming the exercise of the IPO Broker Warrants and Previously Held Broker Warrants held by Bloom Burton and its affiliates only.

Immediately following closing of the Offerings, Bloom Burton beneficially owns, directly or indirectly, 14,350,120 Common Shares, 2,200 IPO Broker Warrants, 256,545 Previously Held Broker Warrants and 280,777 Broker Warrants, representing 23.30% of the Common Shares issued and outstanding on a non-diluted basis and 23.97% of the Common Shares issued and outstanding on a partially-diluted basis, assuming the exercise of the IPO Broker Warrants, Previously Held Broker Warrants and the Broker Warrants held by Bloom Burton only.

The Lead Agent received the Broker Warrants in the normal course of its business as a registered investment dealer. The Broker Warrants and the other securities of the Company beneficially owned, directly or indirectly, by Bloom Burton, are held for investment purposes. Bloom Burton has a long-term view of the investment and may acquire additional securities including either in the open market or through private acquisitions or sell the securities including either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors, to the extent permitted under the escrow agreement dated as of June 12, 2019 to which Bloom Burton is party.

An early warning report relating to this transaction will be filed on SEDAR under the Company’s profile at www.sedar.com. To obtain a copy of such report, please contact Sonia Yung at (416) 640-7575 or at compliance@bloomburton.com. Bloom Burton is a company existing under the laws of Ontario specializing in the healthcare investment industry with its head office at 65 Front Street East, Suite 300, Toronto, Ontario, M5E 1B5.

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 critical 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, including ATI-2307, a novel, broad spectrum, clinical-stage antifungal candidate in development for severe and difficult-to-treat invasive fungal infections; ATI-1701, a vaccine candidate for tularemia, a very serious biological weapons threat; ATI-1503, a drug discovery program aimed at generating a novel class of antibiotics with broad-spectrum activity against Gram-negative superbugs; and ATI-1501, which employs Appili’s proprietary, taste-masked, oral-suspension technology with metronidazole for the growing number of patients with difficulty swallowing. In addition, the Company is also testing FFTC’s drug favipiravir for the prevention of COVID-19 as a potential prophylaxis treatment. Headquartered in Halifax, Nova Scotia, with offices in Toronto, Ontario, Appili is pursuing worldwide opportunities in collaboration with scientific and industry commercial partners, governments and government agencies. For more information, visit www.AppiliTherapeutics.com.

Forward looking statements

This news release contains “forward-looking statements”, including with respect to the proposed use of proceeds. 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. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Prospectus 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.

###

Media Relations Contact:
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com

Investor Relations Contact:
Kimberly Stephens, CFO
Appili Therapeutics
TSX-V: APLI
E: Info@AppiliTherapeutics.com