Appili Therapeutics, the biopharmaceutical company focused on drug development for infectious diseases, and AiPharma have announced a strategic alliance to advance the global development of Avigan®/Reeqonus™ (favipiravir), a broad-spectrum oral antiviral potential treatment and prevention of COVID-19.
The aim of the alliance is to establish minority positions in each other’s businesses, further align their goals and participate in each other’s respective economic interests.
Highlights of the strategic alliance include:
- Accelerated and strengthened development of Avigan/Reeqonus (favipiravir) on a coordinated and worldwide basis.
- AiPharma expects access to cash flows tied to the growing worldwide sales of Avigan/Reegonus via its 50% equity stake in consortium member Global Response Aid.
- The establishment of a joint scientific steering committee to coordinate the rapid development of Avigan/Reeqonus.
- Equity transaction – Appili exchanges shares with AiPharma for strong alignment and mutual economic participation in each other’s respective businesses.
- Plans to bring on additional programs, assets and partners to further the goal of becoming a global, integrated and infectious disease specialized healthcare company.
Armand Balboni, M.D., Ph.D., Chief Executive Officer of Appili Therapeutics said: “COVID-19 continues to be an immense health threat with little relief in sight. The world needs safe and effective oral antivirals that can help alleviate the threat of COVID-19, and I believe Avigan/Reeqonus has the potential to change the trajectory of this pandemic. This partnership will help us further streamline activities and move quickly following the PRESECO readout to key clinical, regulatory and commercial milestones.”
Alessandro Gadotti, Chief Executive Officer at AiPharma, added: “This is an exciting and important partnership for us. Our work with Appili will have real impact for people and communities around the world. The strength of oral antiviral treatments, such as Avigan/Reeqonus, in real terms is that they fight COVID-19 in the community and not in hospitals – which can majorly reduce pressures on healthcare systems. Our joint product portfolio puts us on the front line in the fight against COVID-19 and future pandemic preparedness. Our company was established by a team of drug development, infectious disease, data scientists and commercialization experts. We believe that this expertise, paired with Appili’s promising pipeline of specialty therapeutics, will allow us to evolve into a global integrated infectious disease healthcare company.”