Halifax biopharma company Appili Therapeutics has raised about $16.9 million to fund Canadian trials of influenza drug Favipiravir, which is owned by Japanese photography and biotech giant FUJIFILM Toyama Chemical Company.
The private placement comes in the wake of Appili’s $10.25 million raise in February of this year and is part of a surge in bioscience fundraising in Atlantic Canada.
Both Appili’s February fundraising and the more recent round have seen the company sell shares and warrants on the TSX Venture exchange. The $16.9 million included $15.5 million worth of publicly sold