Aditxt has announced a definitive agreement under which its subsidiary, Adivir, will acquire complete issued and outstanding Class A common shares of biopharmaceutical company Appili Therapeutics.
The move enhances Aditxt's portfolio and creates synergies with its existing programmes, particularly in precision diagnostics.
Founded in 2015, Appili developed the Food and Drug Administration-approved LIKMEZ (ATI-1501).
LIKMEZ is a reformulated version of the antibiotic metronidazole that improves patient experience and compliance by making the medication easier to swallow and better tasting.
Appili licensed the manufacturing and commercialisation rights of the product in the US and other selected territories to Saptalis Pharmaceuticals.
Appili is also advancing ATI-1701, a live attenuated vaccine for Francisella tularensis.
The US Department of Defense has supported the ATI-1701 biodefence programme with $14m non-dilutive funding to progress the vaccine's development.
Another key asset in Appili's portfolio is ATI-1801, a topical formulation for cutaneous leishmaniasis.
The product, which contains paromomycin, offers a more patient-friendly treatment option for this painful and disfiguring disease.
The acquisition will aid Aditxt in bolstering its portfolio and integrating precision diagnostics with tailored treatment strategies.
The closure of the acquisition will occur in the third quarter of 2024.
Aditxt co-founder, chairman and CEO Amro Albanna stated: “The acquisition of Appili would represent another step in Aditxt’s journey towards advancing promising innovations in health.
“Our mission is to accelerate some of the most promising health innovations, like those developed by Appili, to reach their full potential and to have a lasting impact.
“By integrating Appili’s proven expertise and diverse portfolio in the infectious disease and biodefence domain, Aditxt can substantially contribute to advancing public health solutions.”
