Private biopharmaceutical research, development, and commercialisation company, AiPharma, has announced a strategic alliance with biopharmaceutical company Appili Therapeutics Inc (Appili), to advance the global development of Avigan®/Reeqonus™ (favipiravir). This is a broad-spectrum oral antiviral, currently being evaluated by Appili for the potential treatment and prevention of COVID-19.
AiPharma and Appili entered into a strategic alliance agreement to establish and strengthen positions in each other’s businesses, further align their goals, and participate in each other’s respective economic interests.
The stock swap aligns both companies more closely, showcasing their shared interest in boosting sales of Avigan/Reeqonus worldwide and to further develop both organisations’ pipelines.
Dr Alessandro Gadotti, Chief Executive Officer at AiPharma said: “This is an exciting and important partnership for us. Our work with Appili will have a real impact on 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 commercialisation experts. We believe that this expertise, paired with Appili’s promising pipeline of speciality therapeutics, will allow us to evolve into a global integrated infectious disease healthcare company.”
“COVID-19 continues to be an immense health threat with little relief in sight. The world needs safe and efficient 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,” said Dr Armand Balboni, MD, PhD, Chief Executive Officer of Appili Therapeutics. “This partnership will help us further streamline activities and move quickly following PRESECO readout to key clinical, regulatory, and commercial milestones.”