HALIFAX, Nova Scotia – Therapeutic Device Inc. (TSX: APLI; OTCQX: APLIF) (the “Company” or “Appili”), a biopharmaceutical company focused on the development of drugs for infectious diseases, announced that it had entered into a senior secured loan and an agreement exclusive license and distribution agreement (the “Agreement with Long Zone Holdings Inc. (“LZH”), led by Jonathan Ross Goodmanfounder of both Paladin Labs Inc. and Knight Therapeutics Inc. (TSE: GUD). the $3.6 million senior secured loan will be used by Appili to withdraw the previously announced senior convertible financing agreement with Lind Partners and for working capital purposes.
Under the terms of the agreement, LZH will issue a secured loan of $3.6 million bearing interest at a minimum rate of 8.5% per annum, compounded quarterly, with a maturity of March 28, 2025. Appili expects to receive net proceeds of approximately $3.5 million financing (after deducting the total costs of $108,000, including in respect of a working fee and an arrangement fee payable to LZH). LZH will also receive 1,500,000 cash equity warrants, exercisable for seven years, with a warrant exercise price of CA$0.115equal to the 5-day volume-weighted average price (“VWAP”) immediately prior to execution of the Contract.
In addition, Appili will grant LZH an exclusive license to market Appili’s future licensed products in Latin America, Canadaand Israel (collectively, the “Territory”), excluding ATI-1501 in Latin Americawhich was recently licensed to an existing partner Saptalis Pharmaceuticals. Appili will receive a supply price for products sold by LZH or its sublicensees, as well as royalties on net sales.
“We are thrilled to announce this non-dilutive financing agreement and partnership to help advance our pipeline and ultimately bring our products to Canadian, Israeli and Latin American markets,” said Dr. Armand BalboniChief Executive Officer, Therapeutic Device. “Infectious diseases are a global threat and funding for LZH, in addition to more than $10 million non-dilutive financing expected from the US Department of Defensehelp bring Appili even closer to delivering its portfolio of innovative medicines to patients around the world.’
The loan will be secured by all assets and property of the Company under a general security agreement. The transaction contemplated under the Agreement has been conditionally approved by the Toronto Stock Exchange.
“Appili focuses on some of the world’s toughest infectious disease threats, as evidenced by the fact that two of Appili’s programs in development will, if approved by the FDA, be eligible to receive a good review. priority. Priority review vouchers have sold for as little as $67 million and as high as $350 million. Knight was lucky enough to sell his priority review voucher for $125 million in Gilead in November 2014. We are thrilled to partner with Appili to help address these urgent unmet public health needs while creating significant shareholder value in the process,” said Jonathan Ross Goodman, Long Zone Holdings Inc.
This press release does 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 “we Securities Act’), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in United States Where we Persons (as both of these terms are defined in Regulation S promulgated under the we Securities Act) in the absence of registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy and there will be no sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.
On Therapeutic Device
Therapeutic Device is an infectious disease biopharmaceutical company that is deliberately built, portfolio-driven, and people-focused to fulfill its mission of solving life-threatening infections. By systematically identifying urgent infections with unmet needs, Appili’s goal is to strategically develop a pipeline of new therapies to prevent deaths and improve lives. The company is currently developing a diverse line of anti-infectives, including a broad-spectrum antifungal, a vaccine candidate to eliminate a serious bioweapon threat, and two new antibiotic programs. Led by a proven management team, Appili is at the epicenter of the global fight against infections. For more information, visit www.AppiliTherapeutics.com.
On Long Zone Holdings Inc.
Long Zone Holdings Inc. is based at Montreal Canada and founded by Jonathan Ross Goodman with its product $3.2 billion sales of Paladin Labs Inc.. Long Zone Holdings Inc. is named after the first letters of Jonathan’s 3 young children to reflect Long Zone’s investment horizon. Long Zone holds a number of important positions in pharmaceutical and health-related companies, including specialty pharmaceutical companies Knight Therapeutics Inc. (TSE: GUD) and IBS gut friendly private company Fody Foods Company Inc. (www.fodyfoods.com).
This press release contains “forward-looking statements,” including with respect to proposed use, future development and commercialization plans, future funding (including US Department of Defense) and the potential eligibility of certain company programs for a priority review voucher. Where possible, words such as “may”, “would”, “could”, “should”, “should”, “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 Company’s management’s current expectations regarding future growth, results of operations, performance and business prospects and opportunities and involve important known and unknown risks, uncertainties and assumptions, including, without limitation, risks relating to the development, regulatory approval (including availability of priority review voucher) and commercialization of any approved product, risks relating to the Company’s ability to obtain future financing , and the other risks listed in the Company’s Annual Information Form dated June 23, 2021 and other documents filed by the Company with the Canadian securities 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 differ materially from those expressed or implied by the forward-looking statements contained herein. Press release. These factors should be carefully considered and potential investors should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
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