LIKMEZ™ (ATI-1501) for Metronidazole Oral Suspension 500mg/5mL launched and commercial sales ongoing Funding commitments from U.S. Air Force Academy intended to advance ATI-1701 toward an IND submission to the FDA Engaging regulatory authorities to align on ATI-1801 development plans  HALIFAX, Nova Scotia, June 25, 2024 (GLOBE NEWSWIRE) -- Appili Therapeutics Inc. (TSX:APLI, OTC:APLIF) (the "Company" or "Appili"), a biopharmaceutical company focused on drug development for infectious diseases and medical countermeasures, today announced its financial and operational results for the fiscal year ended March 31, 2024 ("FYE 2024"), and provided an update on the Company's strategy for fiscal 2025. All figures are stated in Canadian dollars unless otherwise stated. "Notably, during this past fiscal year, the Company's most advanced asset LIKMEZ (ATI-1501), received U.S. Food and Drug Administration ("FDA") approval, and together with our partner, Saptalis launched the product and commercial sales which remain ongoing. The launch of LIKMEZ, shortly after securing patent coverage through 2039, is an important milestone that demonstrates Appili's ability to identify promising opportunities, accelerate their development, and unlock value for the benefit of both patients and shareholders," said Don Cilla, Pharm.D., M.B.A., President and Chief Executive Officer of Appili. "The U.S. Air Force Academy ("USAFA") also awarded funding commitments for the advancement of ATI-1701, bringing the total program funding awarded to approximately US$14 million. These funding commitments strengthen Appili's foundation in biodefense and should enable us to continue to advance this program towards an Investigational New Drug ("IND") application." LIKMEZ™ ATI-1501, is FDA Approved for the Treatment of Anaerobic bacterial Infections, During FYE 2024, Appili announced the FDA approval of LIKMEZ™ (ATI-1501), our proprietary taste-masked liquid suspension formulation of metronidazole, through our U.S. partner, Saptalis Pharmaceuticals LLC ("Saptalis"). LIKMEZ is the first and only FDA approved ready-made suspension of metronidazole for the treatment of antimicrobial infections that addresses the unmet need in patients with dysphagia to avoid risks associated with drug compounding, and discontinuation related anti-microbial resistance. Saptalis launched LIKMEZ in November 2023 and commercial sales in the United States are ongoing. In May 2023, United States Patent and Trademark Office published patent claims for ATI-1501 under the US Application No. 18/072,154, which covers the composition and preparation methods for the drug through 2039. Collaborating with Saptalis, Appili earned US$600,000 in milestone payments during FYE 2024. Appili expects to receive additional sales-based milestone payments and royalties from Saptalis based on sale of the product. ATI-1701, Biodefense Vaccine Candidate with Funding Awarded from the U.S. Air Force Academy ATI-1701, a novel, live-attenuated vaccine for the prevention of F. Tularensis, has received awards totaling US$14 million from the U.S. Air Force Academy ("USAFA"). Under the terms of the USAFA Cooperative Agreement, Appili will oversee a comprehensive development program for ATI-1701, which includes nonclinical studies, CMC/manufacturing, clinical preparatory, and regulatory activities to support an IND submission in 2025. Appili has had interactions with the FDA in the form of a pre-IND meeting, confirming the development pathway for the Company's efforts through IND submission and is incorporating suggested changes in the development plan. ATI-1801, our Licensed Topical Antiparasitic Product demonstrated safe and effective across Phase 3 studies. ATI-1801 is a novel topical formulation of ...