Aditxt Signs Second Amendment To The Arrangement Agreement With Appili Therapeutics, Targeting September 30 Closing Of The Acquisition; Appili, With A Commercial-Stage Pipeline, Has Raised CAD$100M Towards Developing Therapeutics For The Global Infectious Disease And Biodefense Markets

Author: Benzinga Newsdesk | July 25, 2024 08:37am

Appili, with a commercial-stage pipeline, has raised CAD $100M towards developing therapeutics for the global infectious disease and biodefense markets. Subject to the renewal of certain legislation, two programs are potentially eligible for FDA Priority Review Vouchers

Aditxt, Inc. ("Aditxt") (NASDAQ:ADTX), a company dedicated to discovering, developing, and deploying promising health innovations, and its wholly-owned subsidiary, Adivir, Inc., have entered into a second Amending Agreement (the "Amending Agreement") with Appili Therapeutics Inc. ("Appili") (TSX:APLI, OTC:APLIF), a biopharmaceutical company developing treatments and vaccines for infectious diseases and medical countermeasures. Under the Amending Agreement, (a) the Outside Date (as defined in the Arrangement Agreement) was changed from August 30, 2024 to September 30, 2024, (b) the deadline to convene Appili's special shareholders' meeting was changed from August 30, 2024, to September 30, 2024, and (c) the deadline for Aditxt to complete the Financing (as defined below) was changed from August 30, 2024 to September 15, 2024, or such later date as the parties may agree in writing. Aditxt will acquire all issued and outstanding Class A common shares of Appili through a court-approved plan of arrangement governed by the Canada Business Corporations Act. The transaction is targeted for closure by September 30, 2024.

Posted In: ADTX APLIF TSX:APLI