Aditxt Signs a Transaction Agreement to Acquire AiPharma, Rights Holder of Antiviral Tablet Avigan/Reeqonus/Qifenda Used in the Treatment of Over 1.5 Million COVID-19 Patients Outside the U.S. and Canada
Phase 3 clinical trial of Avigan/Reeqonus for treatment of COVID-19 completed enrollment of more than 1,200 patients in the
AiPharma Global is a biopharmaceutical company that holds directly, or through its affiliates worldwide (excluding
The acquisition, if completed, will form a business segment for
The acquisition is subject to confirmatory due diligence, entry into a definitive agreement based on agreed terms and other closing conditions, including regulatory, board, shareholder, and Nasdaq approvals. There is no assurance that the aforementioned approvals will be granted.
AiPharma acquisition highlights:
- Avigan has received full marketing authorization or emergency use authorization in a number of markets as a treatment for COVID-19 including
Mexico, India, Indonesia, Thailandand Malaysia, with many other countries buying the drug under compassionate use programs including the United Kingdom, United Arab Emirates, Greece, Hungaryand Saudi Arabia.
- AiPharma Global generates revenues from worldwide sales outside the
U.S.and Canadaof Avigan/Reeqonus through its 50% equity stake in Global Response Aid (“GRA”). GRA is part of a consortium that includes Appili Therapeutics(TSX: APLI; OTCQX: APLIF), Dr. Reddy’s Laboratories(NYSE:RDY), Agility (KSE/DFM: AGLTY) and FUJIFILM Toyama Chemical Co. Ltd, a subsidiary of FUJIFILM Holdings (FUJIY). The consortium members work together to coordinate and accelerate the worldwide development of Avigan/Reeqonus.
- Consortium partner
Appili Therapeuticsis running a global Phase 3 trial evaluating Avigan/Reeqonus as an oral at-home therapy for COVID-19 and recently announced completion of patient enrollment with top line data expected in approximately 60 days.
- AiPharma Global has recently agreed to acquire a major stake in
Appili Therapeuticsto strengthen its collaboration on the development of favipiravir and other treatments for infectious diseases. AiPharma Global expects to own 19.4% of the issued and outstanding Appili shares following the closing of its transaction expected Q4 2021.
- Favipiravir is a selective inhibitor of viral RNA-dependent RNA polymerase (RdRP) with potent antiviral activity against single-stranded RNA viruses, including coronaviruses. Avigan/Reeqonus/Qifenda is uniquely positioned to address the current COVID-19 pandemic and future viral outbreaks.
“The successful completion of this acquisition would accelerate our commercialization plans in the infectious disease space and would uniquely position
About Avigan/Reeqonus/Qifenda (favipiravir)
Avigan/Reeqonus/Qifenda (favipiravir) is a broad-spectrum antiviral in oral tablet form developed by
Additional clinical trials for favipiravir in COVID-19 are ongoing in
Avigan is approved for manufacture and sale in
About AiPharma Global
AiPharma Global is a biopharmaceutical company focused on discovering, developing, and commercializing oral therapies to address the unmet medical needs of patients with life-threatening viral diseases. Leveraging the Company’s deep understanding of antiviral drug development, nucleotide chemistry, biology, biochemistry, and virology, AiPharma Global has built a nucleotide prodrug platform to develop novel product candidates to treat single-stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of severe viral diseases. Currently, AiPharma Global is focused on the clinical and commercial development of orally available, potent, and selective nucleotide prodrugs for difficult-to-treat, life-threatening viral infections, including severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, dengue virus, hepatitis C virus (HCV) and respiratory syncytial virus (RSV). AiPharma Global also holds exclusive commercial rights for Avigan in
For more information, please visit www.aipharmalab.com.
Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company’s ongoing and planned product and business development; the Company’s intellectual property position; the Company’s ability to develop commercial functions; expectations regarding product launch and revenue; the Company’s results of operations, cash needs, spending, financial condition, liquidity, prospects, growth and strategies; the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, as well as those risks more fully discussed in the section titled “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s other filings with the
Media and Investor Relations Contact: