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Press Release

AmpliPhi Biosciences Announces Closing of Public Offering

AmpliPhi Biosciences Corporation
Posted on: 19 Oct 18

AmpliPhi Biosciences Corporation (NYSE AMERICAN: APHB), a clinical-stage biotechnology company focused on precisely targeted bacteriophage therapeutics for patients with serious and life-threatening antibiotic-resistant bacterial infections, today announced the closing of its previously announced underwritten public offering. Gross proceeds to AmpliPhi from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $6.8 million. AmpliPhi sold 17,000,000 shares of common stock, or pre-funded warrants in lieu thereof, including 462,500 shares sold pursuant to the partial exercise of the underwriter’s option to purchase additional shares, and common warrants to purchase 17,500,000 shares of common stock, including common warrants to purchase 962,500 shares sold pursuant to the underwriter’s partial exercise of its option to purchase additional common warrants. The common warrants are immediately exercisable at a price of $0.40 per share of common stock and will expire five years from the date of issuance. AmpliPhi anticipates using the net proceeds from the offering for general corporate purposes, including manufacturing expenses, research and development expenses and general and administrative expenses. AmpliPhi currently has 32,293,308 shares of common stock outstanding.

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on October 11, 2018. The offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained for free by visiting the SEC’s website at http://www.sec.gov, or alternatively from the offices of H.C. Wainwright & Co., LLC by email at placements@hcwco.com or by phone at 646-975-6996.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About AmpliPhi Biosciences

AmpliPhi Biosciences Corporation is a clinical-stage biotechnology company focused on treating antibiotic-resistant infections using its proprietary bacteriophage-based technology. AmpliPhi’s lead clinical stage product candidates, AB-SA01 and AB-PA01, target multidrug-resistant Staphylococcus aureus and Pseudomonas aeruginosa, which are included on the WHO’s 2017 Priority Pathogens List. Phage therapeutics are uniquely positioned to address the threat of antibiotic-resistance as they can be precisely targeted to kill select bacteria, have a differentiated mechanism of action, can penetrate and disrupt biofilms (a common bacterial defense mechanism against antibiotics), are potentially synergistic with antibiotics and have been shown to restore antibiotic sensitivity to drug-resistant bacteria. For more information visit www.ampliphibio.com.

About Bacteriophages

Bacteriophages, or more simply “phages,” are the natural predators of bacteria and are thought to be the most abundant life form on earth. Phages have evolved an incredible diversity of strains that typically prey upon just a few closely related strains or species of bacteria, enabling phage therapies to precisely target pathogenic bacteria while sparing the beneficial microbiota. Phages can infect and kill bacteria, whether they are antibiotic-resistant or not, and even when they have formed protective biofilms.

Forward Looking Statements

Statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements about AmpliPhi’s expectations regarding the anticipated use of the net proceeds from the public offering. Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “will,” “may,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with AmpliPhi’s business and financial condition in general, including the risks and uncertainties described in AmpliPhi’s Annual Report on Form 10-K for the year ended December 31, 2017, as filed with the SEC, and AmpliPhi’s subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and AmpliPhi undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181016006036/en/

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Last updated on: 19/10/2018

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