AmpliPhi Biosciences Announces Closing of Public Offering

SAN DIEGO--()--AmpliPhi Biosciences Corporation (NYSE MKT: APHB), a biotechnology company focused on the development of therapies for drug-resistant bacterial infections using bacteriophage technology, today announced the closing of its previously announced underwritten public offering. Total proceeds to AmpliPhi from the offering were approximately $9.1 million, after deducting the underwriting discount and commissions and estimated offering expenses payable by AmpliPhi, and excluding any proceeds that may be received upon exercise of the common warrants. AmpliPhi sold 7,067,419 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof), including 110,897 shares of common stock sold pursuant to the partial exercise of the underwriter’s option to purchase additional shares, and common warrants to purchase 8,000,000 shares of common stock, including common warrants to purchase up to 1,043,478 shares of common stock sold pursuant to the full exercise of the underwriter’s option to purchase additional common warrants. AmpliPhi anticipates using the net proceeds from the offering for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses and general and administrative expenses.

Rodman & Renshaw, a unit of 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 May 4, 2017. In addition, a separate registration statement relating to these securities was filed with the SEC pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and became automatically effective on May 4, 2017. Copies of the final prospectus relating to the offering can 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 biotechnology company pioneering the development and commercialization of therapies for antibiotic-resistant infections using bacteriophage-based technology. In May 2017, AmpliPhi announced a new strategic emphasis on developing precisely targeted and personalized bacteriophage therapies for patients with serious or life-threatening antibiotic-resistant infections. AmpliPhi has reported results from two Phase 1 clinical trials of AB-SA01, one for the treatment of S. aureus in chronic rhinosinusitis patients (safety and preliminary efficacy) and one to evaluate the safety of AB-SA01 when administered topically to the intact skin of healthy adults.

About Bacteriophage

Bacteriophages, or more simply “phages,” are the natural predators of bacteria and are thought to be the most abundant life form on earth. Over eons, phages have evolved an incredible diversity of specialist strains that typically prey upon just one strain 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 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, 2016, as filed with the SEC, and other 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.

Contacts

At the Company:
AmpliPhi Biosciences
Matthew Dansey, 858-800-4869
md@ampliphibio.com
or
Investor Relations:
LHA
Jody Cain, 310-691-7100
jcain@lhai.com

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