AmpliPhi Biosciences Closes $18 Million Private Placement
RICHMOND, Va. & COLWORTH, United Kingdom & SYDNEY -- December 24, 2013
AmpliPhi BioSciences Corporation (OTCBB:APHB), the global leader in the
development of bacteriophage-based antibacterial therapies to treat drug
resistant infections, announced today that it has completed the sale of
approximately $18 million of common stock in a private placement financing.
The Company has issued an aggregate of 72,007,000 shares of the Company’s
common stock at a price per share of $0.25. Net proceeds from the placement
are approximately $16.9 million.
“We are very pleased to have the support of both existing and new life science
investors”, said Philip J. Young, President and Chief Executive Officer of
AmpliPhi. “The financing will allow us to accelerate development of the
company’s bacteriophage-containing human therapeutics for use in the treatment
of bacterial infections.”
Roth Capital Partners and Griffin Securities, Inc. served as placement agents
for the offering.
The securities offered in this private placement transaction have not been
registered under the Securities Act of 1933, as amended (the “Securities
Act”), or applicable state securities laws. Accordingly, the securities may
not be offered or sold in the United States except pursuant to an effective
registration statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state securities laws.
Pursuant to the terms of a registration rights agreement entered into with the
investors, the Company has agreed to file a registration statement with the
Securities and Exchange Commission registering the resale of the shares of
common stock sold in the offering. Any offering of the Company’s securities
under the resale registration statement referred to above will be made only by
means of a prospectus.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy the securities, nor shall there be any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws
of such jurisdiction.
About AmpliPhi BioSciences
AmpliPhi BioSciences Corporation (OTCBB:APHB) is a biotechnology company
focused on the development and commercialization of novel bacteriophage-based
therapeutics. The Company’s product development programs target infections
that are often resistant to existing antibiotic treatments. AmpliPhi is
collaborating with a number of leading organizations, including Intrexon
Corporation (NYSE:XON), the U.S. Army and UK-based University of Leicester, to
rapidly advance bacteriophage-based therapies. The Company is US-headquartered
in Richmond, Virginia and has operations in Colworth, UK and Sydney,
Australia. For more information, visit www.ampliphibio.com.
Bacteriophages are naturally occurring viruses that are highly specific for
the bacterial hosts they infect. They can rapidly kill their host, amplifying
themselves in the process. Bacteriophages are unaffected by antibiotic
resistance and are able to disrupt bacterial biofilms. Such biofilms are a
major line of defence for bacteria, contributing to antibiotic resistance.
Bacteriophages are able to penetrate biofilms and replicate locally to high
levels, to produce strong local therapeutic effects.
Forward Looking Statements
To the extent that this press release discusses expectations or otherwise
makes statements about the future, such statements are forward-looking and are
subject to a number of risks and uncertainties that could cause actual results
to differ materially from the statements made, including without limitation
the risk that bacteriophage-based therapies may not be successfully developed,
will require extensive and expensive pre-clinical and clinical testing, may
not be safe or efficacious, and may not be approved for marketing by the
United States Food and Drug Administration or any foreign regulatory agency.
The Company does not undertake any obligation to update any forward-looking
statements to reflect future events or circumstances after the date of such
Investors and Media Contact:
AmpliPhi Biosciences Corp.
Baxter Phillips III, +1-804-754-5442
Vice President, Corporate Strategy and Business Development
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