Akari Therapeutics Announces $7.6 Million Private Placement Offering Led by Existing Shareholders and Insiders Priced at the Market Under Nasdaq Rules

BOSTON and LONDON, March 03, 2025 (GLOBE NEWSWIRE) -- Akari Therapeutics Plc (Nasdaq: AKTX), a biotechnology company developing next-generation precision bi-functional antibody drug conjugates (ADCs) for the treatment of cancer, today announced the successful pricing of a private placement financing round. This transaction is expected to raise an aggregate of approximately $7.6 million in gross proceeds. With these funds the Company will focus on investing in its novel spliceosome inhibitor payload ADC technology platform, seeking license partners for its TROP-2 ADC program, and monetizing non-core assets.

“We were very pleased that the private placement was supported by existing investors and our Board of Directors, all of whom participated in this financing,” said Samir R. Patel, MD, President and CEO of Akari Therapeutics. Dr. Patel added that, “I am very encouraged by this show of confidence and continued significant interest from our long-term investors.”

The Company entered into definitive purchase agreements with the investors for the issuance and sale of 6,637,626 unregistered American Depository Shares (ADSs), or prefunded warrants in lieu thereof, and Series A Warrants and Series B Warrants (“the Offering”). The ADSs were priced at $0.87 per ADS, the Nasdaq official closing price on February 28, 2025. Investors paid an additional 12.5 cents per ADS issuable upon exercise of each warrant to be issued. Dr. Huh, Chairman of the Board, participated in the Private Placement by agreeing to terminate an existing $1 million convertible note in lieu of payment of the purchase price for the ADSs and warrants. 

The gross cash proceeds from the Offering are expected to be approximately $ 6.6 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.  

The Series A and Series B Warrants will have an exercise price of $0.87 per ADS, which is equal to the Nasdaq official closing price of the Company’s ADSs on February 28, 2025 and will be exercisable immediately following the date of issuance. The Series A Warrants and Series B Warrants have a term of one or five years, respectively, from the closing date of the private placement. 

Paulson Investment Company LLC is acting as placement agent for the financing. 

The private placement is expected to close on or about March 5, 2025, subject to the satisfaction of customary closing obligations.  

The ADSs and warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated thereunder and have not been registered under the Act or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

About Akari Therapeutics 

Akari Therapeutics is a biotechnology company developing next-generation precision bi-functional antibody drug conjugates (ADC) for the treatment of cancer. Utilizing its innovative ADC discovery platform, the Company has the ability to generate novel bi-functional ADC candidates and optimize them based on the desired application to target a range of cancers to fuel a growing pipeline. Akari’s lead candidate, AKTX-101, targets the TROP2 receptor on cancer cells and with a proprietary linker delivers its novel PH1 payload directly into the tumor. Unlike current ADCs that use tubulin inhibitors and DNA damaging agents as their toxin classes, PH1 is a novel bi-functional payload that is designed to disrupt RNA splicing within cancer cells, inducing tumor-specific cell death while generating immunostimulatory effects and minimizing off-target toxicity. Given this mechanism, AKTX-101 has the potential to overcome many of the shortcomings of current ADCs, off-target toxicity and resistance. In preclinical studies, AKTX-101 has shown to have superior activity, prolonged survival, less resistance and better tolerability and safety. Additionally, AKTX-101 has the potential to be synergistic with checkpoint inhibitors and has demonstrated prolonged survival in preclinical models. The Company is generating validating data on its novel payloads to advance its pipeline. 

For more information about the Company, please visit and connect on and . 

Cautionary Note Regarding Forward-Looking Statements  

This press release includes express or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), about the Company that involve risks and uncertainties relating to future events and the future performance of the Company. Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity” “will likely result,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding the closing of the Offering and the expected use of proceeds related thereto: the business combination and related matters, including, but not limited to, post-closing operations and the outlook for the Company’s business; the Company’s targets, plans, objectives or goals for future operations, including those related to its product candidates; financial projections; future economic performance,; and the assumptions underlying or relating to such statements. These statements are based on the Company’s current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: the risk that Akari and Peak Bio may not realize the anticipated benefits of the merger with Peak Bio (the “Merger”) in the time frame expected, or at all; the ability to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the Merger; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the combined business; uncertainties as to the long-term value of Akari’s American Depositary Shares (and the ordinary shares represented thereby), including the dilution caused by Akari’s issuance of additional American Depositary Shares (and the ordinary shares represented thereby) in connection with the Merger; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of the Company’s programs or product candidates; risks related to any loss of the Company’s patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for the Company’s product candidates, including as a result of potential tariffs;, the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by the Company and/or its collaborators or licensees; the extent to which the results from the research and development programs conducted by the Company, and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of the Company’s product candidates; unexpected breaches or terminations with respect to the Company’s material contracts or arrangements; risks related to competition for the Company’s product candidates; the Company’s ability to successfully develop or commercialize its product candidates; potential exposure to legal proceedings and investigations; risks related to changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing, development or commercialization of any of the Company’s product candidates; and the Company’s ability to maintain listing of its ADSs on the Nasdaq Capital Market. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release. 

Investor Relations Contact 

JTC Team, LLC 

Jenene Thomas  

908-824-0775