15. April 2016

Akari Therapeutics Plc and XL-protein GmbH Sign License Agreement to Develop a Long Acting Version of Coversin Using PASylation® Technology

NEW YORK, LONDON, and FREISING, Germany, April 14, 2016 (GLOBE NEWSWIRE) — Akari
Therapeutics (NASDAQ: AKTX), an emerging growth, development-stage biopharmaceutical
company, and XL-protein, a privately owned biopharmaceutical company, announced today that
they have entered into a License, Development and Commercialization Agreement. This partnership
is focused on developing a second generation, longer acting version of Coversin.
Under this collaboration agreement, XL-protein will apply its proprietary PASylation® technology for
drug half-life extension to Coversin. Coversin is a second-generation complement inhibitor that acts
on complement component-C5, preventing release of C5a and formation of C5b-9 (also known as
the membrane attack complex or MAC).
XL-protein has previously demonstrated that it can manufacture recombinant PASylated Coversin.
An initial study conducted in a mouse model indicates that PASylated Coversin administered by
subcutaneous injection remains fully active, with the high C5 binding activity of Coversin retained. In
this study, it was found that PASylation of Coversin extended the plasma half-life by over 50 fold.
“XL-protein’s PASylation technology provides an elegant approach to extending the half-life of
Coversin, which we hope to demonstrate in future studies will reduce the frequency of dosing,” said
Miles Nunn, Chief Scientific Officer of Akari Therapeutics. “Our current plan is to investigate the
relative performance of PASylated Coversin, administered by the subcutaneous route, in animal
models of disease. If successful, we expect to progress PASylated Coversin to the clinic.”
“We are delighted to enter into the partnership with Akari Therapeutics; the data from the initial
study indicate that PASylation could lead to a longer acting, less frequently dosed, subcutaneous
version of Coversin”, commented Claus Schalper, Chief Executive Officer of XL-protein. “XL-protein
successfully continues to add collaborations with renowned partners that can leverage our best-inclass
half-life extension technology.”
Under the terms of the agreement, XL-protein will receive an upfront payment as well as payments
for achievement of preclinical, clinical, regulatory and commercial milestones. Furthermore, XLprotein
will receive royalties on sales from marketed compounds resulting from the collaboration.
Further financial terms have not been disclosed.
About XL-protein GmbH
XL-protein is a German biotech company commercializing the ground-breaking PASylation®
technology, which enables the design of biopharmaceuticals with extended plasma half-life
and enhanced action. With its strong proprietary technology position XL-protein focuses at the
preclinical as well as clinical development of PASylated proteins in various disease areas. The
company is located at Freising, Germany, in the neighbourhoods of Munich International Airport and
the Technical University of Munich. (www.xl-protein.com)
About Akari Therapeutics Plc
Akari is a clinical-stage biopharmaceutical company focused on the development and
commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory
diseases. Akari’s lead drug, Coversin is a second-generation complement inhibitor that acts on
complement component-C5, preventing release of C5a and formation of C5b-9 (also known as the
membrane attack complex or MAC). C5 inhibition is growing in importance in a range of rare
autoimmune diseases related to dysregulation of the complement component of the immune
system, including Paroxysmal Nocturnal Hemoglobinuria (PNH), atypical Hemolytic Uremic
Syndrome (aHUS), and Guillain Barré syndrome (GBS).
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our
current views about our plans, intentions, expectations, strategies and prospects, which are based
on the information currently available to us and on assumptions we have made. Although we believe
that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by
those forward-looking statements are reasonable, we can give no assurance that the plans,
intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may
differ materially from those described in the forward-looking statements and will be affected by a
variety of risks and factors that are beyond our control. Such risks and uncertainties for our company
include, but are not limited to: an inability or delay in obtaining required regulatory approvals for
Coversin and any other product candidates, which may result in unexpected cost expenditures; risks
inherent in drug development in general; uncertainties in obtaining successful clinical results for
Coversin and any other product candidates and unexpected costs that may result therefrom; failure
to realize any value of Coversin and any other product candidates developed and being developed in
light of inherent risks and difficulties involved in successfully bringing product candidates to market;
inability to develop new product candidates and support existing product candidates; the approval
by the FDA and EMA and any other similar foreign regulatory authorities of other competing or
superior products brought to market; risks resulting from unforeseen side effects; risk that the
market for Coversin may not be as large as expected; inability to obtain, maintain and enforce
patents and other intellectual property rights or the unexpected costs associated with such
enforcement or litigation; inability to obtain and maintain commercial manufacturing arrangements
with third party manufacturers or establish commercial scale manufacturing capabilities; the
inability to timely source adequate supply of our active pharmaceutical ingredients from third party
manufacturers on whom the company depends; our inability to obtain additional capital on
acceptable terms, or at all; unexpected cost increases and pricing pressures; uncertainties of cash
flows and inability to meet working capital needs; and risks and other risk factors detailed in our
public filings with the U.S. Securities and Exchange Commission, including our Annual Report on
Form 10-K filed on March 23, 2016. Except as otherwise noted, these forward-looking statements
speak only as of the date of this press release and we undertake no obligation to update or revise
any of these statements to reflect events or circumstances occurring after this press release. We
caution investors not to place considerable reliance on the forward-looking statements contained in
this press release.

XL-protein GmbH
Claus Schalper, CEO

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