AmpliPhi BioSciences completes sale of $18M of common stock in private placement financing

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.