ASIT Biotech Successfully Completes the First Tranche if its Capital Increase and Raises €9.4 Million

Brussels, Belgium, 25 January 2018 - 6:30 pm (CET) – ASIT Biotech (ASIT - BE0974289218), a Belgian clinical-stage biopharmaceutical company focused on the research, development and future commercialization of breakthrough immunotherapy products for the treatment of allergies, today announces that it has raised €9.4 million within the framework of the first phase of the private placement financing approved by the Shareholders Meeting on 7 December, 2017. A second subscription phase is currently taking place, and the Company has every hope it will obtain a swift subscription of the remaining €2 million of shares that can still be subscribed to on the basis of the approval granted by the Shareholders Meeting on 7 December.

Thierry Legon, CEO of ASIT biotech, commented: “I would like to thank all of our longstanding and new shareholders who have put their trust in us and have contributed to the success of this capital increase. The funds raised under the conditions approved by our Shareholders Meeting will enable us to continue the development of drug candidates, the aim being to treat millions of people suffering from allergies. Thanks to this novel financing comprising the simultaneous issuance of subscription rights, we have the possibility of raising up to a further €23 million over the coming two years if all the warrants issued are exercised.”

The capital increase, for a total amount of €9,408,180.52 issuance premium included, was enacted via the issuance of 2,456,444 new shares, at the price of €3.83 per share, with no discount on the average share price over the 30 days preceding the launch of the operation (on 7 December, 2017).

Moreover, the Shareholders Meeting on 7 December, 2017, having approved the issuance of a total of 3,000,000 new shares, an additional 543,556 shares can still be subscribed to during the ongoing second subscription phase, which would correspond to an additional subscription of approximately €2.1 million at the price of €3.83 per share.

Each newly issued share is coupled with two warrants enabling the holder to subscribe to two new shares at the price of €3.83 per share. The first warrant may be exercised by 30 June, 2018 and the second by 31 December, 2019. The second warrant may only be exercised if the first has already been exercised beforehand. These warrants are not transferable.

The exercise of these warrants would increase the Company’s share capital by an additional €23 million and provide long-term support to the development of drug candidates with total funds raised possibly reaching €34 million.

Assuming all issued shares are subscribed to and all attached warrants are exercised, the funds raised will enable the following financing needs to be


* the clinical development of gp-ASIT+™, the Company’s most-advanced drug candidate, for grass pollen rhinitis, which is due to begin its second phase III study in the second half of 2018;

* food allergy R&D, notably with a first clinical trial for peanut allergy scheduled to start during the second half of 2018;

* the completion of preclinical trials and conduct clinical trials (phase I/II and phase II) for house dust mite rhinitis with a new improved

hdm-ASIT+™ product (clinical trials due to be initiated in early 2019).

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