Full Press Release Details
Akari Therapeutics Announces Edison's
Withdrawal of Edison Report titled "Akari's Coversin matches Soliris in Phase II"
NEW YORK and LONDON, April 27, 2017 (GLOBE
NEWSWIRE) -- Akari Therapeutics (NASDAQ: AKTX), an emerging growth, clinical-stage biopharmaceutical company, released today a
statement that Edison Investment Research Ltd. has withdrawn its report issued yesterday titled "Akari's Coversin
matches Soliris in Phase II" (the "Edison Report") because it contains material inaccuracies, including without
limitation, with respect to Akari's recently announced interim analysis of its ongoing Phase 2 PNH trial of Coversin. Investors
should not rely upon any information contained in the Edison Report and instead should refer to Akari's press release issued
on April 24, 2017 that discusses the interim analysis of its ongoing Phase 2 PNH trial and other matters.
About Akari Therapeutics Plc
Akari is a clinical-stage biopharmaceutical
company focused on the development and commercialization of life-transforming treatments for a range of rare and orphan autoimmune
and inflammatory diseases caused by dysregulation of complement C5 and Leukotriene B4 (LTB4), including paroxysmal nocturnal hemoglobinuria
("PNH"), atypical Hemolytic Uremic Syndrome ("aHUS"), and Guillain Barr syndrome ("GBS").
Akari's lead product candidate, Coversin complement inhibitor, a second-generation complement inhibitor, acts on complement
component-C5, preventing the release of C5a and the formation of C5b-9 (also known as the membrane attack complex or MAC),
and independently also inhibits LTB4 activity. 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 PNH, aHUS, and GBS. Exploiting the power of nature,
Akari is also developing other tick derived proteins and expects to bring additional compounds to clinical trials over the next
several years. The pipeline is focused on developing bioengineered versions of native tick salivary proteins that act as anti-inflammatory
compounds allowing the tick to remain on its host. These compounds include PGP sparing LTB4 inhibitors, classical and alternative
complement inhibitors, anti-histamines, and serotonin inhibitors as examples. Akari is also developing engineered forms that allow
for potential oral absorption, as, for example, a potential orally absorbed C5 inhibitor, and tissue specific proteins, as, for
example, Coversin that acts specifically at the neuromuscular junction for diseases like myasthenia gravis
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: needs for
additional capital to fund our operations, 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 20-F filed on March 31, 2017. 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.
Susan Forman / Laura Radocaj