Full Press Release Details
Akari Therapeutics Announces New Data Highlighting Differentiation
of Drug Candidate Coversin
NEW YORK and LONDON, November 30, 2018 - Akari Therapeutics,
Plc (NASDAQ:AKTX), a biopharmaceutical company focused on innovative therapeutics to treat orphan autoimmune and inflammatory diseases
where the complement and/or leukotriene systems are implicated, today announced recent developments and supporting data which underscore
the differentiation of Coversin.
"We are encouraged by new data
that demonstrates the potential for improved patient comfort and ease of use. Alongside this focus on patient convenience we continue
to develop Coversin as a differentiated treatment by means of its combined complement C5 and LTB4 inhibitory activity with early
data readouts of our bullous pemphigoid (BP) and atopic keratoconjunctivitis (AKC) trials expected in first quarter 2019,"
said Clive Richardson, Interim Chief Executive Officer of Akari Therapeutics.
Clinical program update
About Akari Therapeutics
Akari is a biopharmaceutical company focused on developing inhibitors of acute and chronic inflammation, specifically for the treatment
of rare and orphan diseases, in particular those where the complement (C5) or leukotriene (LTB4) systems, or both complement and
leukotrienes together, play a primary role in disease progression. Akari's lead drug candidate, Coversin, is a C5 complement inhibitor
that also independently and specifically inhibits leukotriene B4 (LTB4) activity. Coversin is currently being clinically evaluated
in four indications: bullous pemphigoid (BP), atopic keratoconjunctivitis (AKC), atypical hemolytic uremic syndrome (aHUS), and
paroxysmal nocturnal hemoglobinuria (PNH). Akari believes that the dual action of Coversin on both C5 and LTB4 may be beneficial
in AKC, BP, and aHUS. Akari is also developing other tick derived proteins, including longer acting versions.
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, our ability to continue as a going concern; uncertainties of cash flows and inability to meet working capital
needs; an inability or delay in obtaining required regulatory approvals for Coversin and any other product candidates, which may
result in unexpected cost expenditures; our ability to obtain orphan drug designation in additional indications; 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; difficulties enrolling patients in our clinical trials; 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; risks associated with the departure of our former Chief Executive Officers and other executive officers;
risks related to material weaknesses in our internal controls over financial reporting and risks relating to the ineffectiveness
of our disclosure controls and procedures; risks associated with the putative shareholder class action and SEC investigation;
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; unexpected cost increases and pricing pressures and
risks and other risk factors detailed in our public filings with the U.S. Securities and Exchange Commission, including our
most recently filed Annual Report on Form 20-F filed with the SEC on July 18, 2018. 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.
For more information
Mary-Jane Elliott / Sukaina Virji / Nicholas
Consilium Strategic Communications