Akari Therapeutics Announces Preclinical Ophthalmic Data Showing Nomacopan Reduces Both Vascular Endothelial Growth Factor (VEGF) and Retinal Inflammation Supporting Nomacopan as a Potential Treatment Option for Back-of-

Akari Therapeutics Announces Preclinical

Ophthalmic Data Showing Nomacopan Reduces Both Vascular Endothelial Growth Factor (VEGF) and Retinal Inflammation Supporting Nomacopan

as a Potential Treatment Option for Back-of-the-Eye Diseases

NEW YORK and LONDON, January 27, 2020- Akari Therapeutics,

Plc (Nasdaq: AKTX), a biopharmaceutical company focused on innovative therapeutics to treat autoimmune and inflammatory diseases

where the complement and/or leukotriene systems are implicated, announces new preclinical data indicating that nomacopan significantly

reduced both retinal inflammation and intraocular VEGF.

Treatment of back-of-the-eye diseases, including angiogenic

ocular diseases with new blood vessel growth such as diabetic retinopathy and wet age-related macular degeneration (AMD), is a

multi-billion dollar market. VEGF promotes angiogenesis in these latter conditions, and inhibition of VEGF with antibodies such

as Lucentis and antagonists such as Macugen and Eyelea form

the mainstay of treatment of wet AMD. In contrast, complement inhibitors are being explored as a treatment for dry AMD.

the successful use of VEGF inhibitors, many patients with AMD and other back-of-the-eye diseases remain sub-optimally treated,"

said Professor Virginia Calder, University College of London (UCL), Institute of Ophthalmology. "This

reflects the complex natural history and pathology of these retinal diseases. An agent such as nomacopan that appears to combine

anti-inflammatory activity with VEGF and complement inhibition has the potential to improve treatment options, highlighting the

importance of these pathways and the degree to which their dysregulation is implicated in different sight-threatening conditions."

Professor Calder and colleagues at UCL have undertaken new work

comparing the therapeutic efficacy of nomacopan, PAS-nomacopan, and a monoclonal anti-VEGF antibody all administered intravitreally.

Their work utilized an established 26-day model of severe experimental autoimmune uveitis (EAU) in mice which results in elevated

VEGF and retinal inflammation mediated by influx of lymphocytes which thereby mimics the pathology seen in several back-of the

eye diseases. Drug treatments were administered on day 15 once disease was established and ongoing.

PAS-nomacopan was found to reduce intraocular VEGF levels by

as much as the anti-VEGF antibody with 74% (p=0.04) and 68% (p=0.05) reductions respectively, compared to saline control. Furthermore,

while clinically assessed inflammation increased in both the control and anti-VEGF groups by 49% and 33%, respectively, PAS-nomacopan

treatment showed a 9% reduction in inflammation assessed by retinal fundoscopy (p=0.02), supporting nomacopan's therapeutic

activity across multiple pathogenic pathways.

PAS-nomacopan, which has a very large functional molecular weight

of 670kDa, due to use of the PASylationTM technology (Kuhn et al. 20161), was more effective than nomacopan

(17kDa) in reducing both VEGF levels and inflammation, probably reflecting longer residency time of PAS-nomacopan in the eye.

The rationale for using nomacopan as a treatment for the back-of-the-eye

was initiated by the discovery that cell-activating receptors (C5aR1 and BLT1) that bind to complement C5a and LTB4 are expressed

by retinal inflammatory cells in the back of the eye. Nomacopan inhibits C5 activation preventing formation of C5a and captures

LTB4, and thereby has the potential to inhibit C5a and LTB4 signalling via the receptors identified in the retina.

Furthermore, as previously reported in an EAU model (April 26,

2019), nomacopan significantly reduced inflammatory markers such as the cytokine IL-17 together with clinical and histological

inflammation. Nomacopan's activity appeared to be equivalent to potent corticosteroids, the standard of care treatment for

acute posterior non-infective uveitis.

These results suggest the potential for nomacopan as a first-line

treatment for multiple back-of-the-eye diseases in that the single drug has now been demonstrated to mitigate three pathways implicated

in uveal, macular and retinal diseases:

Wynne Weston-Davies, Medical Director, Akari Therapeutics, said,

"We have an ongoing Phase II trial in atopic keratoconjunctivitis (a surface of the eye disease) with nomacopan and are pleased

to report new encouraging pre-clinical data in the back of the eye with the differentiated long-acting PAS-nomacopan. We are now

actively exploring other pre-clinical models in diseases such as AMD and how best to develop these findings in the clinic where

there remains a significant unmet need."

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, nomacopan (formerly known as Coversin), is a C5 complement inhibitor that also independently and specifically

inhibits leukotriene B4 (LTB4). Nomacopan is currently being clinically evaluated in four indications: bullous pemphigoid (BP),

atopic keratoconjunctivitis (AKC), thrombotic microangiopathy (TMA), and paroxysmal nocturnal hemoglobinuria (PNH). Akari believes

that the dual action of nomacopan on both C5 and LTB4 may be beneficial in AKC and BP. Akari is also developing other tick derived

proteins, including longer acting versions.

1Nomacopan, formerly

Coversin, accepted as International Non-proprietary Name by World Health Organization.

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 regarding, among other things, statements

related to the offering, the expected gross proceeds and the expected closing of the offering. 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 nomacopan 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 nomacopan and any other product candidates and unexpected

costs that may result therefrom; our ability to enter into collaborative, licensing, and other commercial relationships and on

terms commercially reasonable to us; difficulties enrolling patients in our clinical trials; failure to realize any value of nomacopan

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 nomacopan may not be as large as expected; risks

associated with the departure of our former Chief Executive Officers and other executive officers; risks associated with the 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. 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

Sukaina Virji / Nicholas Brown / Lizzie Seeley

Consilium Strategic Communications