Akari Therapeutics, Plc Announces $4.5 Million Registered Direct Offering NEW YORK and LONDON

Akari Therapeutics, Plc Announces $4.5 Million

Registered Direct Offering

NEW YORK and LONDON, June 28, 2019 -

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 that it has entered into

definitive agreements with certain institutional investors, accredited investors and an existing shareholder, RPC Pharma Ltd.,

an affiliated entity of Dr. Ray Prudo, Akari's Chairman, to receive gross proceeds of $4.5 million.

In connection with the offering, the Company

will issue approximately 2,368,421 registered American Depository Shares (ADSs) of Akari at a purchase price of $1.90 per ADS in

a registered direct offering. Additionally, for each ADS purchased by investors, the investors will receive an unregistered warrant

to purchase one-half ADS. The warrants will have an exercise price of $3.00 per ADS, will be exercisable upon their issuance and

will expire five years from the issuance date. The closing of the offering is expected to take place on or about July 2, 2019,

subject to the satisfaction of customary closing conditions.

Paulson Investment Company, LLC, is acting

as the exclusive placement agent in connection with this offering.

The ADSs described above (but not the warrants

or the ADSs underlying the warrants) are being offered pursuant to a shelf registration statement (File No. 333-220052) which became

effective on February 23, 2018. Such ADSs may be offered only by means of a prospectus, including a prospectus supplement, forming

a part of the effective registration statement.

will file a prospectus supplement and the accompanying base prospectus with the SEC relating to such ADSs. When available, copies

of the prospectus supplement and the accompanying base prospectus may be obtained at the SEC's website at http://www.sec.gov,

or by contacting Donald A. Wojnowski Jr. of Paulson Investment Company, LLC, at (855) 653-3444 or at dwojnowski@paulsoninvestment.com.

The warrants described above were offered

in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Regulation

D promulgated thereunder and, along with the ADSs issuable upon their exercise, have not been registered under the Act, and may

not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration

This press release shall not constitute

an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation

of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be

unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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) activity. 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.

Cautionary Note Regarding Forward-Looking

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; 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.