Akari Therapeutics, Plc Announces $6.0 Million Registered Direct Offering NEW YORK and LONDON

Akari Therapeutics, Plc Announces $6.0 Million

Registered Direct Offering

NEW YORK and LONDON, December 30, 2021 -

Akari Therapeutics, Plc (Nasdaq: AKTX) ("Akari" or the "Company"), 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 institutional investors and accredited investors, led by existing investors

of the Company, including Dr. Ray Prudo, the Company's Chairman, to receive gross proceeds of approximately $6.0 million.

In connection with the offering, the Company will

issue approximately 4,310,839 registered American Depository Shares (ADSs) of Akari at a purchase price of $1.40 per ADS in a registered

direct offering. Additionally, for each ADS purchased by investors, the investors will receive a registered warrant to purchase one-half

ADS. The warrants will have an exercise price of $1.65 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 January 4, 2022, subject to the satisfaction of customary

Paulson Investment Company, LLC, is acting as

the exclusive placement agent in connection with this offering.

The securities described above are being offered

by Akari pursuant to an effective shelf registration statement on Form F-3 (File No. 333-251673) previously filed with the Securities

and Exchange Commission (the "SEC") on December 23, 2020 and declared effective by the SEC on December 31, 2020. The offering

of the securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration

file a prospectus supplement and the accompanying base prospectus with the SEC relating to the securities being offered. When available,

electronic 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.

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 areas: bullous pemphigoid

(BP), thrombotic microangiopathy (TMA), as well as programs in the eye and lung.

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; difficulties enrolling patients

in our clinical trials; our ability to enter into collaborative, licensing, and other commercial relationships and on terms commercially

reasonable to us; 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 U.S. Food and Drug Administration (FDA) and European Medicines Agency (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 impact of the COVID-19 pandemic;

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 SEC, 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.