Humacyte Announces Pricing of $30.0 Million Registered Direct Offering DURHAM, N.C.

Humacyte Announces Pricing of $30.0 Million

Registered Direct Offering

DURHAM, N.C., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Humacyte, Inc.

(Nasdaq: HUMA), a clinical-stage biotechnology platform company developing universally implantable, bioengineered human tissue at commercial

scale, today announced that it entered into a securities purchase agreement with an institutional investor to purchase approximately $30.0

million worth of its common stock and warrants in a registered direct offering.

Under the terms of the securities purchase agreement, the Company

has agreed to sell 5,681,820 shares of its common stock and warrants to purchase 5,681,820 shares of common stock. 2,840,910 warrants

will be exercisable immediately, have an exercise price of $5.28 per share, and will expire six months from the initial exercise date.

The additional 2,840,910 warrants will be exercisable immediately, have an exercise price of $5.28 per share, and will expire four and

a half years from the initial exercise date. The purchase price for one share of common stock and one warrant will be $5.28.

The gross proceeds to the Company from the registered direct offering

are estimated to be approximately $30.0 million, before deducting the placement agent's fees and other estimated offering expenses.

The offering is expected to close on or about October 7, 2024, subject to the satisfaction of customary closing conditions.

EF Hutton LLC is acting as exclusive placement agent for the offering.

The proposed offering of the common stock and warrants described above

is being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-267225) filed

with the Securities and Exchange Commission (SEC) and declared effective by the SEC on September 9, 2022, and the accompanying prospectus

The offering is being made only by means of a prospectus supplement

and accompanying prospectus. A prospectus supplement describing the terms of the public offering will be filed with the SEC and will form

a part of the effective registration statement.

Copies of the prospectus supplement and the accompanying prospectus

relating to this offering may be obtained, when available, on the SEC's website at http://www.sec.gov

or by contacting EF Hutton LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at syndicate@efhutton.com,

or by telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation

of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction

in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such

state or jurisdiction.

Humacyte, Inc. (Nasdaq: HUMA) is developing a disruptive biotechnology

platform to deliver universally implantable bioengineered human tissues, advanced tissue constructs, and organ systems designed to improve

the lives of patients and transform the practice of medicine. The Company develops and manufactures acellular tissues to treat a wide

range of diseases, injuries, and chronic conditions. Humacyte's initial product candidates, a portfolio of ATEVs, are currently

in late-stage clinical trials targeting multiple vascular applications, including vascular trauma repair, arteriovenous (AV) access for

hemodialysis, and peripheral artery disease. A Biologics License Application for the ATEV in the vascular trauma indication is currently

under review by the FDA and was granted Priority Review. Preclinical development is also underway in coronary artery bypass grafts, pediatric

heart surgery, treatment of type 1 diabetes, and multiple novel cell and tissue applications. Humacyte's 6mm ATEV for AV access

in hemodialysis was the first product candidate to receive the FDA's Regenerative Medicine Advanced Therapy (RMAT) designation and

has also received FDA Fast Track designation. Humacyte's 6mm ATEV for urgent arterial repair following extremity vascular trauma

and for advanced PAD also have received an RMAT designations. The ATEV received priority designation for the treatment of vascular trauma

by the U.S. Secretary of Defense. The ATEV is an investigational product and has not been approved for sale by the Food and Drug Administration

or any international regulatory agency. For more information, visit www.Humacyte.com.

Forward-Looking Statements

This press release contains forward-looking statements that are based

on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the

following words: "may," "will," "could," "would," "should," "expect,"

"intend," "plan," "anticipate," "believe," "estimate," "predict,"

"project," "potential," "continue," "ongoing" or the negative of these terms or other

comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties,

and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the

information expressed or implied by these forward- looking statements. Although we believe that we have a reasonable basis for each forward-looking

statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently

known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this press release include,

but are not limited to, the statements regarding the initiation, timing, progress, and results of our preclinical and clinical trials,

including our BVP program; the anticipated characteristics and performance of our ATEV and the BVP; our ability to successfully complete

preclinical and clinical trials for our ATEVs and the BVP; the anticipated benefits of the BVP relative to existing alternatives; the

anticipated commercialization of our ATEVs and our ability to manufacture at commercial scale; the implementation of our business model

and strategic plans for our business; and the timing or likelihood of regulatory filings, acceptances, and approvals. We cannot assure

you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject

to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including,

among others, changes in applicable laws or regulations, the possibility that Humacyte may be adversely affected by other economic, business,

and/or competitive factors, and other risks and uncertainties, including those described under the header "Risk Factors"

in our Annual Report on Form 10-K for the year ended December 31, 2023, filed by Humacyte with the SEC, and in future SEC filings.

Most of these factors are outside of Humacyte's control and are difficult to predict. Furthermore, if the forward-looking statements

prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements,

you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and

plans in any specified time frame, or at all. Except as required by law, we have no current intention of updating any of the forward-looking

statements in this press release. You should, therefore, not rely on these forward-looking statements as representing our views as of

any date subsequent to the date of this press release.

Humacyte Investor Contact:

LifeSci Advisors LLC

Humacyte Media Contact:

Rich Luchette Precision Strategies

Source: Humacyte, Inc