Iovance Biotherapeutics Provides Corporate, Clinical, and Regulatory Updates Acquisition of Worldwide Rights to Proleukin Provides Immediate and Ongoing Revenue and Secures IL-2 Supply for Clinical and Future Commercial

Iovance Biotherapeutics Provides Corporate,

Clinical, and Regulatory Updates

Acquisition of Worldwide Rights to Proleukin

Provides Immediate and Ongoing Revenue and Secures IL-2 Supply for Clinical and Future Commercial TIL Therapy

Positive FDA Feedback on Phase 3 Confirmatory

Study in Frontline Advanced (Metastatic or Unresectable) Melanoma

Positive Clinical Data in Anti-PD-1 Na ve

Metastatic Non-Small Cell Lung Cancer (NSCLC)

Biologics License Application (BLA) Submission

in Post-Anti-PD-1 Advanced Melanoma on Track to Complete in Q1 2023

Strengthened Cash Position to Fund Operating

SAN CARLOS, Calif., January 23, 2023 - Iovance

Biotherapeutics, Inc. (NASDAQ: IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies (tumor infiltrating

lymphocyte, TIL, and peripheral-blood lymphocyte, PBL), today provided corporate, clinical, and regulatory updates.

Acquisition of Proleukin

Under a definitive agreement between Iovance and Clinigen Limited,

Iovance will acquire worldwide rights to Proleukin (aldesleukin), an interleukin-2 (IL-2) product used to promote T-cell activity

following TIL infusion. Iovance expects the benefits of this transaction to include immediate and future revenue, securing the IL-2 supply

chain and logistics surrounding TIL therapy administration, and lower cost of goods and clinical trial expenses for Proleukin used

Terms of the agreement include an upfront payment of 166.7 million,

a 41.7 million milestone payment upon first approval of lifileucel in advanced melanoma, and double-digit Proleukin global

sales royalties from Iovance to Clinigen. The transaction is expected to close in the first quarter of 2023, subject to required regulatory

approvals and clearances and other customary closing conditions.

Iovance is financing the acquisition with existing cash. As of January

20, 2023, Iovance's unaudited cash position is approximately $477.0 million, which includes net proceeds from an at-the market (ATM)

equity financing facility of approximately $227.1 million raised during the fourth quarter of 2022 and early 2023. In addition, Iovance

has agreed to terms for a secured line of credit of up to $100 million from Quogue Capital. These proceeds are expected to fund the acquisition

of Proleukin and Iovance's operating plan well into 2024.

CLINICAL AND REGULATORY UPDATES

Lifileucel in Advanced Melanoma

TILVANCE-301 Phase 3 Confirmatory Trial: During the fourth quarter

of 2022, Iovance reached agreement with the U.S. Food and Drug Administration (FDA) regarding the Phase 3 TILVANCE-301 trial of lifileucel

in combination with pembrolizumab in frontline advanced melanoma. The TILVANCE-301 trial will randomize 670 patients and will investigate

lifileucel in combination with pembrolizumab (experimental arm) compared with pembrolizumab monotherapy (control arm).

The FDA agreed to dual primary endpoints of objective response rate

(ORR) to support accelerated approval and progression free survival (PFS) to support full approval of lifileucel in frontline advanced

melanoma. The TILVANCE-301 confirmatory trial will also support full approval of lifileucel in post-anti-PD-1 advanced melanoma and is

expected to be well underway at the time of potential BLA approval for lifileucel. Further details will be shared later in 2023.

Updated results from nearly 20 patients treated in Cohort 1A of the

IOV-COM-202 trial of lifileucel in combination with pembrolizumab in frontline advanced melanoma remain consistent with previously reported

data1 demonstrating robust ORR by RECIST 1.1 and durability of response. Additional data will be shared later in 2023 and continue

to support the opportunity for lifileucel in frontline advanced melanoma.

Lifileucel in Anti-PD-1 Na ve Metastatic Non-Small Cell Lung

IOV-COM-202 Cohort 3A: Confirmed ORR by RECIST 1.1 of 47% (n=8/17)

was observed in patients treated with a combination of TIL therapy (LN-145) and pembrolizumab in Cohort 3A of the IOV-COM-202 trial. Responses

were observed regardless of PD-L1 status. Safety was consistent with other studies of Iovance TIL therapies in combination with pembrolizumab.

Study enrollment remains ongoing.

ORR by Clinical Subset: Cohort 3A comprises three distinct clinical

subsets of anti-PD-1 na ve metastatic NSCLC: 1) treatment-na ve, 2) post-chemotherapy, and 3) EGFR-mutant after prior

treatment with tyrosine kinase inhibitors (TKI). Response rates were highest in patients who were treatment-na ve (80% ORR; n=4/5)

and post-chemotherapy anti-PD-1 na ve (43% ORR, n=3/7) compared with EGFR-mutant after prior treatment with TKI (20% ORR,

n=1/5). Two patients achieved complete responses and remain on study (post-chemotherapy anti-PD-1 naive, n=1 and EGFR-mutant after

prior treatment with TKI, n=1). The observed differences in ORR between the patient subsets are informing the design of a subsequent potential

registration study. Detailed clinical results will be shared at a future medical meeting.

Regulatory Strategy: Iovance plans to meet with FDA in 2023

to discuss Cohort 3A results and a potential registration trial of lifileucel in frontline advanced NSCLC patients who are EGFR

wild-type. The proposed design will be a frontline maintenance study of standard-of-care pembrolizumab and limited duration chemotherapy

followed by treatment consisting of TIL therapy in combination with pembrolizumab compared with pembrolizumab monotherapy in responding

patients. This design takes advantage of the findings of Cohort 3A and has the potential to offer frontline advanced NSCLC patients improved

responses and PFS compared with single agent maintenance pembrolizumab.

The rolling BLA submission for lifileucel in post-anti-PD-1 advanced

melanoma commenced in August 2022 and is on track to complete during the first quarter of 2023.

Iovance will host a webcast on Monday, January 23, 2023, at 8:30 a.m.

ET to discuss these corporate, clinical and regulatory updates. To participate in the webcast, please register at https://register.vevent.com/register/BIb01d5a16742c4d99b3dfe1b02bad8147.

The live webcast and replay can be accessed in the Investors section of the company's website at ir.iovance.com.

About Iovance Biotherapeutics, Inc.

Iovance Biotherapeutics aims to be the global leader in innovating,

developing and delivering tumor infiltrating lymphocyte (TIL) therapies for patients with cancer. We are pioneering a transformational

approach to cure cancer by harnessing the human immune system's ability to recognize and destroy diverse cancer cells in each patient.

Our lead late-stage TIL product candidate, lifileucel for metastatic melanoma, has the potential to become the first approved one-time

cell therapy for a solid tumor cancer. The Iovance TIL platform has demonstrated promising clinical data across multiple solid

tumors. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life

for patients with cancer. For more information, please visit www.iovance.com.

Forward-Looking Statements

Certain matters discussed in

this press release are "forward-looking statements" of Iovance Biotherapeutics, Inc. (hereinafter referred to as the "Company,"

"we," "us," or "our") within the meaning of the Private Securities Litigation Reform Act of 1995 (the

"PSLRA"). All such written or oral statements made in this press release, other than statements of historical fact, are forward-looking

statements and are intended to be covered by the safe harbor for forward-looking statements provided by the PSLRA. Without limiting the

foregoing, we may, in some cases, use terms such as "predicts," "believes," "potential," "continue,"

"estimates," "anticipates," "expects," "plans," "intends," "forecast,"

"guidance," "outlook," "may," "could," "might," "will," "should"

or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking

statements are based on assumptions and assessments made in light of management's experience and perception of historical trends,

current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press

release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a

result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject

to risks, uncertainties and other factors, many of which are outside of our control, that may cause actual results, levels of activity,

performance, achievements and developments to be materially different from those expressed in or implied by these forward-looking statements.

Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements

are described in the sections titled "Risk Factors" in our filings with the Securities and Exchange Commission, including our

most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and include, but are not limited to, the following substantial

known and unknown risks and uncertainties inherent in our business: the effects of the COVID-19 pandemic; risks related to the timing

of and our ability to successfully develop, submit, obtain and maintain U.S. Food and Drug Administration ("FDA") or other

regulatory authority approval of, or other action with respect to, our product candidates, and our ability to successfully commercialize

any product candidates for which we obtain FDA approval; whether clinical trial results from our pivotal studies and cohorts, and

meetings with the FDA, may support registration studies and subsequent approvals by the FDA; preliminary

and interim clinical results, which may include efficacy and safety results, from ongoing clinical trials or cohorts may not be reflected

in the final analyses of our ongoing clinical trials or subgroups within these trials or in other prior trials or cohorts; the risk that

enrollment may need to be adjusted for our trials and cohorts within those trials based on FDA and other regulatory agency input; the