AntriaBio Announces Exclusive License Agreement for a Phase 2 Orphan Disease Therapy with XOMA Corporation and Name Change to Rezolute, Inc.

AntriaBio Announces Exclusive License

Agreement for a Phase 2 Orphan Disease Therapy with XOMA Corporation and Name Change to Rezolute, Inc.

LOUISVILLE, Colorado, December 7, 2017 - (GLOBE NEWSWIRE)

- Rezolute, Inc. ("Rezolute" or the "Company") (OTCQB: ANTB), a clinical

stage biopharmaceutical company specializing in the development of innovative drug therapies for metabolic and orphan diseases,

and XOMA Corporation ("XOMA") (NASDAQ: XOMA), a pioneer in the discovery, development and licensing

of therapeutic antibodies, announced today that they have executed a license agreement

that provides Rezolute with the exclusive global rights to develop and commercialize RZ358 (formerly XOMA 358) for

Congenital Hyperinsulinism (CHI), an ultra-orphan indication.

RZ358 is a first-in-class fully human monoclonal antibody that

counteracts the effects of elevated insulin via allosteric modulation of the insulin receptor, making it well-suited as a therapy

for severe, persistent hypoglycemia caused by hyperinsulinemic conditions such as CHI. XOMA demonstrated clinical proof-of-concept

through Phase 2a studies and Rezolute plans to advance clinical development in 2018. The compound has received designated orphan

status in the US and European Union.

"We are excited about the addition of RZ358 to our growing

product pipeline and for the opportunity to take a Phase 2 program forward with the hope of being able to offer a significantly

better treatment option for a disease that is the most frequent cause of severe, persistent hypoglycemia in newborn babies and

children," said Nevan Elam, Chairman and Chief Executive Officer of Rezolute. "XOMA has generated compelling safety

data and proof-of-concept for RZ358 and we look forward to advancing its development."

Under the terms of the agreement, Rezolute will assume the

global development, regulatory filings, manufacturing and commercialization for RZ358. In turn, XOMA will receive a total of $18

million in the form of cash and shares of Rezolute common stock and will be eligible to receive up to an aggregate of $222 million

in clinical, regulatory and sales milestones. In addition, XOMA is entitled to receive royalties ranging from the high single

digits to the mid-teens based upon annual net sales of RZ358. Finally, under the terms of the agreement, Rezolute will pay XOMA

low single digit royalties on sales of the company's other products.

"Having established proof-of-concept for XOMA 358 earlier

this year, we look forward to Rezolute continuing clinical development of the program," stated Jim Neal, Chief Executive

Officer of XOMA. "Our license agreement with Rezolute places this important drug asset in the hands of a very capable endocrine-focused

team, provides XOMA with the potential to receive future milestones and royalties, and is an important milestone in the continued

transformation of our programs to fully-funded status. We welcome Rezolute to our broad portfolio of partners, including Novartis,

Five Prime and NanoTherapeutics, who continue the development of our product candidates."

CHI is a rare genetic disorder that affects one in 50,000 newborns.

Ordinarily, beta cells in the pancreas secrete just enough insulin to keep blood sugar in the normal range. With CHI, the secretion

of insulin is not properly regulated as the beta cells secrete too much insulin resulting in excessive low blood sugar (severe

hypoglycemia). In infants and young children, these episodes are characterized by lethargy, irritability and difficulty feeding.

Repeated episodes of hypoglycemia increase the risk of serious complications such as breathing difficulties, seizures, developmental

delays and intellectual disability, vision loss, brain damage, coma and possibly death. CHI is the most common cause of persistent

hypoglycemia in children and about 60 percent of infants with CHI experience a hypoglycemic episode within the first month of life.

Other affected children develop hypoglycemia by early childhood. A significant number of patients cannot be adequately treated

with or do not tolerate existing medical therapies. Surgical removal of all or part of the pancreas is a cornerstone of management

for many patients, but is invasive and diabetes-inducing.

The Company's new name reflects its transition as a developer

of potentially paradigm-shifting therapies for treating metabolic diseases and orphan indications with high unmet medical needs.

Under this strategy, the Company also exclusively licensed ActiveSite Pharmaceuticals' oral plasma kallikrein inhibitor

(PKI) portfolio in August and is developing RZ402 for Diabetic Macular Edema and RZ602 for Hereditary Angioedema,

an orphan indication.

"The name change conveys our dedication to

identifying and developing therapies that are transformative and target well-known genetic pathways and mechanisms,"

stated Mr. Elam. With the recent licensing agreements executed with XOMA Corporation for a monoclonal antibody to treat CHI,

an orphan indication, and ActiveSite Pharmaceuticals for our oral Plasma Kallikrein Inhibitor (PKI) portfolio, we have

evolved into a company advancing a robust pipeline of innovative solutions for patients and providers."

About Rezolute, Inc.

Rezolute is a clinical stage biopharmaceutical company specializing in the development of innovative drug therapies to improve

the lives of patients with metabolic and orphan diseases. Rezolute is advancing a diversified pipeline including: RZ358 (Phase

2), an antibody for the ultra-orphan indication of Congenital HyperInsulinism (CHI), with an abbreviated path-to-market strategy; AB101

(Phase 1), a once-weekly injectable basal insulin with the potential to transform the treatment landscape in diabetes management

by reducing the therapeutic burden for patients and improving compliance; and a Plasma Kallikrein Inhibitor (PKI) portfolio with

two lead compounds, RZ402 (plan to file IND in H2 2018) targeting Diabetic Macular Edema (DME) and RZ602 (plan to file IND in

H1 2019) targeting Hereditary Angioedema (HAE), an orphan indication. For more information, visit: www.rezolutebio.com.

About XOMA Corporation

XOMA has an extensive portfolio of products, programs, and

technologies that are the subject of licenses the Company has in place with other biotech and pharmaceutical companies. Many of

these licenses are the result of the Company's pioneering efforts in the discovery and development of antibody therapeutics. There

are more than two dozen such programs that are fully funded by partners and could produce milestone payments and royalty payments

in the future. For more information, visit www.xoma.com.

Forward-Looking Statements

This release, like many written and oral communications presented by Rezolute, Inc. and our authorized officers, may contain certain

forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities

Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements

to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform

Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are

based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by

use of words such as "anticipate," "believe," "estimate," "expect," "intend,"

"plan," "project," "seek," "strive," "try," or future or conditional verbs such

as "could," "may," "should," "will," "would," or similar expressions. Our ability

to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ

materially from anticipated results. Readers are cautioned not to place undue reliance on these forward-looking statements, which

speak only as of the date of this release. Except as required by applicable law or regulation, Rezolute undertakes no obligation

to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements

Rezolute, Inc. Contact:

VP of Corporate Development

Source: Rezolute, Inc.