Market Overview

AmpliPhi Biosciences Announces Stockholder Approval of Business Combination with C3J Therapeutics


AmpliPhi Biosciences Corporation (NYSE:APHB), a
clinical-stage biotechnology company focused on precisely targeted
bacteriophage therapeutics for antibiotic-resistant infections, today
announced that its stockholders voted to approve the proposals required
to complete the business combination with C3J Therapeutics at a special
meeting of AmpliPhi Biosciences stockholders held earlier today.
Approximately 94% of the shares voted at the special stockholder meeting
voted in favor of the transaction, with each of the other related
proposals also receiving sufficient votes for approval.

"Today's resoundingly favorable shareholder vote clearly supports our
combining of AmpliPhi and C3J Therapeutics to form a leading
biopharmaceutical company focused on developing a promising portfolio of
natural and synthetic phage therapies to treat serious and
life-threatening antibiotic-resistant infections," said Paul C. Grint,
M.D., CEO of AmpliPhi Biosciences. "The Board and management team have
worked diligently for this result, which we believe is the best outcome
for our shareholders, and I want to thank our shareholders for their
support. I look forward to transitioning to the leadership of C3J's
Chief Executive Officer, Todd R. Patrick, and the team of experienced
executives that will lead further development of these important drug

As previously announced, the Boards of Directors of both AmpliPhi and
C3J unanimously approved the business combination in January 2019. The
Board of Directors of AmpliPhi has also determined that the previously
announced reverse stock split, which is expected to be completed
immediately prior to the consummation of the business combination, will
be effected at a ratio of 1-for-14. The business combination transaction
is expected to close on Thursday, May 9th, at which time AmpliPhi and
C3J will become Armata Pharmaceuticals, Inc. The shares of the combined
company are expected to commence trading on the New York Stock Exchange
under the symbol "ARMP" on Friday, May 10, 2019.

Forward Looking Statements

This press release contains "forward-looking" statements, including,
without limitation, statements related to the anticipated consummation
of the transactions contemplated by the merger agreement and related
transactions, and the timing thereof, and the anticipated benefits of
the proposed merger and related transactions. Any statements contained
in this press release that are not statements of historical fact may be
deemed to be forward-looking statements. These forward-looking
statements are based upon AmpliPhi's current expectations.
Forward-looking statements involve risks and uncertainties. AmpliPhi's
actual results and the timing of events could differ materially from
those anticipated in such forward-looking statements as a result of
these risks and uncertainties, which include, without limitation, risks
related to: AmpliPhi's ability to complete the merger and the related
transactions, on the proposed terms and schedule, or at all, including
risks and uncertainties related to the satisfaction of closing
conditions; and the combined company's ability to advance its
preclinical and clinical programs and the uncertain and time-consuming
regulatory approval process. Additional risks and uncertainties relating
to AmpliPhi and C3J and their respective businesses can be found under
the caption "Risk Factors" and elsewhere in AmpliPhi's filings and
reports with the SEC, including in AmpliPhi's Quarterly Report on Form
10-Q, filed with the SEC on May 6, 2019. The company expressly disclaims
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect
any change in the company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statements are based.

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