PDS Announces Pricing of $16.5m Common Stock Offer

NetScientific plc

(“NetScientific” or the “Company”)

PDS Biotechnology Corporation Announces Pricing of $16.5 Million Public Offering of Common Stock

NetScientific plc (AIM:NSCI), the transatlantic healthcare IP commercialisation group, announces that its portfolio company PDS Biotechnology Corporation (“PDS”) (Nasdaq: PDSB) yesterday finalised pricing of its previously announced underwritten public offering which consisted of 6,000,000 shares of common stock at a public offering price of $2.75 per share. The gross proceeds to PDS Biotech from this offering are expected to be $16,500,000, before deducting underwriting discounts, commissions and other offering expenses. The offering is expected to close on Thursday, August 13, 2020, subject to customary closing conditions.

NetScientific confirms that it has subscribed. £0.5 million for 236,000 shares of common stock. Pending receipt of funds from NetScientific’s agreed placement which is expected at the end of August, the short term finance has been covered by drawing down £0.4 million under the loan facility agreement dated 9 April 2020 with the AB Group Limited and the rest coming from existing resources.

NetScientific holds approx. 5.99% of PDS’s undiluted share capital post the offering.

Dr. Ilian Iliev, Chief Executive Office of Net Scientific and Board member of PDS Biotechnology said: “With this funding round, PDS Biotech can accelerate its clinical trials programme and progress the company’s development of cancer treatment and infectious disease vaccine programmes (including for COVID-19) based on its Versamune platform. Securing such significant funding during a volatile period in the economy indicates the increasing market recognition of PDS Biotech as an emerging market leader.”

John Clarkson, Chairman of the Net Scientific said: “We are delighted by this excellent result for NetScientific, with the successful completion of another significant milestone, which reinforces the accelerating progress in the Company’s new proactive management strategy.”

The full details of the announcement are set out below and can be found here: https://www.pdsbiotech.com/investors/news-center/press-releases/press-releases1/56-2020-news/411-iotechnologyorporationnnouncesricingof165i20200811

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PDS Biotechnology Corporation Announces Pricing of $16.5 Million Public Offering of Common Stock

FLORHAM PARK, N.J., Aug. 11, 2020 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (“PDS Biotech” or the “Company”) (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology, today announced the pricing of its previously announced underwritten public offering consisting of 6,000,000 shares of common stock at a public offering price of $2.75 per share. The gross proceeds to PDS Biotech from this offering are expected to be $16,500,000, before deducting underwriting discounts, commissions and other offering expenses. In addition, PDS Biotech has granted the underwriter a 30-day option to purchase up to 900,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on Thursday, August 13, 2020, subject to customary closing conditions.

PDS Biotech intends to use the proceeds from this offering to fund working capital and general corporate purposes.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering.

This offering by PDS Biotech is being made pursuant to an effective registration statement on Form S-3 (File No. 333-240011) previously filed with the U.S. Securities and Exchange Commission (“SEC”) on July 22, 2020 and declared effective on July 31, 2020, and the accompanying prospectus contained therein.  The offering of the shares of common stock will be made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.  A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC, and will be available on the SEC’s website at http://www.sec.gov or by contacting Oppenheimer & Co. Inc. at 85 Broad Street, 26th Floor, New York, NY 10004, Attention: Equity Syndicate Prospectus Department, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy 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.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company with a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology platform. Versamune® effectively delivers disease-specific antigens for in vivo uptake and processing, while also activating the critical type 1 interferon immunological pathway, resulting in production of potent disease-specific killer T-cells as well as neutralizing antibodies. PDS Biotech has engineered multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize disease cells and effectively attack and destroy them.

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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

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About NetScientific

NetScientific PLC is a transatlantic healthcare IP commercialisation Group focused on technologies and companies that have the potential to treat chronic disease and significantly improve the health and well-being of people.

For more information, please visit the website at www.NetScientific.net