ADALTA LIMITED — Capital/Financing Update 2021

Nov 10, 2021

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11 November 2021

ASX Announcement

ADALTA APPOINTS SPARK PLUS TO BETTER ENGAGE SOUTHEAST ASIAN INVESTORS, SPARK PLUS ACCEPTS SHARES IN LIEU OF FEES

MELBOURNE Australia, 11 November 2021: AdAlta Limited (ASX:1AD), the clinical stage drug discovery company developing novel therapeutic products from its i-body platform advises the appointment of Spark Plus to assist the Company with its capital markets and investor relations strategy in Asia.

AdAlta's CEO, Dr Tim Oldham commented,

"Asian pharmaceutical markets are now comparable in size to Europe and growing more rapidly. Diseases like Idiopathic Pulmonary Fibrosis and Interstitial Lung Diseases affect the Asian population at a higher rate than western patients. We believe our lead asset, AD-214 which targets these disease areas, and our advancing pipeline of fibrosis and oncology assets offer a compelling investment case to investors in this region. We look forward to working with Spark Plus to expand our coverage in Southeast Asia and Hong Kong.”

Spark Plus is a corporate advisory and Asian roadshow specialist which provides listed companies with access to an extensive database of hedge funds, family offices, mutual funds, private banks, and brokers. It also provides advisory services to corporates on their M&A activity, distribution and advises on appropriate financing solutions focused on ASX and Japanese listed companies. To date, Spark Plus has conducted over 250 roadshows for ASX listed companies into Asia and advised on financing and Asian market entry.

In line with the Company's aim of maximising shareholder value, AdAlta will issue Spark Plus 465,365 shares in lieu of their entire cash fee for the initial six-month period of the engagement. The number of shares was determined using the 5-day volume weighted average price to 9 November 2021 of $0.087 and will be issued under the Company’s existing capacity under ASX Listing Rule 7.1. Spark Plus will enter a voluntary escrow agreement under which it will not dispose of the shares for at least 6 months after issue.

Authorised for lodgement by:

Tim Oldham CEO and Managing Director November 2021

Notes to editor

About AdAlta

AdAlta Limited is a clinical stage drug development company headquartered in Melbourne, Australia. The Company is using its proprietary i-body technology platform to solve challenging drug targeting problems and generate a promising new class of single domain antibody protein therapeutics with the potential to treat some of today’s most challenging medical conditions.

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The i-body technology mimics the shape and stability of a unique and versatile antigen binding domain that was discovered initially in sharks and then developed as a human protein. The result is a range of unique proteins capable of interacting with high selectivity, specificity and affinity with previously difficult to access targets such as G-protein coupled receptors (GPCRs) that are implicated in many serious diseases. i-bodies are the first fully human single domain antibody scaffold and the first based on the shark motif to reach clinical trials.

AdAlta has completed Phase I clinical studies for its lead i-body candidate, AD-214, that is being developed for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other human fibrotic diseases for which current therapies are sub-optimal and there is a high unmet medical need.

The Company is also entering collaborative partnerships to advance the development of its i-body platform. It has an agreement with GE Healthcare to co-develop i-bodies as diagnostic imaging agents against Granzyme B, a biomarker of response to immunooncology drugs, a program now in preclinical development. It also has a collaboration with Carina Biotech to co-develop precision engineered, i-body enabled CAR-T cell therapies to bring new hope to patients with cancer.

AdAlta’s strategy is to maximise the products developed using its next generation i-body platform by internally discovering and developing selected i-body enabled product candidates against GPCRs implicated in fibrosis, inflammation and cancer and partnering with other biopharmaceutical companies to develop product candidates against other classes of receptor, in other indications, and in other product formats.

Further information can be found at: https://adalta.com.au

For more information, please contact:

Investors

Media

Tim Oldham, CEO & Managing Director IR Department Tel: +61 403 446 665 Tel: +61 411 117 774 E: t.oldham@adalta.com.au E: jane.lowe@irdepartment.com.au