Alligator Bioscience — Capital/Financing Update 2021

Sep 2, 2021

Alligator is exploring financing alternatives to support phase II studies for Mitazalimab, phase II preparations for ATOR-1017 as well as the development of other pipeline

Lund, Sweden, September 2, 2021 – Alligator Bioscience AB ("Alligator" or the "Company") today announces that the Company, in order to enable further progress, will begin evaluating potential financing alternatives, which may include issuance of equity. Alligator's board has appointed financial advisors and the Company has received support from certain of the Company's largest shareholders for continued funding of the Company.

To give Alligator's new and experienced management team the right opportunities to develop the Company, the Board's current assessment is that working capital will need to be strengthened in order to enable phase II studies for Mitazalimab, phase II preparations for ATOR-1017 as well as the development of other pipeline candidates and general corporate purposes. The Company will now continue dialogues with relevant stakeholders, evaluate its available funding alternatives, and revert to the market with more information in due course.

For further information, please contact:

Søren Bregenholt, CEO Phone: +46 46-540 82 00 E-mail: sbr@alligatorbioscience.com

Julie Silber, Investor Relations Phone: +46 46-540 82 23 E-mail: jur@alligatorbioscience.com

This information is such information as Alligator Bioscience AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 12:00 p.m. CEST on September 2, 2021.

About Alligator Bioscience

Alligator Bioscience AB is a clinical-stage biotechnology company developing tumor-directed immunooncology antibody drugs. The pipeline includes two clinical assets: mitazalimab, a CD40 agonist, and ATOR-1017, a 4-1BB agonist. Alligator Bioscience is co-developing ALG.APV-527 with Aptevo Therapeutics Inc. and an undisclosed molecule based on its proprietary Neo-X-Prime™ technology platform with MacroGenics Inc. Outlicensed programs include AC101 in clinical development by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc. Alligator Bioscience's shares are listed on Nasdaq Stockholm (ATORX).Alligator is headquartered in Lund, Sweden. For more information, please visit http://www.alligatorbioscience.com.