BIOTRON LIMITED — Capital/Financing Update 2018

Oct 16, 2018

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Level 2, 66 Hunter Street Sydney NSW 2000 Tel: (61-2) 9300 3344 Fax: (61-2) 9221 6333 E-mail: pnightingale@biotron.com.au Website: www.biotron.com.au

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T h e Manager Companie s A S X Limited 2 0 Bridge Street S Y DNEY N S W 2000

(2 p a ges by em a il)

D e ar Madam ,

Biotron Secures $4.7 Million Underwriting Agreement Biotron Lim i ted (ASX: BIT) is pleased to a nnounce t h at the Company ha s entered i n to an Opt i on U n derwriting Agreemen t (‘the Agr e ement’) wi t h CPS Ca p ital Group Pty Ltd (‘ C PS Capital ’ ).

U n der the A g reement, C PS Capita l will unde r write any s hortfall ar i sing from 7 8,429,130 listed opti o ns exercisable a t $0.06, wit h an expiry date of 30 November 2018 (AS X : BITOA). The Agre e ment inclu d es customary te r ms and co n ditions fo r an under w riting, inc l uding an u nderwritin g fee of 5 % and with the pr i ncipal co m mercial ter m ination e v ent being a 7% fall in the ASX A ll Ordinari e s Index at any time a f ter th e date of th e agreemen t .

T h e underwr i ting will, s u bject to the terms of t he agreem e nt, ensure that appro x imately $4.7 million w ill be added to t h e Compan y ’s balanc e sheet, whi c h will pla c e the Com p any in a s o und finan c ial positio n as it focuses on achieving a commercial outcom e followin g the recent successful results fro m the phase 2 cl i nical trial o f the Com p any’s lead drug BIT2 2 5 for the t r eatment of HIV-1.

B e yond HIV - 1, BIT225 is an impo r tant asset a s it demo n strates the robustness of Biotron’s approac h to antiviral drug developm e nt and that the Comp a ny can gen e rate clinic a lly safe dr u gs with ac t ivity again s t a new class of viral protein targets. The unde r written fu n ding will e nable the C ompany to advance the development of other p r omising c o mpounds w ithin the i t s proprietary compou n d library t hat have b e en sh o wn to hav e activity a g ainst othe r serious vi r al diseases including H epatitis C , Hepatitis B , Dengue a nd ot h ers. In tu r n, this will enable the Company t o attract a c ommercial partner fo r these appl i cations within th e Company’s antiviral platform.

T h e Director s wish to th a nk all shareholders fo r their cont i nued supp o rt.

Y o urs sincer e ly

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P e ter J. Nigh t ingale C o mpany Se c retary

pj n 9611

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About Biotron

Biotron Limited is engaged in the research, development, and commercialisation of drugs targeting significant viral diseases with unmet medical need. The Company has BIT225 in clinical development for HIV-1, and a promising preclinical program for HBV. In addition, Biotron has several earlier stage programs designing drugs that target a class of virus protein known as viroporins which have a key role in the virus life cycle of a very broad range of viruses, many of which have caused worldwide health issues such as Dengue, Ebola, Middle East Respiratory virus, Influenza and Zika viruses.

Enquiries

Dr Michelle Miller Managing Director Biotron Limited +61-(0)412313329

Rudi Michelson Monsoon Communications +61-3 9620 3333

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