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First external investment secured for “East to West” cellular immunotherapy strategy

SYNthesis BioVentures to invest up to A$2 million in AdAlta’s special purpose subsidiary AdCella Pty Ltd, and has the right to invest A$5.5 million in the now launched AdCella Series A funding round

Transaction values AdAlta's stake in AdCella at A$6 million today

AdCella is a special purpose subsidiary created to execute AdAlta’s “East to West” cellular immunotherapy strategy

AdAlta will own at least 75% of AdCella immediately prior to the Series A funding round

This A$2 million in seed financing will fund accelerated planning and preparation work for the three previously announced cellular immunotherapy assets being considered for licensing by AdCella

AdCella is not reliant on further funding from AdAlta and has launched a Series A financing round to support technology transfer and Phase I clinical trials of up to three “East to West” cellular immunotherapy assets

SYNBV has the right to invest a further A$5.5 million in a Series A funding round for AdCella, on top of its initial A$2 million in seed financing

In addition to its ownership stake, AdAlta will be paid management fees and performance incentives for services provided to AdCella.