AdAlta CEO and Managing Director, Tim Oldham said:

“Clinical results showing multiple patients responding to BZDS1901, including difficult to achieve complete tumour clearance in some patients and one patient still alive 22 months after treatment with no reported tumour recurrence, continue to support the extraordinary potential of this product to offer new hope to advanced mesothelioma patients. With the signing of our first technology transfer Work Order with Cell Therapies Pty Ltd we are poised to address the second heavily scrutinized element of CAR-T cell therapy: manufacturing reliability and scalability.

This financing enables us to advance BZDS1901 through value enhancing manufacturing and regulatory milestones"

• AdAlta has received firm commitments to raise A$[2] million from a restricted group of high-net-worth investors at A$0.004 per Share.

• For every three Subscription Shares issued, the Company will issue one Attaching Option exercisable at A$0.01, with an expiry date of 3 June 2028 (ASX:1ADO).

• Recent clinical updates highlighting multiple advanced mesothelioma patient responses to BZDS1901 treatment, including complete tumour clearance in some patients, supported strong demand from new and existing sophisticated and professional investors.

• Proceeds enable AdAlta to advance value-adding regulatory and manufacturing milestones for BZDS1901

• Placement facilitated by Lead Manager, 62 Capital Pty Ltd.

• Completion is subject in part to shareholder approval at an Extraordinary General Meeting (“EGM”) to be held in early June.