Akari Therapeutics, Plc has strengthened its strategic expertise by appointing Dr. Patricia LoRusso, D.O., a globally recognized leader in oncology drug development, to its Scientific Advisory Board. The appointment comes as the company advances its lead program, AKTX-101, a TROP2-targeting antibody drug conjugate (ADC) powered by a proprietary RNA splicing modulator payload. Dr. LoRusso’s extensive experience in early-phase clinical trials is expected to be instrumental as Akari transitions AKTX-101 into the clinic with a targeted Phase 1 first-in-human trial expected in mid-2027.

Strategic Expertise for Clinical Advancement

Dr. LoRusso brings more than 25 years of experience in medical oncology, drug development, and early-phase clinical trials. She currently serves as the Amy and Joseph Perella Professor of Medicine (Medical Oncology) at Yale Cancer Center, Chief of Experimental Therapeutics, and Associate Cancer Center Director of Experimental Therapeutics. Previously, she held leadership roles at Wayne State University’s Barbara Karmanos Cancer Institute, including Director of the Phase I Clinical Trials Program.

Abizer Gaslightwala highlighted the significance of this addition, noting that Dr. LoRusso’s unparalleled experience in advancing first-in-human oncology programs will be critical as the company moves forward. Her strategic and clinical insight is aimed at maximizing the potential of the PH1 payload and driving impactful outcomes for patients.

Leadership in Oncology Research

A past President of the American Association for Cancer Research (AACR), Dr. LoRusso has played a significant role in advancing the field through leadership positions in major scientific organizations. She has served as Co-Chair of the National Cancer Institute (NCI) Cancer Therapy Evaluation Program (CTEP) Investigational Drug Steering Committee and has contributed to numerous committees within the AACR and the American Society of Clinical Oncology (ASCO). She has authored more than 200 peer-reviewed publications and received numerous awards for her contributions to oncology research.

Advancing AKTX-101 and Pipeline

Dr. LoRusso’s expertise will support Akari’s efforts to advance AKTX-101, which utilizes a novel spliceosome modulator payload designed to disrupt RNA splicing within cancer cells. Preclinical studies have shown that AKTX-101 induces cancer cell death while activating immune systems, demonstrating prolonged survival relative to ADCs with traditional payloads. The company has initiated IND-enabling studies with a goal of starting its First-In-Human trial by mid-2027.

Akari is also developing AKTX-102, an ADC candidate targeting CEACAM5, designed to leverage the proprietary PH1 payload for differentiated tumor cell killing. The company’s platform allows for the generation of ADC candidates optimized for any antigen target of interest.

Akari Therapeutics, Plc has filed a prospectus related to the resale of up to 6 million American Depositary Shares (ADSs) representing 480 billion ordinary shares by the selling shareholders. This filing follows the company's recent capital raising activities, where it secured approximately $8.3 million in total capital during Q2 2026 through the completion of a private investment in public equity (PIPE) transaction and associated warrant exercises.

The PIPE offering generated gross proceeds of $5.5 million. Under the securities purchase agreement, the company agreed to sell and issue an aggregate of 1,470,588 ADSs or prefunded warrants to purchase ADSs. These were accompanied by Series H, Series I, and Series J warrants, with each series granting the right to purchase 1,470,588 ADSs. The issuance of these warrants remains subject to shareholder approval at the company's Annual General Meeting scheduled for June 30, 2026.

The $5.5 million in gross proceeds was originally structured to be funded in three separate tranches. The first tranche closed at the end of May 2026. The parties subsequently agreed to consolidate the second and third closings, initially scheduled for June and July 2026, into a single final closing event which occurred on June 26, 2026.

Separately, the company received approximately $2.8 million in additional proceeds during May 2026. This amount resulted from the exercise of warrants by investors participating in the PIPE transaction.

Funding Breakdown

Abizer Gaslightwala, President and Chief Executive Officer of Akari Therapeutics, stated that the early completion of the funding and increased investor commitment provide added financial flexibility. The capital is intended to support the advancement of AKTX-101 and the company's proprietary PH1 RNA splicing modulator antibody drug conjugate (ADC) payload through potential strategic partnerships.