BiomX Inc. (NYSEAM:PHGE) agreed to acquire Adaptive Phage Therapeutics, Inc. for $11.5 million on March 6, 2024. As part of transaction BiomX will issue to the stockholders of APT an aggregate of 9.16 million shares of Common Stock, an aggregate of 0.04 million shares of the Company?s newly-designated Series X Non-Voting Convertible Preferred Stock. BiomX Inc. will continue to be led by its current management team, with the addition of Michael Billard from Adaptive Phage Therapeutics as General Manager, U.S. The transaction is subject to BiomX Inc.'s financing and BiomX Inc. shall have received the Lock-Up Agreements. The definitive merger agreement was approved by the Board of Directors of BiomX and the Board of Directors and stockholders of Adaptive Phage Therapeutics. The closing of the transaction will not be subject to the approval of BiomX stockholders. The transaction is expected to close within the next 30 days. Rick A. Werner, Simin Sun and Alla Digilova of Haynes and Boone, LLP acted as legal advisors to BiomX Inc. Christian Plaza and Matthew Schwee of Cooley LLP acted as legal advisors to Adaptive Phage Therapeutics, Inc. RBC Capital Markets, LLC, H.C. Wainwright & Co., LLC and Laidlaw & Company (UK) Ltd. acted as financial advisors to BiomX Inc. H.C. Wainwright & Co., LLC provided fairness opinion to the Board of BiomX Inc.

BiomX Inc. (NYSEAM:PHGE) completed the acquisition of Adaptive Phage Therapeutics, Inc. on March 15, 2024. Upon the consummation of the Acquisition, the Company issued warrants to purchase an aggregate of 0.25 million shares of the Company?s common stock, par value $0.0001 per share (?Common Stock?), at an exercise price of $5.00 per share of Common Stock, to a landlord of APT (the ?Landlord?) in connection with the amendment of a lease agreement by and between APT and the Landlord. Lynne Sullivan, Jason Marks, and Michael Dambach resigned from the board of directors of the Company. Dr. Jesse Goodman, Jonathan Leff and Gregory Merril were appointed to the Board as directors. Dr. Goodman and Mr. Merril were appointed as Class II directors. McDermott Will & Emery LLP acted as a legal advisor to Deerfield Management Company, L.P. Series C.