Today, the subscription period begins in Alligator Bioscience AB (publ)'s ('Alligator' or 'the Company') rights issue of shares decided by the Board of Directors on 15 December 2020 with the support of authorization from the Annual General Meeting on 5 May 2020 (the 'Rights Issue') in which the public has the opportunity to subscribe for shares.

To ensure continued successful development in accordance with the Company's business plan and strategy, the Board of Directors of Alligator has decided to carry out the Rights Issue of approximately SEK 86 million before issue costs. The expected net proceeds from the Rights Issue will be used to start and run Phase II studies for mitazalimab as well as complete Phase I studies and begin work on Phase II studies for ATOR-1017. The rights issue is 100 percent secured through subscription commitments and guarantee commitments.

For complete information about the Rights Issue, please refer to the prospectus prepared by the Board in connection with the Rights Issue.

Comment from Alligator's CEO, Per Norlen: 'With the capital injection from the issue, we secure the start of decisive effect studies for our focus projects mitazalimab and ATOR-1017. Just before the turn of the year, we submitted a CTA for mitazalimab, ie an application to start phase II in pancreatic cancer. For ATOR-1017, we plan to start phase II studies during the second half of 2021 with gastric cancer as a priority indication. With strong data from preclinical models and clinical phase I, we see good opportunities for both mitazalimab and ATOR-1017 to be able to help patients with these cancers. 'Per Norlen, CEO of Alligator.

The rights issue The rights issue comprises a maximum of 14,277,723 shares. The rights issue will take place with priority for those who were registered as shareholders in the Company on the record date of January 5, 2021. One (1) existing share in the Company entitles to one (1) subscription right. Five (5) subscription rights entitle to subscribe for one (1) new share.

Contact:

Per Norlen

Tel: 046-540 82 00

Email: per.norlen@alligatorbioscience.com

About Alligator Bioscience AB

Alligator Bioscience is a public Swedish biotechnology company that develops tumor-targeted immunotherapies for cancer. Alligator's project portfolio focuses on the two priority drug candidates ATOR-1017 and mitazalimab. In addition, two projects are conducted through collaboration agreements; ALG.APV-527 in co-development with Aptevo Therapeutics Inc. and AC101 in clinical development through Shanghai Henlius Inc. The company has also recently developed a new concept for patient-specific immunotherapy, Neo-X-Prime. Alligator's shares are traded on Nasdaq Stockholm under the ticker 'ATORX'. The head office is located at Medicon Village in Lund, Sweden.

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