Kleo Pharmaceuticals Inc. Secures Series A Funding to Advance the Development of Antibody Recruiting Molecules (ARMs) and Synthetic Antibody Mimics (SyAMs)

ARMs and SyAMs Represent a New Class of Targeted Immunotherapies Utilizing Small Molecules to Fight Cancer and Infectious Disease

NEW HAVEN, CT--(Marketwired - September 01, 2016) - Kleo Pharmaceuticals Inc., a biotechnology company pioneering a new class of immunotherapies utilizing small molecules to activate an individual's own immune system to fight against cancers and infectious diseases, announced today it has completed its Series A funding. The Series A round is being led by Biohaven Pharmaceutical Holding Company, Ltd. (Biohaven) and will support the company's development platform of Antibody Recruiting Molecules (ARMs) and Synthetic Antibody Mimics (SyAMs).

ARMs are bifunctional or 'two-headed' chemical structures designed such that one head interacts with disease-relevant molecular targets (such as cancers), while the other head interacts directly with antibodies already present in a person's bloodstream. SyAMs are novel synthetic molecules that possess both the targeting and effector cell activating functions of antibodies. The new drugs being developed by Kleo recruit the immune system to target and kill disease specific cells.

Kleo Pharmaceuticals was founded on the research of David A. Spiegel, MD PhD, a professor of Chemistry and Pharmacology at Yale University. "Biologics have been the gold standard for immunotherapies. With ARMs and SyAMs, we have the opportunity to raise that bar," said Dr. Spiegel. "Our ability to rationally design and synthesize small molecules that emulate the functionality of biologics represents a great advancement in the field. Our molecules are hundreds of times lighter than their biological counterparts and thus may infiltrate tissue more efficiently than large proteins. These small molecules are easier to produce, more tractable to engineer, and non-immunogenic. It's a tremendously exciting time."

"Kleo's groundbreaking technology opens up exciting new paths in the development of innovative immunotherapies," said Declan Doogan, MD, Chairman of Biohaven Pharmaceuticals. "We were drawn to this opportunity by both the strength of the technology and the ambitious vision Dr. Spiegel has for applying it to advance treatment options for patients across a wide range of indications. In addition to our investment, we look forward to partnering with Kleo's team to help drive clinical development of its ARM and SyAM platform technologies."

About Kleo Pharmaceuticals, Inc.

Kleo Pharmaceuticals Inc. is a biotech company initially formed on the basis of intellectual property from the Spiegel Lab at Yale University. The company was founded by Dr. David Spiegel and Roy Prieb and is focused on developing a new class of targeted immunotherapies. Further information regarding Kleo Pharmaceuticals can be found at: http://kleopharmaceuticals.com

About Biohaven

Biohaven is a privately-held biopharmaceutical company with particular expertise in late stage clinical development and has portfolio of multiple late stage drug assets. Biohaven has licensed intellectual property from Yale University, Catalent, ALS Biopharma LLC and Massachusetts General Hospital. Further information regarding Biohaven can be found at: http://biohavenpharma.com

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the U.S. federal and Canadian securities laws. These forward-looking statements involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company's management. All statements, other than statements of historical facts, included in this press release regarding the Company's plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words "estimate," "project," "intend," "expect," "believe," "anticipate," "will," "plan," "could," "may" and similar expressions are intended to identify forward-looking statements. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company's forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by our forward-looking statements including receipt of regulatory approvals and market conditions. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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