Entera Bio Ltd. Announces Pricing of Initial Public Offering

JERUSALEM, June 28, 2018 (GLOBE NEWSWIRE) -- Entera Bio Ltd. (NASDAQ:ENTX) (NASDAQ:ENTXW), a clinical-stage biopharmaceutical company focused on the development and commercialization of orally delivered large molecule therapeutics, announced today the pricing of its initial public offering of 1,400,000 units, with each unit consisting of one ordinary share and one warrant to purchase 0.5 of an ordinary share, at a combined price of $8.00 per unit. The Company has granted a 30 day overallotment option to the underwriters to purchase up to 210,000 additional ordinary shares and/or 210,000 additional warrants to purchase up to a total of 105,000 ordinary shares. The units will immediately and automatically separate upon issuance, and the ordinary shares and warrants are expected to begin trading today on The NASDAQ Capital Market under the symbols "ENTX" and "ENTXW", respectively. The warrants will be exercisable immediately at an exercise price of $8.40 per share and will expire five years from the date of issuance, subject to certain exceptions. 

Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $11.2 million. The Company intends to use the net proceeds from this offering to fund its R&D expenses, including clinical trials, working capital and general corporate purposes.

Maxim Group LLC is acting as sole book-running manager and Joseph Gunnar & Co. is acting a co-manager for the offering.

A registration statement on Form F-1 (File No. 333-221472) relating to these securities was declared effective by the Securities and Exchange Commission on June 27, 2018. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: Maxim Group LLC, 405 Lexington Ave., 2nd Floor, New York, NY, 10174; by telephone at (800) 724-0761. Copies of the final prospectus relating to the offering may also be obtained on the Securities and Exchange Commission's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Entera Bio Ltd.
Entera Bio is a clinical-stage biopharmaceutical company focused on the development and commercialization of orally delivered large molecule therapeutics for use in orphan indications and other areas with significant unmet medical need. The Company is initially applying its technology to develop an oral formulation of parathyroid hormone (PTH) for hypoparathyroidism (EB612) and osteoporosis (EB613).

Forward Looking Statements
This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, often signify forward-looking statements.  Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved.  Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  For a discussion of these and other risks that could cause such differences and that may affect the realization of forward-looking statements, please refer to the "Special Note Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Registration Statement on Form F-1 and other filings with the Securities and Exchange Commission (SEC). Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.  The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contact:
Bob Yedid
LifeSci Advisors, LLC
646-597-6989
bob@lifesciadvisors.com

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