Destiny Pharma plc

("Destiny Pharma" or "the Company")

Chair's Investor Update

Brighton, United Kingdom - 28 July 2022 - Destiny Pharma plc (AIM: DEST), a clinical stage biotechnology company focused on the development of novel products to prevent life-threatening infections, today announces an Investor Update from its Chair, Nick Rodgers.

"I am delighted with the progress we are making despite a difficult stock market, particularly in the life sciences sector, and the challenging economic background. At the fundraising in March, we undertook to complete two key tasks in 2022 - clarification of the XF-73 Nasal Phase 3 trial plan to prevent post-surgical Staphylococcus aureus infections with the US FDA and a partnering deal for our NTCD-M3 Clostridioides difficile Infections (CDI) prevention therapy. We have progressed both tasks and look forward to further successes during the remainder of this year.

XF-73 Nasal and NTCD-M3

Clarification has been received from the FDA on our XF-73 Nasal Phase 3 clinical trial plans. The details of this encouraging feedback were recently announced on 19^th July. Additionally, we continue to progress partnering discussions on NTCD-M3 with the aim of announcing a deal before year end.

All the clinical data and competitor analyses we have reviewed and the market research we have undertaken gives us great confidence that both XF-73 and NTCD-M3, when approved by regulators, will deliver significant patient benefits and clear cost savings to hospitals and payers by reducing the incidence and expense of treating these life-threatening infections. Moreover, both have reported excellent Phase 2 clinical and safety data and show robust commercial models with the potential to generate over one US$ billion in peak sales.

I am particularly pleased that, within two years, we have been able to advance NTCD-M3 from its acquisition in November 2020 and develop the package through our expert regulatory, clinical and manufacturing efforts and are now close to delivering a partnering deal.  This is in line with the Company's stated strategy of seeking partners to help co-fund the required Phase 3 development of our lead assets and lead the commercialization.

Other activity

While our focus remains on our two Phase 3 products we have sought to advance other aspects of our pipeline. Recently, we secured funding from the Cystic Fibrosis Foundation and also started a new research project targeted at Oral Mucositis. Our China partner, China Medical Systems, is carrying out pre-clinical work on their own XF-73 Dermal programme and SPOR-COV, our collaboration with SporeGen to develop a novel nasal spray to prevent viral respiratory infections, including COVID-19 and influenza, is in an exciting stage having almost completed the grant funded work.

I am extremely positive on the future of Destiny Pharma and I believe that our products can have a major impact in reducing infections worldwide and reduce healthcare costs. Our commitment to infection prevention is more relevant than ever and we have a very large opportunity to create significant value for our stakeholders including patients, healthcare systems and payers."

Nick Rodgers

Chair

For further information please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
[email protected]

Optimum Strategic Communications 
Mary Clark / Manel Mateus / Eleanor Cooper
+44 (0) 203 922 0891
[email protected]

finnCap Ltd (Nominated Advisor and Broker)
Geoff Nash / Kate Bannatyne / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
+44 (0) 207 220 0500

MC Services AG
Anne Hennecke / Andreas Burckhardt
+49-211-529252-12

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and also XF-73 nasal gel, which has recently completed a positive Phase 2b clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SPOR-COV^TM, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF drug research projects.

For further information on the company, please visit www.destinypharma.com

Forward looking statements

Certain information contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance, constitutes "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks" "could" "targets" "assumes" "positioned" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group's results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the company believe that the expectations reflected in these statements are reasonable but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group's control. Forward looking statements are not guarantees of future performance. Even if the Group's actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.