OKYO Pharma Limited Announces Closing of Public Offering and Nasdaq Listing

May 19, 2022

London, May 19, 2022 – OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) (“OKYO Pharma” or the “Company“), a life sciences company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and ocular pain, today announced the closing of its underwritten public offering of 625,000 American Depository Shares (the “ADSs”) at a public offering price of $4.00 per share, for gross proceeds of $2.5 million, before deducting underwriting discounts and offering expenses.

OKYO intends to use the net proceeds from this Offering: (i) to advance OK-101 to the filing of an IND to treat DED; (ii) to fund the initial Phase 2 clinical trial of OK-101 in DED patients; and (iii) for working capital and other general corporate purposes.

ThinkEquity acted as sole book-running manager for the offering.

A registration statement on Form F-1 (File No. 333-263326) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on May 16, 2022. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at prospectus@think-equity.com. 

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

About OKYO Pharma Limited

OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) is a life sciences company developing next-generation therapeutics to improve the lives of patients suffering from inflammatory eye diseases and ocular pain. OKYO’s research program is focused on a novel G Protein-Coupled Receptor, or GPCR, which OKYO believes plays a key role in the pathology of these inflammatory eye diseases of high unmet medical need. OKYO’s therapeutic approach is focused on targeting inflammatory and pain modulation pathways that drive these conditions. The Company is presently developing OK-101, its lead preclinical product candidate, for the treatment of dry-eye disease “DED”. The Company also plans to evaluate its potential in benefiting patients with ocular neuropathic pain, uveitis and allergic conjunctivitis.

Forward Looking Statements

Certain statements made in this announcement are forward-looking statements including with respect to the creation of a trading market for ADSs representing the Ordinary Shares in the United States. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including market conditions.  We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. . The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Investor Relations Contact

RedChip Companies Inc.
(Investor Relations)

Dave Gentry                 +1 407-491-4498