Result of Offer

Allergy Therapeutics plc

("Allergy Therapeutics" or "the Company")

Result of Offer

Allergy Therapeutics plc ("Allergy Therapeutics" or the "Company") (AIM: AGY), announced a fundraising that included an Offer to of up to 5,154,639 New Ordinary Shares of 0.1p each of the Company at a price of 9.7p per share on 30 March 2012.

At the close of the Offer on 17 April 2012, Qualifying Participants had made valid applications for 2,131,153 New Ordinary Shares raising approximately GBP206,722. The Directors have accepted all valid applications and, conditional upon the approval of Shareholders at the General Meeting and Admission, it is expected that dealings in the Accepted Offer Shares will commence on 20 April 2012.

The Offer was in addition to the Placing, Subscription and issue of Convertible Loan Notes, also announced on 30 March 2012, which (not including the proceeds raised under the Offer) conditionally in aggregate raised approximately GBP13.2 million.

The Offer, Placing, Subscription and Convertible Loan Notes, are all subject to the approval of Shareholders at a General Meeting to be held at midday on Thursday, 19 April 2012.

Details of the Offer, Placing, Subscription and Convertible Loan Notes were set out in the announcement and Circular published by the Company on 30 March 2012. Capitalised terms used, but not defined, in this announcement shall have the same meaning as given to them in the announcement and Circular published by the Company on 30 March 2012.

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