Update on Accounts and Financial Position

28 September 2018

Defenx PLC("Defenx", the "Company" or the "Group")

Update on publication of Annual Accounts and Interims and Financial Position

Further to the Company's announcements of 29 June and 16 July 2018, the Company provides the following update regarding the publication of its annual report and accounts for the year ended 31 December 2017 (the "Accounts") and its interims results for the six month period ended 30 June 2018 (the "Interims"), together with an update on its financial position.

The Company confirms that it is now in the final stages of finalising its Accounts and Interims and expects to be in a position to publish them in early October 2018.

The Company also confirms that until its Accounts and Interims are published in compliance with AIM Rules 19 and 18 respectively, dealings in the Company's ordinary shares will remain suspended under AIM Rule 40 ("Suspension"), but that it expects the Suspension to be lifted on publication of the Accounts and Interims.

The Company is also pleased to confirm that it is in very advanced discussions with BV Tech S.p.A ("BV Tech"), the Company's majority shareholder, to secure funding to assist the Company in meeting its working capital requirements going forward. The Company confirms that it has sufficient working capital in place through to the expected publication of the Accounts and Interims, at which time the Company anticipates finalising the funding with BV Tech.

Further announcements will be made in due course.

Enquiries

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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