Cobra Biomanufacturing Plc

('Cobra' or 'the Group' or 'the Company')

Trading Update

Cobra Biomanufacturing Plc, the international provider of biopharmaceutical manufacturing services, gives the following update.

Cobra has an order book of approximately £10 million. As previously reported, the capacity of the Group to continue as a going concern remains dependent on the Group delivering contract signatures and converting these contracts into revenue and cash receipts in line with expected timings.

Trading conditions have resulted in a delay in the achievement of some contract signatures and Cobra continues to pursue alternative funding arrangements to meet the resulting working capital shortfall.

Substantial progress has been made with a number of interested parties regarding potential interim and longer term financing and licensing arrangements. A further announcement will be made as appropriate.

In addition, Cobra has completed a successful audit by the UK Medicines and Healthcare Products Regulatory Agency (MHRA) at its facility based at Keele.

This authorisation is the result of a recent 3 day inspection and evaluation by the agency of Cobra's manufacturing, analytical and quality management systems and demonstrates that Cobra's facilities continue to meet international Good Manufacturing Practice (cGMP) standards.

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