Proposed Capital Raising by way of a Placing of New Ordinary Shares and Update on Early Positive Market Reception to US Launch of BARHEMSYS

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Acacia Pharma Group plc

Proposed Capital Raising by way of a Placing of New Ordinary Shares and Update on Early Positive Market Reception to US Launch of BARHEMSYS

Cambridge, UK and Indianapolis, US – 18 February 2021, 13:15 CET: Acacia Pharma Group plc ("Acacia Pharma" or the "Company") (EURONEXT: ACPH), a commercial stage biopharmaceutical company focused on developing and commercializing novel products to improve the care of patients undergoing serious medical treatments such as surgery, invasive procedures, or chemotherapy, announces that it intends to raise EUR 20 million in new ordinary shares (the "New Ordinary Shares"), by means of an accelerated bookbuild offering (the "Placing"), with the possibility to increase the size of the Placing.

The Company also provides a brief update on the early positive market reception to the US launch of BAHREMSYS. To date, approximately 90% of hospitals that have reviewed BARHEMSYS for addition to their formulary have placed the drug on formulary resulting in 90 accounts across the US where the product is currently available on formulary.

“I am delighted to report that the US launches of both BARHEMSYS and BYFAVO are proceeding extremely well despite the challenging operating environment imposed by Covid-19 related restrictions,” commented Mike Bolinder, Acacia Pharma’s CEO. “As for any US hospital product launch, two of the most important key performance indicators of early product acceptance in the market are the number of accounts that have placed the drug on their hospital formulary of approved products and the percentage of hospitals that have reviewed the product and decided to place it on their formulary. The launch of BARHEMSYS, in its first full quarter with our salesforce in place, has exceeded the Company’s expectations and compares very favourably to recent comparable US hospital product launches. This is a great start by our focused and experienced sales force and further positive decisions for inclusions on additional hospital formularies are anticipated in the near term. We will provide a more detailed update on the significant progress that we have made in launching both products at the time of the full year results scheduled for the last week of March.”