Helmsley Charitable Trust and Akston Biosciences Corporation Extend Partnership

July 24, 2019 – The Leona M. and Harry B. Helmsley Charitable Trust has completed an extension of its program-related investment (PRI) with Akston Biosciences to support the process development and GMP manufacturing of AKS-107, the company’s lead diabetes candidate for the prevention of Type 1 Diabetes. As part of the agreement, Helmsley will provide an additional $3.1 million over a two-year period in the form of a loan to advance AKS-107 into a first-in-man clinical trial in 2020. Dr. Todd Zion, Akston’s CEO said, “the Helmsley Charitable Trust has been a critical and early supporter of our Type 1 Diabetes therapeutic program, and we are delighted to see their continued support of our program as we advance our lead candidate into the clinic.”