Announcement of Open Offer

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The Board announces an open offer (the “Open Offer") of up to 10,778,066 ordinary shares of 2 pence each (the “New Ordinary Shares”) at an issue price of 9.5 pence (the “Issue Price”) per New Ordinary Share to all eligible shareholders to subscribe for new shares in Source BioScience. The Open Offer is to raise up to approximately £1.02m before expenses and to the extent that the Open Offer is not taken up by Qualifying Shareholders, the Board intends to seek subscribers for such shares on substantially the same terms as the Open Offer.

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