Heat Biologics Announces Planned Name Change to NightHawk Biosciences, Reflecting Company’s Evolution, Therapeutic Pipeline Expansion, Vertical Integration and New Biodefense Capabilities

Key Corporate Updates Announced Via Livestream Event from Manhattan, Kansas, available for replay at Nighthawkbio.com

DURHAM, N.C., April 19, 2022 (GLOBE NEWSWIRE) -- Heat Biologics, Inc. (“Heat”) (NYSE American: HTBX), a clinical-stage biopharmaceutical company focused on developing novel biodefense assets and first-in-class therapies to modulate the immune system, today announced that it is changing the name of the Company to NightHawk Biosciences, Inc., effective May 3, 2022, to better reflect the Company’s evolution, including expansion of its therapeutic pipeline, the vertical integration of capabilities from drug discovery to manufacturing and commercialization, as well as the Company’s new biodefense capabilities. In connection with the name change, the Company’s ticker will change to “NHWK,” effective May 3, 2022. The livestream event, held at the Purple Masque Theatre at Kansas State University in Manhattan, Kansas and other locations, is available on the Company’s new website at: NightHawkBio.com.

NightHawk will focus on rapid and efficient drug development through its integrated ecosystem of subsidiary companies, which includes Skunkworx Bio (Skunkworx), Heat Biologics (Heat), Pelican Therapeutics (Pelican), Scorpion Biological Services (Scorpion) and Elusys Therapeutics (Elusys). The Company believes this fully-integrated ecosystem enables a more rapid delivery of medical innovations with increased quality and efficiency.

During the event, the Company announced several key corporate developments, including:

• Discovery subsidiary Skunkworx continues to make progress across a variety of infectious disease, biodefense and oncology-related indications, with an intended public announcement of these programs set to occur later this year.
• Scorpion is expected to host the grand opening of its San Antonio facility following completion of construction in Q3, 2022.
• PTX-35 is nearing final enrollment in its last cohort of its Phase 1 solid tumor trial, and just recently announced a presentation of new data at the American Association of Cancer Research (AACR).
• A planned research collaboration with Kansas State University’s Biosecurity Research Institute on its RapidVax biodefense program.
• Expanded efforts by biodefense Elusys Therapeutics to support international sales of ANTHIM^® (obiltoxaximab). ANTHIM^® is indicated in adult and pediatric patients for the treatment of inhalational anthrax due to Bacillus anthracis in combination with appropriate antibacterial drugs, and for prophylaxis of inhalational anthrax when alternative therapies are not available or are not appropriate. ANTHIM^® should only be used for prophylaxis when its benefit for prevention of inhalational anthrax outweighs the risk of hypersensitivity and anaphylaxis. Additional details are available at https://anthim.com/
• Richard Myers, who previously served as the Chairman of the Joint Chiefs of Staff before serving as President of Kansas State University, will become Chairman of NightHawk’s BioThreat Advisory Board.

Jeff Wolf, Chief Executive Officer of NightHawk, commented, “Over the past 18 months, we’ve built a powerful drug discovery engine in our SkunkWorx subsidiary. We’ve been building our Scorpion subsidiary to deliver world-class biomanufacturing. And we announced the acquisition of Elusys Therapeutics, a biodefense company, which we intend to grow into a biodefense powerhouse.”

Mr. Wolf added, “The pandemic highlighted the fact that the development of new drugs is tremendously slow, encumbered, and expensive. These are enormous barriers to American progress. We believe the solution is full integration of discovery, preclinical testing and manufacturing, optimized to quickly and efficiently deliver drugs to the people who need them.”

Mr. Wolf continued, “The NightHawk model represents a new way of thinking and is designed to combine speed and agility with the full-integration of discovery, development and manufacturing. We are excited to continue to build and enhance this ecosystem under the NightHawk banner.”

About Heat Biologics / NightHawk Biosciences, Inc.
Heat Biologics (to become “NightHawk Biosciences”) is a fully-integrated biopharmaceutical company focused on the development of new drugs from discovery through manufacturing. The Company leverages its integrated ecosystem of subsidiaries to accelerate the creation of novel therapies that arm the immune system, breaking through barriers that prolong traditional drug development. This empowers us to bring our ideas to life with efficient control, superior quality, and uncharacteristic agility.

For more information on the Company and is subsidiaries, please visit: www.nighthawkbio.com, and also follow us on Twitter.

Forward Looking Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 on our current expectations and projections about future events. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectation, and assumptions and include statements regarding the planned name change, the fully-integrated ecosystem enabling a more rapid delivery of medical innovations with increased quality and efficiency, Skunkworx’s continued progress across a variety of infectious disease, biodefense and oncology-related indications, with an intended public announcement of these programs set to occur later this year, the grand opening of Scorpion’s San Antonio facility following completion of construction in Q3, 2022, a planned research collaboration with Kansas State University’s Biosecurity Research Institute on its RapidVax biodefense program, Richard Myers becoming Chairman of NightHawk’s BioThreat Advisory Board, growing Elysus into a biodefense powerhouse, the solution to barriers to development of new drugs being a full integration of discovery, preclinical testing and manufacturing, optimized to quickly and efficiently deliver drugs to the people who need them. These statements are subject to a number of risks and uncertainties, many of which are difficult to predict, including Heat’s ability to enable a more rapid delivery of medical innovations with increased quality and efficiency, the ability to integrate discovery, preclinical testing and manufacturing, and optimize such integration to quickly and efficiently deliver drugs to the people who need them, the contributions to be derived from Richard Myers and NightHawk’s BioThreat Advisory Board, the ability to complete construction of, and open, Scorpion’s San Antonio facility in Q3, 2022, Skunkworx’s ability to continue progress across a variety of infectious disease, biodefense and oncology-related indications, the contributions to be derived from the collaboration with the Kansas State University’s Biosecurity Research Institute , Heat's ability to augment its clinical programs and enhance and expand its therapeutic pipeline, the ability of Heat's therapies to perform as designed, to demonstrate safety and efficacy, as well as results that are consistent with prior results, the ability to enroll patients and complete the clinical trials on time and achieve desired results and benefits, Heat's ability to obtain regulatory approvals for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to Heat's ability to promote or commercialize its product candidates for specific indications, acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products, Heat's ability to maintain its license agreements, the continued maintenance and growth of its patent estate, its ability to establish and maintain collaborations, its ability to obtain or maintain the capital or grants necessary to fund its research and development activities and its cash and short-term investments providing significant runway to fund Heat’s current clinical programs and further expand Heat’s therapeutic portfolio , its ability to continue to maintain its listing on the Nasdaq Capital Market and its ability to retain its key scientists or management personnel, and the other factors described in Heat's most recent annual report on Form 10-K for the year ended December 31, 2021 filed with the SEC, and other subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and Heat undertakes no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.

Media and Investor Relations Contact
David Waldman
+1 919 289 4017
investorrelations@heatbio.com

Released April 19, 2022