GlobeNewswire Inc | Aug 28, 2020 04:05PM EDT

August 28, 2020

MENLO PARK, Calif., Aug. 28, 2020 (GLOBE NEWSWIRE) -- CohBar, Inc. (NASDAQ: CWBR) (the Company), a clinical stage biotechnology company developing mitochondria based therapeutics to treat chronic diseases and extend healthy lifespan, today announced the closing of its previously announced underwritten public offering of 12,300,000 units at a price to the public of $1.22 per unit. Each unit consists of one share of the Companys common stock and one warrant to purchase 0.75 of a share of common stock at a per share exercise price of $1.44. In addition, the underwriters partially exercised the over-allotment option for warrants to purchase an additional 1,383,750 shares. The warrants are exercisable for five years from the closing date of the offering. The aggregate gross proceeds from this offering were approximately $15.0 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Roth Capital Partners acted as sole book-running manager for the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC, and WBB Securities acted as co-managers.

The securities were issued pursuant to an effective shelf registration statement filed with theSecurities and Exchange Commission(SEC) onNovember 22, 2017. A final prospectus supplement and accompanying prospectus relating to the offering were filed with theSECand are available on the SECs website atwww.sec.gov. Copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SECs website atwww.sec.govor from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, Attn: Prospectus Department, telephone: 800-678-9147.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About CohBar

CohBar (NASDAQ: CWBR) is a clinical stage biotechnology company focused on the research and development of mitochondria based therapeutics, an emerging class of drugs for the treatment of chronic and age-related diseases. Mitochondria based therapeutics originate from the discovery by CohBars founders of a novel group of naturally occurring peptide sequences within the mitochondrial genome,some of whichhave been shown tohave the potential to regulatekey processes inmultiplesystems andorgans in the body. To date, the company has discovered more than 100 mitochondrial derived peptides and generated over 1,000 analogs. CohBars efforts focus on the development of these peptides into therapeutics that offer the potential to address a broad range of diseasesbecause of the underlying impact of mitochondrial dysfunction. The companys lead compound, CB4211, is in the Phase 1b stage of a Phase 1a/1b clinical trial for NASH and obesity. In addition, CohBarcurrentlyhas four preclinical programs: CB5138 Analogs for fibrotic diseases,CB5064 Analogs for COVID-19 associated ARDS and type 2 diabetes, MBT5 Analogs for CXCR4-related cancer and orphan diseases, and MBT3 Analogs for cancer immunotherapy.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Additional risks and uncertainties relating to CohBar and its business can be found under the heading Risk Factors in CohBars Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, and other filings with the SEC, and in the preliminary prospectus supplement related to the proposed public offering to be filed with the SEC on or about the date hereof. Except as otherwise required by law, CohBar does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

For additional company information, please visitwww.cohbar.com.

Contacts: Jordyn Tarazi Director of Investor Relations CohBar, Inc.(650) 445-4441jordyn.tarazi@cohbar.com

Joyce AllaireLifeSci Advisors, LLCjallaire@lifesciadvisors.com