AmpliPhi Biosciences Corporation (NYSEMKT:APHB), a biotechnology company focused on the development and commercialization of novel bacteriophage-based antibacterial therapeutics, today announced the settlement of its pending lawsuit with NRM VII Holdings I, LLC ("NRM"). The lawsuit relates to a complaint filed by NRM against AmpliPhi and the members of its board of directors following the automatic conversion of NRM's Series B convertible preferred stock into common stock of AmpliPhi in April 2016. The complaint sought unspecified money damages and other relief. Under the terms of a settlement agreement, NRM has agreed to dismiss with prejudice the lawsuit and AmpliPhi's insurance carrier will make a cash payment of $2.0 million to NRM. A portion of the settlement payment (approximately $914,000) is attributable to accrued dividends that became payable to NRM upon the automatic conversion of its Series B convertible preferred stock into common stock, which amount is recorded in AmpliPhi's balance sheet at September 30, 2016. AmpliPhi has agreed to pay its insurance carrier for the accrued dividends amount on an installment basis. AmpliPhi and NRM have agreed to release all claims against each other and all related parties. NRM and its affiliates continue to be significant shareholders in AmpliPhi. "AmpliPhi is pleased that this matter has been resolved," said M. Scott Salka, CEO of AmpliPhi Biosciences. "We believe that this settlement is in the best interests of our company and our shareholders. We will continue to focus on advancing our portfolio of innovative phage-based therapies and creating value from our proprietary technologies." About AmpliPhi Biosciences AmpliPhi Biosciences Corporation (NYSEMKT: APHB) is a biotechnology company focused on the development and commercialization of novel bacteriophage-based antibacterial therapeutics. AmpliPhi's product development programs target infections that are often resistant to existing antibiotic treatments. AmpliPhi has reported topline results from two Phase 1 clinical trials of AB-SA01, one for the treatment of Staphylococcusaureus ( S. aureus) in chronic rhinosinusitis patients and one to evaluate the safety of AB-SA01 when administered topically to the intact skin of healthy adults. AmpliPhi expects to report final data from each trial by the end of 2016. AmpliPhi is also developing bacteriophage therapeutics targeting Pseudomonas aeruginosa ( P. aeruginosa) and Clostridiumdifficile ( C. difficile) in collaboration with a number of leading organizations focused on the advancement of bacteriophage-based therapies. About Bacteriophage Bacteriophage are naturally occurring viruses that are highly specific for the bacterial hosts they infect. They can rapidly kill their host, amplifying themselves in the process. Bacteriophage are unaffected by antibiotic resistance and are able to disrupt bacterial biofilms. Such biofilms are a major line of defense for bacteria, contributing to antibiotic resistance. Bacteriophage are able to penetrate biofilms and replicate locally to high levels, to produce strong local therapeutic effects without destroying bacteria important to normal human health.