MARINA DEL REY - Armata Pharmaceuticals, Inc., a biotechnology company focused on pathogen specific bacteriophage therapeutics for antibiotic resistant and difficult to treat bacterial infections, today announced that it has entered into a credit and security agreement with Innoviva Strategic Opportunities LLC, a wholly owned subsidiary of Innoviva, Inc. (Nasdaq: INVA) (collectively, 'Innoviva').

The gross proceeds of the credit agreement at closing are $25 million before transaction related expenses.

Armata also announced today a leadership transition whereby Dr. Deborah L. Birx will succeed Dr. Brian Varnum as the Chief Executive Officer of the Company, effective immediately. Dr. Birx will also join Armata's Board of Directors.

About Armata Pharmaceuticals, Inc.

Armata is a clinical stage biotechnology company focused on the development of pathogen specific bacteriophage therapeutics for the treatment of antibiotic resistant and difficult to treat bacterial infections using its proprietary bacteriophage based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Armata is committed to advancing phage with drug development expertise that spans bench to clinic including in house phage specific GMP manufacturing.

Contact:

Pierre Kyme

Email: ir@armatapharma.com

Tel: 310 665 2928

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