ASIT biotech initiates the search for a strategic commercial partner for the future marketing of gp-

• The Sage Group, an internationally recognized consulting group, has been appointed to identify a commercial partner with a special focus on the US market

• ASIT biotech has developed an innovative immunotherapy product entering a confirmatory phase III study in grass pollen induced allergic rhinitis, requiring only a 3-week treatment course prior to the pollen season

• ASIT biotech is meeting potential partners at the Bio-Europe 2018 partnering conference in Copenhagen this week

Brussels, Belgium, 5 November 2018 - 08:00 am CET - ASIT biotech (ASIT - BE0974289218), a Belgian clinical-stage biopharmaceutical company focused on the research and development of breakthrough allergy immunotherapy products, today announced that it has initiated the search for potential partnerships for the clinical development and future marketing of gp-ASIT+™, its lead innovative product candidate to prevent grass pollen induced allergic rhinitis. gp-ASIT+™ has completed an extensive clinical program including an initial Phase III study that showed significant symptom improvement in patients after a short course treatment with this novel approach to treatment using an adjuvant-free mixture of highly purified natural allergen fragments. The Company is currently preparing a confirmatory phase III study in approximately 600 patients with screening expected to begin in early 2019 in order to treat all patients before the start of the 2019 pollen season. In this context, ASIT biotech has launched the preparation of its commercial development strategy and appointed The Sage Group, operating in the United States, Europe and Israel, to assist the Company in the identification of a commercial partner. The objective is to conclude a strategic agreement for the commercialization of gp-ASIT+™ notably on the U.S. market, and potentially in other world markets. Subject to the successful confirmatory phase III study with gp-ASIT+™, ASIT biotech will offer an innovative and de-risked immunotherapy product to prevent grass pollen rhinitis, a highly prevalent allergy impacting millions of patients globally. A future partner could also potentially access the ASIT biotech immunotherapy pipeline for food and house dust mite allergies, currently in preclinical development. As part of this commercialization process, ASIT biotech will hold a number of business meetings at BIOEurope, the largest European partnering conference for the pharmaceutical industry, taking place in Copenhagen, Denmark, November 5-7, 2018. Thierry Legon, CEO of ASIT biotech, says: “It is the right time to initiate this search for a commercial partner for gp-ASIT+™. Based on the strong clinical data package gathered to date and assuming further robust second phase III outcomes, we believe that our lead product will offer a great commercial opportunity to a potential partner in the highly demanding area of allergy immunotherapy. Furthermore, attending BIO-Europe is always a great opportunity to present in a short time our recent achievements to many professionals in the pharmaceutical industry.” ASIT biotech will also attend the following upcoming investor meetings & partnering events • Jefferies London Healthcare Conference: November 14-15, 2018, London (UK)

• Finance Avenue: November 17, 2018, Brussels (Belgium)

• Actionaria retail investor fair: November 22-23, 2018, Paris (France)

• JP Morgan Healthcare Conference 2019: January 7-10, 2019, San Francisco (US)

• ODDO BHF Forum 2019: January 10-11, 2019, Lyon (France)

• BioMed Event: January 22, 2019, Paris (France) *** About The Sage Group The Sage Group is a leader in the provision of transactional and strategic advice to companies in the healthcare and life science sectors. The Sage Group provides insightful analysis and strategic recommendations to help clients reach their strategic goals and objectives, usually one or more transactions, and we work diligently and intelligently with our global network to close these deals. Sage are very "hands-on" in identifying appropriate commercial partners and assets to grow and realize the value of a business. Sage processes are intense and productive. They work with their clients at every stage of the deal making process, including business analysis, production of refined communication materials, sourcing the best global target network, ensuring the right people are onside to facilitate a deal and finally negotiating and closing the deal on terms which will achieve optimal value for our client's stakeholders. Sage works exclusively with healthcare-focused clients across a range of sectors in the bio industries, including: Pharmaceuticals, Biotechnology, Diagnostics, Medical devices and Medical technology, Analytical instrumentation, Veterinary health, Nutraceuticals and Functional Foods. The Sage Group is an organization of experienced and successful executives who are committed to the service of the very vital and dynamic health care industry and its investors The Sage Group is located in the USA, Europe, Japan, Israel and Australia. Further information can be found at https://www.sagehealthcare.com Contacts Dr. Bill Mason The Sage Group The Old Black Barns Lord’s Lane, Ousden CB8 8TX UK Tel: +44 (0) 7785 950134 wtm@sagehealthcare.com Wayne Pambianchi The Sage Group Inc. 1802 Route 31 North #381 Clinton New Jersey 08809 USA wpambianchi@sagehealthcare.com About ASIT biotech ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+™ technology platform, ASIT biotech is currently the only developer of allergy immunotherapy (AIT) product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech’s product pipeline contains three novel ASIT+™ product candidates targeting respiratory allergies with the highest prevalence (i.e. grass pollen: gp-ASIT+™ and house dust mite: hdm-ASIT+™), and food allergies (peanut allergy: pnt-ASIT+™) that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+™ platform is flexible and would be applicable across a range of allergies

ASIT biotech has a headcount of 26 staff members, at its headquarters in Brussels and a laboratory in Liège, Belgium.

Further information can be found at www.asitbiotech.com

Contacts Company Thierry Legon, CEO ASIT biotech Tel.: +32 2 264 03 90 investors@asitbiotech.com Media and Investor Relations - France NewCap Dusan Oresansky / Pierre Laurent Tel.: +33 1 44 71 94 92 asitbiotech@newcap.eu Media Relations - Belgium Laure-Eve Monfort Tel.: +32 2 290 90 93 monfort@comfi.be Forward-looking statements All statements in this announcement that do not relate to historical facts and events are “forward-looking statements”. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will,” “plans,” “continue,” “ongoing,” “potential,” “predict,” “project,” “target,” “seek” or “should” or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. Forward-looking statements include statements regarding the Company’s intentions, beliefs or current expectations. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. Any forward-looking statements are made only as of the date of this announcement and, without prejudice to the Company’s obligations under applicable law in relation to disclosure and ongoing information, the Company does not intend, and does not assume any obligation, to update the forward-looking statements set forth in this announcement.

Legal notice - The Company is responsible for the information contained in this press release. This announcement does not constitute, or form part of, an offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for shares of ASIT biotech SA (the “Company” and the “Shares”). Any purchase of, subscription for or application for, shares to be issued in connection with the intended offering should only be made on the basis of information contained in the prospectus and any supplements thereto, as the case may be. This announcement does not constitute a prospectus and the information contained herein is for information purposes only and does not purport to be full or complete. Investors should not subscribe for any Shares except on the basis of the information contained in the prospectus that the Company expects to publish after its approval by the Belgian Financial Services and Markets Authority, and which can then be obtained at the Company’s registered office and on www.asitbiotech.com

This announcement is not for distribution, directly or indirectly, in or into the United States or to any U.S. person within the meaning of the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares have not been and will not be registered under the Securities Act and may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act. The Company has not registered, and does not intend to register, any portion of the intended offering of Shares in the United States, and does not intend to conduct a public offering of Shares in the United States.

This announcement and the information contained herein are not for publication, distribution or release in or into the United States, Australia, Canada, Japan or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.