Denali Capital Acquisition Corp. Announces Intention to Extend Deadline to Complete an Initial Business Combination

NEW YORK,July 8,2023 --Denali Capital Acquisition Corp. (NASDAQ: DECA) ("Denali" or the "Company") announced today that it intends to deposit into the Company's trust account an aggregate of $825,000 in order to further extend the period of time the Company has to consummate its initial business combination by an additional three months,from the current deadline of July 11,2023 to October 11,2023 (the "Extension"). In connection with the Extension,the Company expects to deposit the additional funds into the trust account on or before the current deadline of July 11,2023. The Company is permitted to extend the period of time to consummate a business combination by up to two times,each time by an additional three months,subject to the requirement to deposit additional funds into the Company's trust account.

About Denali Capital Acquisition Corp.

Denali Capital Acquisition Corp. is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger,share exchange,asset acquisition,share purchase,reorganization,or similar business combination with one or more businesses or entities.

Forward-Looking Statements

This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are subject to numerous conditions,risks and changes in circumstances,many of which are beyond the control of the Company,including those set forth in the "Risk Factors" section of the Company's prospectus for its initial public offering filed with the SEC. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events,conditions or circumstances on which any statement is based.