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Anthera Pharmaceuticals, Inc. Completes Initial Public Offering


3/5/2010 8:19:44 AM

HAYWARD, Calif., March 4 /PRNewswire-FirstCall/ -- Anthera Pharmaceuticals, Inc. , a biopharmaceutical company developing drugs to treat serious diseases associated with inflammation, today announced the completion of its initial public offering of six million shares of common stock at a price of $7.00 per share. The net proceeds of the offering to Anthera, after deducting underwriting discounts and commissions and estimated offering expenses payable by Anthera, were approximately $36.7 million. In addition, Anthera has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any. The sole book-running manager of the offering is Deutsche Bank Securities Inc. Piper Jaffray & Co. is a co-lead manager of the offering and Cowen and Company, LLC and Merriman Curhan Ford & Co. are co-managers of the offering.

In addition, Anthera issued an aggregate of 531,914 shares of common stock to Eli Lilly and Shionogi and Co., Ltd in satisfaction of a $3.5 million milestone payment related to the initiation of the VISTA-16 trial for A-002, which Anthera expects to initiate in the near future.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or 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 jurisdiction.

Anthera Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation, including cardiovascular and autoimmune diseases. Anthera has one Phase 3 ready clinical program, A-002, and two Phase 2 clinical programs, A-623 and A-001. A-002 and A-001 inhibit a novel enzyme target known as secretory phospholipase A2, or sPLA2. Elevated levels of sPLA2 have been implicated in a variety of acute inflammatory conditions, including acute coronary syndrome and acute chest syndrome, as well as chronic diseases such as stable coronary artery disease, or CAD. Anthera's Phase 2 ready product candidate, A-623, targets elevated levels of B-lymphocyte stimulator, or BLyS, which has been associated with a variety of B-cell mediated autoimmune diseases, including systemic lupus erythematosus, or lupus. Anthera has worldwide rights to its product candidates, with the exception of Japan, where Shionogi & Co., Ltd. retains commercial rights to its sPLA2 product candidates.

This press release contains forward-looking statements. Forward-looking statements relate to future events. These statements are only predictions. The outcome of the events described in these forward-looking statements is subject to risks and uncertainties. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and the timing of events and circumstances and actual results could differ materially from those projected in the forward looking statements.

CONTACT: Juliane Snowden of Burns McClellan, Inc., +1-212-213-0006,
jsnowden@burnsmc.com, for Anthera Pharmaceuticals, Inc.

Web site: http://www.anthera.com/



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