Perlegen Sciences, Inc. Files For $115 Million IPO

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--April 10, 2006--Perlegen Sciences, Inc., announced today it has filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of shares of its common stock. All shares of the common stock to be sold in this offering will be sold by Perlegen Sciences, Inc.

Perlegen is a biopharmaceutical company developing a pipeline of late-stage genetically targeted medicines. The company also collaborates with pharmaceutical companies to apply genetics to drug response and disease.

Lehman Brothers Inc. and Deutsche Bank Securities Inc. will be acting as joint book-running managers and representatives of the underwriters and are co-managers with Piper Jaffray & Co. and Allen & Company LLC. The numbers of shares to be offered and the price range have not yet been determined. This offering will be made only by means of a prospectus. Copies of the preliminary prospectus for this offering may be obtained, when available, from Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717 or by fax at (631) 254-7268 or Deutsche Bank Securities Inc., Attn: Prospectus Department, 1251 Avenue of the Americas, 29th floor, New York, NY 10019 or email a request to prospectusrequest@list.db.com.

A registration statement relating to these securities has been filed with the SEC, but it has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release shall not constitute an offer to sell or a 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.

This news release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include Perlegen's plans to sell securities in an initial public offering. Such statements are only predictions and actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include the risk that products that appeared promising in early research and clinical trials do not demonstrate safety or efficacy in larger-scale clinical trials and the risk that the company will not obtain approval to market its products.

Contact: Perlegen Sciences, Inc. Brad Margus, 650-625-4500

Source: Perlegen Sciences, Inc.