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Trubion Pharmaceuticals Inc. Announces Initial Public Offering


10/18/2006 9:06:57 AM

SEATTLE, Oct. 18 /PRNewswire-FirstCall/ -- Trubion Pharmaceuticals, Inc. announced today the pricing of its initial public offering of 4,000,000 shares of common stock at $13.00 per share. All shares are being offered by Trubion Pharmaceuticals. Trubion Pharmaceuticals' common stock will trade on the Nasdaq Global Market under the trading symbol "TRBN."

Morgan Stanley & Co. Incorporated is acting as the sole book running and joint lead manager for the offering. Banc of America Securities LLC is acting as co-lead manager for the offering. Co-managers for the offering are Pacific Growth Equities, LLC and Lazard Capital Markets. Trubion Pharmaceuticals has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments, if any.

Concurrent with the offering, Wyeth has agreed to purchase directly from Trubion Pharmaceuticals in a private placement 800,000 shares of common stock at the initial public offering price.

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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.

A copy of the prospectus relating to this offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, by calling 212-761-6775 or by emailing prospectus@morganstanley.com.

About Trubion

Trubion is a biopharmaceutical company creating a pipeline of product candidates to treat autoimmune disease and cancer. The Company's product candidates are novel proteins known as single-chain polypeptides and are designed using its SMIP(TM) custom drug assembly technology. In less than 24 months, the Company designed, developed and submitted to the FDA an Investigational New Drug application for its lead product candidate, TRU-015, which is currently being tested in a Phase IIb clinical trial for the treatment of rheumatoid arthritis. In December 2005, the Company entered into a collaboration agreement with Wyeth for the development and worldwide commercialization of certain therapeutics, including TRU-015. For additional information visit www.trubion.com.

Michelle Burris, CFO Trubion Pharmaceuticals, Inc. 2401 4th Ave, Suite 1050 Seattle, WA 98121 (206) 838-0500

Trubion Pharmaceuticals, Inc.

CONTACT: Michelle Burris, CFO of Trubion Pharmaceuticals, Inc.,+1-206-838-0500, or Mburris@trubion.com

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