Advanced Life Sciences Holdings, Inc. Announces Pricing of Securities Offering

CHICAGO, July 1 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced that it has established the pricing terms of its proposed offering of units. The Company will offer up to 714,286 units at a price per unit of $4.20 for aggregate gross proceeds of up to $3.0 million. Each unit consists of (i) 100 shares of the Company's common stock, (ii) 100 stock warrants and (iii) one unit warrant. Each stock warrant entitles its holder to purchase one share of the Company's common stock at an exercise price of $0.042 per share. Each unit warrant entitles its holder to purchase one additional unit, consisting of 100 shares of our common stock and 100 stock warrants, at the same price per unit as above. The stock warrants may be exercised at any time during the period commencing six months after the closing date and ending on the fifth anniversary of the closing date. The unit warrants may be exercised at any time during the period commencing on the closing date and ending on December 31, 2010 or, if earlier, the date that is 45 days after our first public announcement that the FDA has accepted our Special Protocol Assessment relating to the additional clinical data needed for regulatory approval of cethromycin in the treatment of community acquired pneumonia. The offering is scheduled to close on or about Wednesday, July 7, 2010, subject to investor confirmation and customary closing conditions.

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Dawson James Securities acted as the exclusive placement agent for the offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. You may obtain these documents for free by visiting EDGAR on the SEC's website, at www.sec.gov. Alternatively, a copy of the prospectus may be obtained from Dawson James Securities, Attention: Monique Maclaren, 925 South Federal Highway, Suite 600, Boca Raton, Florida, 33432-6145 or by calling toll free at (866) 928-0928.

About Advanced Life Sciences

Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases. The Company's lead candidate, Restanza, is a novel oral once-a-day antibiotic in late-stage development for the treatment of respiratory tract infections including CABP and biodefense pathogens including anthrax, plague and tularemia. For more information, please visit us on the web at www.advancedlifesciences.com or follow us on twitter at http://twitter.com/advancedlifesci.

Forward-Looking Statements

Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our management's judgment regarding future events. The Company does not undertake any obligations to update any forward-looking statements whether as a result of new information, future events or otherwise. Our actual results could differ materially from those discussed herein due to several factors including the success and timing of our clinical trials and our ability to obtain and maintain regulatory approval and labeling of our product candidates; our plans to develop and commercialize our product candidates; the loss of key scientific or management personnel; the size and growth of potential markets for our product candidates and our ability to serve those markets; regulatory developments in the U.S. and foreign countries; the rate and degree of market acceptance of any future products; the accuracy of our estimates regarding expenses, future revenues and capital requirements; our ability to obtain financing on terms acceptable to us; our ability to obtain and maintain intellectual property protection for our product candidates; the successful development of our sales and marketing capabilities; the success of competing drugs that become available; and the performance of third party collaborators and manufacturers. These and additional risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.

SOURCE Advanced Life Sciences Holdings, Inc.