Carbylan Therapeutics Announces Pricing Of Initial Public Offering

PALO ALTO, Calif., April 8, 2015 (GLOBE NEWSWIRE) -- Carbylan Therapeutics, Inc. (the "Company") today announced the pricing of its initial public offering of 13,000,000 shares of its common stock at a price to the public of $5.00 per share. The shares will be listed on the NASDAQ Global Market and will trade under the ticker symbol "CBYL" beginning on April 9, 2015. The Company is offering all 13,000,000 shares of common stock. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of common stock.

Leerink Partners LLC is acting as sole book-running manager and representative of the underwriters in the offering. JMP Securities LLC and Wedbush Securities Inc. are acting as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering will be made only by means of the written prospectus forming part of the effective registration statement. Copies of the final prospectus, when available, may be obtained from: Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1 (800) 808-7525 ext. 6142 or by email at syndicate@leerink.com.

This press release does 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Carbylan Therapeutics, Inc.

Carbylan is a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel and proprietary combination therapies that address significant unmet clinical needs. The Company's lead product candidate, Hydros-TA, is a proprietary, cross-linked combination of low dose corticosteroid and novel hyaluronic acid viscosupplement.

CONTACT: For more information, please contact: The Ruth Group Lee Roth/David Burke 646-536-7012/7009

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