Vital Therapies, Inc. (VTI) Files For $86.25 Million IPO

SAN DIEGO, CA--(Marketwired - October 11, 2013) - Vital Therapies, Inc., a biotherapeutic company developing a cell-based therapy targeting the treatment of acute liver failure, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Credit Suisse Securities (USA) LLC and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Canaccord Genuity Inc. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained, when available, from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, Telephone: (800) 221-1037, Email: newyork.prospectus@credit-suisse.com; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, Telephone: (800) 621-0687.

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.

About Vital Therapies, Inc.

Vital Therapies, Inc. is a biotherapeutic company developing a cell-based therapy targeting the treatment of acute liver failure. The company's lead product-candidate, ELAD, is an extracorporeal bio-artificial liver currently in phase 3 clinical trials. Vital Therapies, Inc. is based in San Diego, California.

Vital Therapies® and ELAD® are trademarks of Vital Therapies, Inc.

This press release may contain forward-looking statements, including but not limited to statements regarding Vital Therapies, Inc.'s proposed initial public offering, and current and future clinical studies. These statements relate to future events and are subject to risks, uncertainties and assumptions. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Many factors or events may cause our actual results to differ materially from any forward-looking statement. We do not undertake to update any forward-looking statements.