CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 27, 2006--Idera Pharmaceuticals, Inc. (AMEX: IDP) announced today that it has raised $9.75 million in gross proceeds from the private placement of common stock and warrants to new institutional investors, led by Baker Brothers Investments and including Tang Capital Partners, LP, and OrbiMed Advisors, LLC. The Company has also secured a commitment to purchase up to $9.75 million of common stock from Biotech Shares Ltd., an entity formed by several current long-term Idera stockholders, supported by a letter of credit confirmed by JPMorgan Chase Bank, N.A.
