PLEASANTON, CA -- (MARKET WIRE) -- December 20, 2006 -- Lipid Sciences, Inc. (NASDAQ: LIPD) announced that on December 18, 2006, it closed a private placement of common stock with fundamental institutional investors led by RA Capital Management. The 4,592,591 shares of common stock were priced at $1.35 resulting in the Company receiving $6.2 million in gross proceeds. The Company expects to use the net proceeds from this financing to fund all aspects of its HDL Therapy development efforts including the completion of the Company's human clinical trial for HDL Selective Delipidation and additional investment in the Company's HDL mimetic peptide development program. Oppenheimer & Co. acted as the placement agent for the Company on this transaction.
