SEATTLE, WA -- (MARKET WIRE) -- January 08, 2007 -- Targeted Genetics Corporation (NASDAQ: TGEN) today announced that it has obtained agreement from select institutional investors to purchase in a private placement 2.18 million shares of Targeted Genetics’ common stock, together with warrants to purchase up to an aggregate of 763,000 shares of Targeted Genetics common stock, subject to adjustment pursuant to the terms of the warrants, at a price of $4.00 per share of common stock. The purchase price per share of common stock represents a discount of 16% to the Company’s 45-day trailing average closing price on the NASDAQ Capital Market. The warrants to be issued in the transaction will be exercisable at $5.41 per share, the closing price of Targeted Genetics common stock on the NASDAQ Capital Market on January 5, 2007, the trading day immediately prior to Targeted Genetics entering into the binding agreement to sell the securities. The financing is expected to close on January 11, 2007, subject to satisfaction of customary closing conditions.
