SEATTLE, WA -- (MARKET WIRE) -- January 11, 2007 -- Targeted Genetics Corporation (NASDAQ: TGEN) today announced the completion of its private equity offering of 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 warrants 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 gross proceeds from this financing were $8.72 million, with net proceeds from the financing of approximately $8.1 million after deducting the estimated costs associated with the transaction.
