November 24, 2006: Santhera announces exercise of over-allotment option

Liestal, Switzerland - Santhera Pharmaceuticals (SWX: SANN), a Swiss specialty pharmaceutical company with a focus on neuromuscular diseases, today announced that Deutsche Bank, Global Co-ordinator and Lead Manager for its initial public offering (IPO), has fully exercised its option to subscribe for an additional 147,579 newly issued registered shares at the offering price of CHF 90 per share to cover over-allotments ("greenshoe").

 

Following the exercise of this option, the aggregate gross proceeds to Santhera from the IPO are approximately CHF 101.8 million. The ordinary share capital of Santhera Pharmaceuticals Holding AG now consists of 3,099,156 shares corresponding to a market capitalization at the offering price of approximately CHF 278.9 million.

 

Barbara Heller, Santhera's Chief Financial Officer, said: "The timely and full exercise of the over-allotment option highlights again the quality of support for our IPO among a broad range of international investors. The additional funding resulting from the greenshoe will further support us in reaching our goal of becoming a leading specialty pharmaceutical company focused on neuromuscular diseases."

 

Santhera Pharmaceuticals (SWX: SANN) is a Swiss specialty pharmaceutical company focusing on the discovery, development and marketing of small molecule pharmaceutical products for the treatment of severe neuromuscular diseases. Santhera's vision is to become a leading specialty pharmaceutical company offering therapies for a number of indications in this area of high unmet medical need which includes many orphan indications with no current therapy.

 

Santhera currently has four clinical-stage development programs, three of which are investigating its lead compound, SNT-MC17/idebenone, in the treatment of Friedreich's Ataxia (FRDA), Duchenne Muscular Dystrophy (DMD) and Leber's Hereditary Optic Neuropathy (LHON). The fourth clinical program is investigating JP-1730/fipamezole for the treatment of Dyskinesia in Parkinson's Disease (DPD) in cooperation with Juvantia, the compound's owner. The most advanced program, SNT-MC17/idebenone in FRDA, has entered pivotal Phase III clinical development; the other clinical programs are in Phase II. Santhera's drug pipeline comprises another three preclinical programs in cancer cachexia, DMD and type 2 diabetes (out licensed to Biovitrum).

 

For further information on Santhera, please visit www.santhera.com.

 

Barbara Heller, Chief Financial Officer

Phone: +41 (0) 61 906 89 54

 

Thomas Staffelbach, VP Public & Investor Relations

Phone: +41 (0) 61 906 89 47

David Dible

Phone: +44 207 638 95 71

 

THIS NEWS RELEASE CONSTITUTES NEITHER AN OFFERING PROSPECTUS WITHIN THE MEANING OF ARTICLE 652a OF THE SWISS CODE OF OBLIGATIONS NOR A LISTING PROSPECTUS WITHIN THE MEANING OF THE LISTING RULES OF SWX SWISS EXCHANGE. THIS NEWS RELEASE CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES OF SANTHERA PHARMACEUTICALS HOLDING AG. THE SECURITIES HAVE ALREADY BEEN SOLD.

 

THIS NEWS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND MUST NOT BE DISTRIBUTED TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN THE UNITED STATES. THE SECURITIES OF SANTHERA PHARMACEUTICALS HOLDING AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.

 

This NEWS RELEASE contains specific forward-looking statements, e.g. statements including terms like "believe" "assume" "expect" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not rely on forward-looking statements. The Company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

 

STABILIZATION FSA