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Ardea Biosciences Announces $40 Million Private Placement
Date:12/20/2007

programs with four new chemical entities (NCEs) in the clinic for three distinct indications by early 2008, with an additional one-to-two indications in inflammatory diseases planned for the first half of 2008.

Ardea's most advanced clinical development programs include: RDEA806, the Company's lead non-nucleoside reverse transcriptase inhibitor (NNRTI) for the treatment of HIV, which is expected to enter a Phase 2a clinical trial in the fourth quarter of 2007; RDEA119, a mitogen-activated ERK kinase (MEK) inhibitor for the treatment of cancer and inflammatory diseases, which is in a Phase 1 clinical trial in advanced cancer patients; RDEA806 for gout, which is expected to enter a Phase 2 efficacy trial in the first half of 2008. Ardea also is developing a next-generation NNRTI and a next-generation MEK inhibitor, both of which are scheduled to enter first-in-human studies in early 2008.

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the private placement, the expected closing of the private placement and Ardea's goals, including its goal of having active development programs with four new chemical entities (NCEs) in the clinic for three distinct indications by early 2008, with an additional one-to-two indications in inflammatory diseases in the first half of 2008, the expected properties and benefits of its compounds and the results of clinical and other studies. Words such as "believes," "anticipates," "plans," "expects," "intend," "will," "goal" and similar expressions are intended to identify forward-looking statements. The inclusion of forward-looking statements
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SOURCE Ardea Biosciences, Inc.
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