Date:7/8/2009

on stock, will be sold for a purchase price of $1.25. The warrants will be issued in three tranches with 25% having an exercise price equal to $1.25 per share, 25% having an exercise price equal to $1.71 per share, and 50% having an exercise price equal to $2.28 per share. The warrants are redeemable by the Company, at a redemption price of $0.001 per warrant share, upon 30 days notice, if at any time, the volume weighted average price of the common stock for any 20 consecutive business days is equal to or greater than 200% of the then applicable exercise price of the warrants.

The securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under such act and applicable state securities laws or an applicable exemption from those registration requirements. Nile has agreed to file a registration statement covering the resale of the shares issued in the private placement, including the shares issuable upon exercise of the warrants. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at '/>"/>

SOURCE Nile Therapeutics, Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4
Related biology technology :

1. Intarcia Therapeutics, Inc. Presents ITCA 650 Phase 1b Study Results as a Late-Breaker at the American Diabetes Association 69th Scientific Sessions
2. Intarcia Therapeutics, Inc. Announces Acceptance of ITCA 650 Phase 1b Study for Late-Breaker Presentation at the American Diabetes Association 69th Scientific Sessions
3. Prospect Therapeutics, Inc.s GCS-100 Inhibited Blood Vessel Formation in a Variety of Cancer Models
4. Cell Therapeutics, Inc. (CTI) to Present at 2009 BIO International Convention
5. Prospect Therapeutics, Inc. Assigns All Its Assets to Joseph F. Finn, Jr., C.P.A. for the Benefit of Its Creditors
6. Cell Therapeutics, Inc. (CTI) to Report 2009 First Quarter Financial Results on May 7
7. Oxygen Biotherapeutics, Inc. Signs Supply Agreement for Clinical-Grade Oxycyte for Clinical Trials and Future Needs
8. Cell Therapeutics, Inc. Announces Single Institutional Investor Purchases $15 Million of Preferred Stock
9. Oxygen Biotherapeutics, Inc. CEO Posts New Blog Entry
10. Stockholder Suits Related to TorreyPines Therapeutics, Inc. Dismissed
11. Webcast Alert: Oxygen Biotherapeutics, Inc. Investor Meeting in Zurich, Switzerland