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Advanced Life Sciences Completes Private Placement for $20 Million
Date:12/13/2007

CHICAGO, Dec. 13 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation, today announced that it completed its private placement of approximately 10.2 million shares of common stock together with warrants to purchase approximately 5.1 million shares of common stock to a group of new and existing institutional investors for approximately $20 million in gross proceeds. Lazard Freres & Co. LLC acted as the lead placement agent with Susquehanna Financial Group LLLP and CRT Capital Group LLC acting as co-placement agents in the transaction.

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"We are very pleased by the confidence and level of commitment shown by the impressive group of new and existing institutional investors who participated in this transaction," said Michael T. Flavin, Ph.D., Chairman & CEO. "The capital from this private placement should allow us to complete the next phase of corporate objectives, including the consummation of a commercial partnership and NDA submission for cethromycin to treat community acquired pneumonia."

The shares sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from applicable registration requirements. The shares were offered and sold only to institutional investors. The Company has agreed to file a regi
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SOURCE Advanced Life Sciences Holdings, Inc.
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