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Advanced Life Sciences Receives $1.5 Million From Exercise of Unit Warrants and Secures Financing Commitment
Date:9/28/2010

CHICAGO, Sept. 28 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced it has received $1.5 million of proceeds from the exercise of the unit warrants issued in the public offering of securities announced on July 1, 2010. Each unit warrant entitled its holder to purchase one additional unit, consisting of 100 shares of the Company's common stock and 100 stock warrants, at the same price as the public offering in July. The Company also announced today that it has entered into an agreement with YA Global Master SPV LTD. ("YA") for the sale of up to $10 million of the Company's common stock over a two-year period.

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"We are extremely pleased with the level of proceeds that we received through the exercise of unit warrants and the commitment by YA to participate in the corporate development of Advanced Life Sciences. The proceeds raised from the exercise of unit warrants will support our working capital needs and the commitment from YA will provide Advanced Life Sciences with access to capital as needed. The intent of the commitment from YA is to provide a flexible source of capital with a known cost at a minimal discount to market and without warrant overhang," said John L. Flavin, President and Chief Financial Officer.

Under the terms of the agreement with YA, Advanced Life Sciences may from time to time, in its discretion, sell newly-issued shares of its common stock to
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SOURCE Advanced Life Sciences Holdings, Inc.
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