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Anesiva Announces Merger With Arcion Therapeutics Will Not be Completed
Date:12/31/2009

SOUTH SAN FRANCISCO, Dec. 31 /PRNewswire-FirstCall/ -- Anesiva, Inc. (Nasdaq: ANSV) announced today that it was unable to satisfy the closing conditions set forth in the Agreement and Plan of Merger, dated August 4, 2009, among Anesiva, Arca Acquisition Corporation, a wholly-owned subsidiary of Anesiva, Arcion Therapeutics, Inc. ("Arcion") and, with respect to Articles V and IX only of the agreement, each of the Arcion stockholders listed on Schedule I thereto (the "Merger Agreement"). The Company intends to immediately cease operations and to file a petition for relief under the Bankruptcy Code.

About Anesiva

Anesiva seeks to be a leader in the development and commercialization of novel pharmaceutical products for pain management. Anesiva's lead product candidate is Adlea, a novel small molecule formulation of capsaicin that is currently in development for the management of acute pain following orthopedic surgeries. Adlea has been shown in clinical trials to provide extended pain relief after only a single administration in multiple indications for site-specific, acute and chronic, moderate-to-severe pain.

Forward-Looking Statements

Except for historical information, this press release may be deemed to contain "forward-looking" statements. Words such as "seek" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding forecasts of product development and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ mat
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