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Anthera Pharmaceuticals Announces Pricing of $31.5 Million PIPE Financing
Date:9/21/2010

HAYWARD, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Anthera Pharmaceuticals, Inc. (Nasdaq: ANTH), today announced that it has entered into definitive agreements with certain accredited investors in connection with a private placement, or PIPE, financing transaction pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Regulation D promulgated thereunder.  Upon the closing of the transaction, Anthera will receive gross proceeds of approximately $31.5 million in exchange for the issuance to such investors of 10,500,000 units, with each unit consisting of one share of Anthera common stock and one warrant to purchase 0.40 shares of Anthera common stock.  The warrants will be exercisable for a period of five years from the date of their issuance at an exercise price of $3.30 per share.  The closing of the transaction, which is subject to customary closing conditions, is scheduled to occur on or prior to September 24, 2010.  Anthera intends to use the net proceeds of the transaction to fund the previously announced expansion of Anthera's A-623 Phase 2b study, known as PEARL-SC (A Randomized, Double-Blind Phase 2b Study to Evaluate the Efficacy, Safety, and Tolerability of A-623 AdministRation in Subjects with Systemic Lupus Erythematosus), the manufacture of Phase 3 material for A-623, and for general corporate purposes.

Piper Jaffray & Co. served as sole lead placement agent and Wedbush PacGrow Life Sciences served as co-placement agent for the transaction.  

Following the completion of the transaction, Anthera expects that its Board of Directors will appoint Peter Thompson, M.D. to the Board of Directors.  Dr. Thompson is currently a Venture Partner with OrbiMed Advisors, LLC and has over 20 years of industry experience. He co-founded Trubion Pharmaceuticals, and served as CEO and Chairm
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SOURCE Anthera Pharmaceuticals, Inc.
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