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DOR BioPharma Announces Private Equity Financing of $3.85 Million with its Partner Sigma-Tau and Other Institutional Investors
Date:9/24/2009

PRINCETON, N.J., Sept. 24 /PRNewswire-FirstCall/ -- DOR BioPharma, Inc. (DOR or the Company) (OTC Bulletin Board: DORB), a late-stage biotechnology company, announced today that it has entered into common stock purchase agreements with institutional investors totaling approximately $3.85 million. DOR's North American commercial partner, Sigma-Tau Pharmaceuticals, Inc., participated in this financing.

Under the terms of the agreements, DOR will sell approximately 15,200,000 common shares together with a five-year warrant to purchase up to approximately 7,600,000 shares of DOR common stock at $0.278 per share, for an aggregate price of approximately $3.85 million ($0.253 per share representing the market price of DOR's common stock as measured by its five- day trailing average as of September 22, 2009). The expiration date of the warrants will be accelerated if the Company's common stock meets certain price thresholds and DOR would receive additional gross proceeds of approximately $2.11 million if exercised.

"We are pleased with this vote of confidence and support from our partner Sigma-Tau and the institutional investors," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of DOR. "This financing is designed to provide the fuel to complete our confirmatory Phase 3 clinical study of orBec(R) in the treatment of acute GI GVHD, an unmet medical need. We are looking forward to the imminent initiation of this trial."

The Company's common stock will be sold to accredited investors in a private placement in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The shares will not be registered under the Securities Act or any state securities laws, and the shares may not be offered or sold by the investors absent registration or an applicable exemption from the registration requirements of th
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SOURCE DOR BioPharma, Inc.
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