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Regulus Announces $80.9 Million in Total Gross Proceeds from IPO and Other Recent Financial Transactions
Date:11/5/2012

LA JOLLA, Calif., Nov. 5, 2012 /PRNewswire/ -- Regulus Therapeutics Inc. (NASDAQ: RGLS), a biopharmaceutical company leading the discovery and development of innovative medicines targeting microRNAs, summarized today its recent financing activity that the company expects will enable Regulus to execute its current strategic objectives for the foreseeable future.

In connection with Regulus' Initial Public Offering (IPO), which closed on October 10, 2012, and other recent financial transactions, Regulus has raised $80.9 million in gross proceeds, including:

  • $50.9 million from the sale of common stock in the IPO, inclusive of an over-allotment option exercise by the underwriters and insider participation by Isis Pharmaceuticals, Inc., one of our founding companies, and two of our strategic partners, Sanofi and GSK;
  • $25.0 million from the sale of common stock in a private placement to AstraZeneca AB, one of Regulus' strategic partners, that closed concurrently with the IPO; and
  • $5.0 million from the sale of a convertible note in August 2012 to Biogen Idec, one of Regulus' research collaborators, which converted into shares of common stock at the completion of the IPO.

"We are excited to have reached this important point in Regulus' life," said Kleanthis G. Xanthopoulos, Ph.D., President and CEO of Regulus. "With the company well capitalized for the foreseeable future, we are focused on building a meaningful clinical portfolio and realizing the transformative potential of microRNA therapeutics."

About Regulus

Regulus Therapeutics Inc. (NASDAQ: RGLS) is a biopharmaceutical company leading the discovery and development of innovative medicines targeting microRNAs. Regulus is leveraging a mature therapeutic platform based on technology that has been developed over 20 years. Regulus works with a broad network of academic collaborator
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SOURCE Regulus Therapeutics Inc.
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