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Valeritas Completes Alternative Public Offering and Raises Gross Proceeds of $25.2 Million
Date:5/4/2016

BRIDGEWATER, New Jersey, May 4, 2016 /PRNewswire/ --

Valeritas Holdings, Inc. (OTCQB: VLRX) announced today its successful completion of an alternative public offering (APO). This was accomplished via a reverse merger of its wholly owned operating company, Valeritas, Inc. and a private placement of approximately 5 million shares of its unregistered common stock at $5.00 per share.

Under the terms of the reverse merger, which was completed on May 3, 2016, Valeritas Holdings, Inc. will trade on the OTC Markets under the symbol "VLRX."  Valeritas, Inc. will continue to operate its business as usual, developing technologies to improve the health and quality of life of people with Type 2 diabetes. Valeritas' flagship product is the V-Go® Disposable Insulin Delivery device, the only commercially available, single-use, fully disposable, insulin delivery device, designed and marketed with the Type 2 diabetes patient in mind.

The net proceeds from the private placement, which amount to approximately $23.7 million, after deducting commissions and estimated expenses, will primarily be used to support sales and marketing activities as well as research and development, including the further commercialization of V-Go. In addition, net proceeds will be used to back the continued development of next generation products and for general corporate purposes, such as working capital. Investors in the private placement include CRG L.P. and Montrose Capital Partners.

"This is an extremely exciting time at Valeritas as the Company very recently shifted its sales strategy to more focused, high-return on investment and profitable sales growth model.  We believe under this new sales model we will be able to successfully impact the massive Type 2 diabetes market in the U.S. with our transformative product offering, V-Go®, in a manner that creates significant value for Valeritas shareholders while minimizing future capital needs," said John Timberlake, President and CEO at Valeritas.

Mr. Timberlake continued, "We would like to thank both existing and new investors for their vote of confidence and support. The APO affords Valeritas a prime opportunity to continue its commercialization activities and significantly advance its important work. We intend to continue making a meaningful and positive difference on the daily lives of the millions living with Type 2 diabetes by increasing our presence throughout the U.S. as well as expanding our product offerings."

Please review the company's Form 8-K which will be filed with the U.S. Securities and Exchange Commission by May 9, 2016 for additional material information about the transaction and the company.

In connection with the private placement, Valeritas has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended, covering the resale of the shares of common stock issued in the reverse merger and the private placement and in connection with the exercise of warrants issued to the placement agents. The shares of common stock issued or to be issued pursuant to the merger, the private placement and the placement agent warrants have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Valeritas
Valeritas is a commercial-stage, medical technology company focused on developing innovative technologies to improve the health and quality of life of people with Type 2 diabetes. Valeritas' flagship product, the V-Go® Disposable Insulin Delivery device, is a simple, wearable, basal-bolus, insulin delivery solution for patients with Type 2 diabetes that enables patients to administer a continuous preset basal rate infusion of insulin over 24 hours. It also provides on-demand bolus dosing at mealtimes.  It is the only basal-bolus insulin delivery system on the market today specifically designed keeping in mind the needs of type 2 diabetes patients. Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D functions in a state-of-the-art facility in Shrewsbury, Massachusetts. For more information, please visit http://www.valeritas.com.

Forward Looking Statements: 

This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Valeritas technologies, anticipated uses of proceeds from the private placement, business and product development plans and market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue Valeritas' business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize the
V-Go® Disposable Insulin Delivery device, competition in the industry in which Valeritas operates and overall market conditions. These forward-looking statements are made as of the date of this press release, and Valeritas assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents Valeritas files with the SEC available at http://www.sec.gov.


Press Contact:
Marjie Hadad
MH Communications
PR@valeritas.com
+1-908-947-0378


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SOURCE Valeritas Holdings Inc.
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