Santhera announces Swiss IPO and subsequent listing

30 October 2006

Santhera Pharmaceuticals, a Liestal, Switzerland-based specialty pharmaceutical company with a focus on neuromuscular diseases, has announced details of its proposed Initial Public Offering of shares and its planned listing on the SWX Swiss Exchange.

The company is seeking to raise gross proceeds of approximately 83.6 million to 98.4 million Swiss francs ($657 million-$77.4 million) through an offering of up to 983,859 newly-issued registered shares (excluding those from the over-allotment option). In Switzerland, the shares will be sold through a public offering to Swiss institutional and private investors and outside the country to institutional investors including qualified institutional buyers in the USA via a 144A private placement.

The indicative post-IPO market capitalization of the company is 250.9 million to 295.2 million francs (263.4 million-309.9 million francs if the over-allotment option will be exercised). The expected first day of trading is November 3.

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