Advanced Life Sciences prices securities offering

Jul 1 2010

Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced that it has established the pricing terms of its proposed offering of units.  

The Company will offer up to 714,286 units at a price per unit of $4.20 for aggregate gross proceeds of up to $3.0 million. Each unit consists of (i) 100 shares of the Company's common stock, (ii) 100 stock warrants and (iii) one unit warrant. Each stock warrant entitles its holder to purchase one share of the Company's common stock at an exercise price of $0.042 per share. Each unit warrant entitles its holder to purchase one additional unit, consisting of 100 shares of our common stock and 100 stock warrants, at the same price per unit as above. The stock warrants may be exercised at any time during the period commencing six months after the closing date and ending on the fifth anniversary of the closing date. The unit warrants may be exercised at any time during the period commencing on the closing date and ending on December 31, 2010 or, if earlier, the date that is 45 days after our first public announcement that the FDA has accepted our Special Protocol Assessment relating to the additional clinical data needed for regulatory approval of cethromycin in the treatment of community acquired pneumonia.  The offering is scheduled to close on or about Wednesday, July 7, 2010, subject to investor confirmation and customary closing conditions.

Dawson James Securities acted as the exclusive placement agent for the offering.