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Arpida successfully completes initial public offering

Muenchenstein / Basel, Switzerland, 4th May 2005. Arpida Ltd., a Swiss anti-infectives company, today announced that it has successfully completed its Initial Public Offering (IPO) in connection with its listing on the SWX Swiss Exchange. The shares being placed in the IPO are being issued at CHF18.0, giving the Company a market capitalisation of approximately CHF294.7 million (c. €191.0 million*) immediately after the IPO. Shares will be trading on the SWX Swiss Exchange for the first time today under the symbol ARPN.

Arpida focuses on the discovery and development of novel antibiotic drugs to address the growing problem of bacterial resistance. The world-wide antibacterials market is estimated at US $26 billion. The Company’s lead product candidate, injectable iclaprim has recently entered a global Phase III programme and is being developed for treatment of severe hospital infections arising from infected burns, ulcers and surgical wounds; infections that often include multidrug-resistant bacteria, such as MRSA.

Details of the Offering:
** The offering comprised an aggregate of 5.4 million shares, all of which are newly issued registered shares being issued by Arpida, corresponding to gross proceeds for the Company of approximately CHF97.2 million (c. €63.0 million*) before expenses.

** The issue price is CHF18.0 per registered share. The ordinary share capital consists of 16,371,959 shares corresponding to a market capitalisation of the Company at the offering price of approximately CHF294.7 million (c. €191.0 million*). The nominal value of the issued shares is CHF0.20 per registered share.

** The IPO attracted a good geographic spread of institutional investor interest from Switzerland, the UK and a number of other European countries, and the US.

** The Company’s newly issued registered shares will commence trading today, 4th May 2005, on the SWX Swiss Exchange Main Market Segment under the ticker symbol ARPN.

** In connection with the offering, the lead manager has been granted an option (greenshoe) by the Company to subscribe for up to an additional 810,000 new registered shares at the offering price to cover over-allotments, if any, or to cover short positions. This over-allotment option will be exercisable for a period of 30 days after the first trading day of the ordinary registered shares on the SWX Swiss Exchange.

** Deutsche Bank acted as Global Co-ordinator, Sole Bookrunner and Sole Lead Manager, Julius Baer, Lombard Odier Darier Hentsch, and swissfirst as Co-Lead Managers.

Commenting on today’s news, Arpida’s President and CEO, Dr Khalid Islam, said, “We are delighted to have successfully completed our IPO. I view this positive outcome as a reflection of our strong story and investors’ confidence in the continued growth of Arpida based on our ambition of solving the growing problem of bacterial resistance. The funds raised will allow us to progress our lead antibiotic product candidate injectable iclaprim through the Phase III clinical programme, as well as continuing the development of our portfolio of new anti-infectives against the growing antibiotics crisis.”

* Converting rate of 1 EUR = CHF 1.5432

About Arpida Ltd.
Arpida, a biopharmaceutical company based near Basel, is focused on the discovery and development of novel antibiotic drugs that seek to overcome the growing problem of bacterial resistance. Arpida uses an integrated multidisciplinary platform including genomics-assisted selection of novel antibacterial targets to develop its portfolio of potential drug candidates.

Arpida’s leading product candidate is injectable iclaprim, a broad-spectrum antibiotic that targets severe infections requiring hospital treatment, including those caused by MRSA (methicillin-resistant Staphylococcus aureus). In March 2005, Arpida received clearance from the FDA to conduct Phase III clinical trials for injectable iclaprim in the US as part of a global Phase III<

Publisher Contact Information:

Arpida Ltd.
+41 (0)61 417 96 60

Company profile of Arpida Ltd. (acquired by Evolva)
Past press releases of Arpida Ltd. (acquired by Evolva).


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