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Biotech / Medical : dsco Discovery Laboratories
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From: tom r. phillips12/14/2005 9:37:11 AM
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(placed 3 million shares for $20 million)

Discovery Labs to Raise $20.0 Million in Registered Direct Offering
Wednesday December 14, 8:55 am ET

WARRINGTON, Pa., Dec. 14, 2005 (PRIMEZONE) -- Discovery Laboratories, Inc. (NasdaqNM:DSCO - News), has obtained commitments to purchase approximately $20.0 million of its common stock in a registered direct offering. Under the terms of the transaction, Discovery Labs will sell approximately 3.0 million shares of its common stock to a select group of institutional investors. The closing of the offering is expected to take place on December 19, 2005, subject to the satisfaction of customary closing conditions. All of the shares of common stock are being offered by Discovery Labs pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. SG Cowen & Co., LLC acted as exclusive placement agent for the transaction.

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