TARRYTOWN, N.Y., May 10 /PRNewswire-FirstCall/ -- Emisphere
Technologies, Inc. (Nasdaq: EMIS) announced today that it has entered into
agreements to sell 4 million shares of common stock at $8.26 per share, the
closing bid price on May 9, 2006, pursuant to Emisphere's previously filed
shelf registration statement, which was declared effective by the
Securities and Exchange Commission on May 2, 2006.
ThinkEquity Partners, LLC acted as lead placement agent, with WR
Hambrecht + Co, and WBB Securities, LLC, acting as co-placement agents.
Proceeds from the offering will be used by Emisphere for general corporate
purposes, including further development of its lead clinical programs. The
transaction is expected to close on May 15, 2006, subject to the
satisfaction of customary closing conditions.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in this offering, nor shall
there be any sale of these securities in any jurisdiction in which such
offer solicitation or sale are unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The offer is being made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. When available, a final prospectus can be obtained from
ThinkEquity Partners, LLC, 31 West 52 Street, 17th floor, New York, NY
10019; telephone, 212-468-7000.
About Emisphere Technologies, Inc.
Emisphere Technologies, Inc. is a biopharmaceutical company pioneering
the oral delivery of otherwise injectable drugs. Emisphere's business
strategy is to develop oral forms of injectable drugs, either alone or with
corporate partners, by applying its proprietary eligen(R) technology to
those drugs or licensing its eligen(R) technology to partners who typically
apply it directly to their marketed drugs. Emisphere's eligen(R) technology
has enabled the oral delivery of proteins, peptides, macromolecules and
charged organics. Emisphere and its partners have advanced oral
formulations or prototypes of salmon calcitonin, heparin, insulin,
parathyroid hormone, human growth hormone and cromolyn sodium into clinical
trials. Emisphere has strategic alliances with world-leading pharmaceutical
companies. For further information, please visit http://www.emisphere.com.
SOURCE Emisphere Technologies, Inc.
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Related links:
http://www.emisphere.com
CONTACT:
Emisphere Technologies, Inc. Investor
Relations, +1-914-785-4742, Info@Emisphere.com; or Media - Dan
Budwick of BMC Communications, +1-212-477-9007 ext.14
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