ExonHit announces secondary stock sale, issue of warrants to shareholders

New York, June 7 - ExonHit Therapeutics SA announced existing shareholders will sell 2 million shares at €6.50 each in a secondary sale and that it will be allocating subscription warrants to existing shareholders.

Stockholders will receive one warrant for each share they own. Combined, 10 warrants will give the right to buy a new share at a price of €7.80.

The warrants will be allocated on June 26 and will be listed and exercisable from June 27 to Jan. 19, 2007.

The secondary sale has a greenshoe for a further 0.5 million shares. The public will be able to subscribe through June 15 while a private placement for institutional investors will run through June 16.

ExonHit said the secondary sale will allow venture capital funds the opportunity to exit their investment while increasing the free float of the company's shares.

Sellers are FCPR Banexi Venture 3, Béarnaise de Participation, Banexi SCR, FCPR Natio-Vie Développement 3, Dresdner Kleinwort Wasserstein Ltd, Danske Bank, FCPI AGF Innovation, FCPI AGF Innovation 2, Sofinnova Capital II and FCPR Innovation 1996.

The subscription warrants will enable shareholders to participate in financing the company's new projects.

Euroland Finance is financial adviser and manager for the sale.

ExonHit, a drug and diagnostic discovery company, has headquarters in Paris.

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