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Soligenix Announces Pricing of Public Offering of Common Stock and Warrants
Date:6/21/2013

PRINCETON, N.J., June 21, 2013 /PRNewswire/ -- Soligenix, Inc. (OTCQB: SNGX) ("Soligenix" or the "Company"), a clinical stage biopharmaceutical company focused on developing products to treat inflammatory diseases and biodefense countermeasures where there remains an unmet medical need, announced today the pricing of a registered public offering of shares of common stock and warrants to purchase common stock.

In connection with the public offering, the Company has entered into definitive agreements with institutional investors and certain members of the Company's management and Board of Directors to sell approximately $7.0 million of the Company's securities, consisting of an aggregate of approximately 6.6 million shares of common stock at a price per share of $1.05 and 5-year warrants to purchase up to approximately 5.0 million shares of common stock with an exercise price of $1.65 per share.

Institutional investors in the offering include, among others, an affiliated fund of Third Security, LLC ("Third Security"), a venture capital firm founded by R.J. Kirk.  In connection with Third Security's investment in the Company, the Company intends to appoint a Third Security designee to the Board of Soligenix.

The Company plans to use the net proceeds from the offering to further develop its product candidates and for general working capital purposes.

Soligenix's two lead product candidates include a proprietary formulation of oral BDP (beclomethasone 17,21-dipropionate) for pediatric Crohn's disease (SGX203), which is currently in a Phase 1 clinical trial, and a novel innate defense regulator (IDR) technology for the treatment of oral Mucositis (SGX942) for which the Company plans to initiate a Phase 2 clinical trial in the second half of 2013.

Maxim Group LLC served as placement agent for the offering.

The securities described above were offered
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SOURCE Soligenix, Inc.
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Related medicine technology :

1. FDA Grants Soligenix "Fast Track" Designation for SGX942 for the Treatment of Oral Mucositis in Patients with Head and Neck Cancer
2. Soligenix Initiates Phase 1 Clinical Study with SGX203 for the Treatment of Pediatric Crohns Disease
3. Soligenix Reports First Quarter 2013 Financial Results and Highlights Recent Accomplishments
4. Soligenix and Intrexon Pursue Melioidosis Therapy Through Worldwide Exclusive Collaboration
5. Soligenix to Present at World Vaccine Congress & Expo
6. Soligenix Receives IND Clearance from FDA to Initiate Clinical Program to Evaluate SGX942 for the Treatment of Oral Mucositis
7. Soligenix to Present at 15th Annual BIO CEO & Investor Conference
8. Soligenix Announces Formation of Oral Mucositis Medical Advisory Board
9. FDA Grants Soligenix Fast Track Designation for OrbeShield(TM) for the Reduction of Mortality Associated with Gastrointestinal Acute Radiation Syndrome (GI ARS)
10. Soligenix Reports Third Quarter 2012 Financial Results and Highlights Recent Accomplishments
11. FDA Grants Soligenix Fast Track Designation for SGX203 for the Treatment of Pediatric Crohns Disease
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