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EXHIBIT 99
FOR IMMEDIATE RELEASE
Contacts:
Alexion Pharmaceuticals, Inc. Noonan/Russo Nexus Communications
Leonard Bell Communications, Inc. Rhonda Chiger (Investor)
President and CEO Ernie Knewitz (Media) (917) 322-2569
(203) 776-1790 (212) 696-4455 Ext. 204
Alexion Pharmaceuticals Announces Sale of Common Stock
New Haven, CT, October 27, 2000 -- Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN)
today announced that, under its recent shelf registration statement
(Registration No. 333-47594 filed October 6, 2000) relating to the possible sale
from time to time of the Company's securities, it has entered into an agreement
to sell 2.3 million shares of common stock to US Bancorp Piper Jaffray Inc.
Subject to normal closing conditions, Alexion will receive proceeds of
approximately $209 million, net of fees and other expenses related to the
transaction.
"These proceeds will provide Alexion with greater capital flexibility in order
to pursue our strategic growth objectives," said Leonard Bell, M.D., President
and Chief Executive Officer of Alexion.
Alexion is engaged in the discovery and development of therapeutic products
aimed at treating patients with a wide array of severe disease states, including
cardiovascular and autoimmune disorders, inflammation and cancer. Alexion's two
lead product candidates are currently in eight clinical development programs.
Additionally, through the creation of its wholly owned subsidiary, Alexion
Antibody Technologies, Inc., Alexion is engaged in discovering and developing a
portfolio of additional antibody therapeutics targeting severe unmet medical
needs. This press release and further information about Alexion Pharmaceuticals,
Inc. can be found on the World Wide Web at: www.AlexionPharm.com.
This news release contains forward-looking statements. Such statements are
subject to certain factors which may cause Alexion's plans to differ or results
to vary from those expected including unexpected pre-clinical or clinical
results, the need for additional research and testing, delays in manufacturing,
access to capital and funding, delays and adverse changes in development of
commercial relationships and a variety of risks set forth from time to time in
Alexion's filings with the Securities and Exchange Commission, including but not
limited to the risks discussed in Alexion's Annual Report on Form 10-K for the
year ended July 31, 2000. Except in special circumstances in which a duty to
update arises when prior disclosure becomes materially misleading in light of
subsequent events, Alexion does not intend to update any of these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.
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