| August
4, 2003
FOR IMMEDIATE RELEASE
Advancis Pharmaceutical Corporation
Files With SEC For IPO
Germantown, MD – Advancis Pharmaceutical
Corporation announced today that it
filed a registration statement with
the Securities and Exchange Commission
for a proposed initial public offering
of its common stock. The managing
underwriters for the offering are
Lehman Brothers Inc. and Pacific Growth
Equities, LLC. Advancis Pharmaceutical
Corporation is offering all of the
shares covered by the registration
statement.
Advancis Pharmaceutical Corporation
is a pharmaceutical company focused
on developing and commercializing
pulsatile drug products that fulfill
substantial unmet medical needs in
the treatment of infectious disease
A registration statement relating
to these securities has been filed
with the Securities and Exchange Commission
but has not yet become effective.
These securities may not be sold,
nor may offers to buy, be accepted
prior to the time the registration
statement becomes effective.
This press release shall not constitute
an offer to sell or a solicitation
of an offer to buy, nor shall there
be any sale of these securities in
any state in which such offer, solicitation
or sale would be unlawful prior to
registration or qualification under
the securities laws of any such state.
The offering will be made only by
means of a prospectus. Once
available, preliminary prospectuses
may be obtained from Lehman Brothers
Inc., c/o ADP Financial Services,
Integrated Distribution Services,
1155 Long Island Avenue, Edgewood,
New York 11717 or from Pacific Growth
Equities, LLC, 4 Maritime Plaza, San
Francisco, California 94111.
About Axiom Venture Partners
L.P. Axiom Venture Partners
provides capital and strategic assistance
to rapidly growing high technology
companies. Axiom's professionals bring
substantial investing experience and
industry expertise to the venture
capital process. With over $200M in
capital under management, the firm
seeks to consider investment proposals
in two main industry areas. The first
is high technology, which includes
communications, software, Internet
infrastructure, and information technology.
Biotechnology constitutes the second
area. Through its office in Connecticut,
Axiom invests actively throughout
the United States in early or late
stage companies. For more information,
visit www.axiomventures.com
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