| October
17, 2003
FOR IMMEDIATE RELEASE
Advancis Pharmaceutical Corporation
Announces Pricing of its Initial Public
Offering
GERMANTOWN, Md., Oct. 17 /PRNewswire-FirstCall/
-- Advancis Pharmaceutical Corporation
AVNC <http://news.moneycentral.msn.com/inc/news/quoteredir.asp?symbol=us:AVNC>
today announced the pricing of its
initial public offering of 6,000,000
shares of its common stock at $10.00
per share, before underwriting discounts
and commissions. The offering is expected
to close October 22, 2003. In addition,
Advancis has granted the underwriters
the right to purchase up to an aggregate
of an additional 900,000 shares of
common stock to cover over-allotments,
if any. The lead manager of the offering
is Lehman Brothers Inc. Pacific Growth
Equities, LLC and Thomas Weisel Partners
LLC are acting as co-managers.
Copies of the final prospectus related
to the offering may be obtained from
Lehman Brothers Inc., c/o ADP Financial
Services, Integrated Distribution
Services, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone
at 631-254-7106.
A registration statement relating
to these securities was declared effective
by the Securities and Exchange Commission
on October 15, 2003. The public offering
is being made by means of a prospectus.
This press release shall not constitute
an offer to sell or the solicitation
of an offer to buy, nor shall there
be any sale of these securities in
any state or jurisdiction in which
such offer, solicitation or sale would
be unlawful prior to registration
or qualification under the securities
laws of any such state or jurisdiction.
Advancis is a pharmaceutical company
focused on developing and commercializing
pulsatile drug products that fulfill
substantial unmet medical needs in
the treatment of infectious disease.
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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