PhaseRx Announces Pricing of Initial Public Offering

May 17, 2016
SEATTLE, WA – PhaseRx, Inc. (NASDAQ:PZRX), a biotechnology company focused on developing mRNA therapeutics to treat orphan liver diseases, today announced the pricing of its initial public offering of 3,700,000 shares of common stock at an initial public offering price of $5.00 per share for an aggregate offering of $18.5 million, before underwriting discounts and commissions. In addition, PhaseRx has granted the underwriters a 30-day option to purchase up to an additional 555,000 shares of common stock at the initial public offering price to cover over-allotments, if any.

The shares of PhaseRx stock are expected to begin trading on The NASDAQ Capital Market on May 18, 2016 under the ticker symbol “PZRX.” The offering is expected to close on May 23, 2016, subject to the satisfaction of customary closing conditions.

Laidlaw & Company (UK) Ltd. and Roth Capital Partners are acting as joint book-running managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 17, 2016. The offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from the offices of Laidlaw & Company (UK) Ltd., Attention: Syndicate Department, 546 Fifth Avenue, New York, NY 10036, by telephone at (212) 953-4900 or by email at syndicate@laidlawltd.com or from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, Attn: Equity Capital Markets, by phone at (800) 678-9147 or by email at rothecm@roth.com.
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 such state or jurisdiction.

ABOUT PHASERX

PhaseRx is a preclinical biopharmaceutical company dedicated to developing products for the treatment of inherited enzyme deficiencies in the liver using intracellular enzyme replacement therapy (i-ERT). The Company’s i-ERT approach is enabled by its proprietary Hybrid mRNA TechnologyTM platform. PhaseRx is headquartered in Seattle, Wash. For more information, visit http://www.phaserx.com.

CONTACTS:
Media Contact
Julie Rathbun
Rathbun Communications
julie@rathbuncomm.com
206.769.9219

Investor Contact:
Robert H. Uhl
Westwicke Partners, LLC
Managing Director
robert.uhl@westwicke.com
(858) 356-5932