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Zeltia S.A.

Zeltia Raises EUR 65 Million Through Institutional Placing

Madrid (ots/PRNewswire)

Zeltia S.A.(ZEL SM; ZEL.MC), the Spanish
biotechnology company, today announces that it has raised Eur 65
million of new funds through a private placement of 10.75 million new
ordinary shares with qualified institutional investors at a price of
Eur 6.05 per share. This transaction is one of the four largest
executed in European biotech in the last four years.
The funds raised will be used to further the continued research,
development and commercialisation of cancer products being developed
by PharmaMar, Zeltia's biopharmaceutical subsidiary. HSBC acted as
sole bookrunner for the transaction.
Commenting on the announcement, José Maria Fernández - Sousa,
Chairman of Zeltia, said:
"PharmaMar has a number of products in its pipeline which have the
potential to realize substantial value for shareholders in the near
future and these funds will give us the necessary resources to secure
that value. We were delighted to see the fundraising supported by a
broad range of 30 new, international institutional investors and we
welcome them to the company and thank them for their support."
The new shares should be admitted to listing on the Spanish Stock
Exchanges today and trading will commence on the New Market trading
segment of the Automated Quotation. Following the offering, Zeltia
will have a total of 211,476,660 ordinary shares outstanding.
The Company has also granted to HSBC an option, exercisable in
whole or in part up to and including 12 July 2005 to subscribe up to
750,000 additional new ordinary shares of Zeltia at the offer price.
About PharmaMar
PharmaMar is a biopharmaceutical company pioneer in the discovery
and development of novel anticancer drugs derived from marine
organisms. PharmaMar's clinical portfolio currently includes five
compounds: Yondelis in Phase II/III trials for solid tumours
(co-developed with Johnson & Johnson Pharmaceutical Research &
Development), designated Orphan Drug for STS and ovarian cancer by
the European Commission (E.C.) and the FDA. Yondelis is being
developed as a single agent and in combination therapy. Aplidin, in
Phase II for solid and haematological tumours, designated Orphan Drug
for acute lymphoblastic leukaemia and for multiple myeloma by the FDA
and the E.C. Kahalalide F in Phase II for solid tumour and severe
psoriasis. ES-285 and Zalypsis in Phase I trials for solid tumours.
About Zeltia
Zeltia S.A. is the pioneer biotechnology company in Spain with a
market capitalization of around 1.2 billion Euros. The group is
comprised of the following subsidiaries: PharmaMar, founded in 1986,
a biopharmaceutical company devoted to the discovery and development
of novel anticancer drugs derived from marine organisms; Neuropharma
devoted to the discovery and development of novel drugs against
Alzheimer and other degenerative diseases of the central nervous
system; Genomica which produces and sells DNA diagnostic tools; and
Zelnova and Xylazel, two very profitable companies that build on
Zeltia's heritage in the chemicals business.
Enquiries:
    Isabel Lozano
    CEO
    PHARMAMAR,S.A.
    C/ Reyes, 1.Colmenar Viejo
    Madrid
    Telephone +34-91-846-60-00
    Catherine Moukheibir
    Head of Capital Market Strategy
    ZELTIA, S.A.
    José Abascal, 2
    Madrid
    Telephone +34-91-444-45-00
    Ma Luisa de Francia
    CFO
    ZELTIA, S.A.
    José Abascal, 2
    Madrid
    Telephone +34-91-444-45-00

Contact:

Enquiries: Isabel Lozano, CEO, PHARMAMAR,S.A., C/ Reyes, 1.Colmenar
Viejo, Madrid, Telephone +34-91-846-60-00; Catherine Moukheibir, Head
of Capital Market Strategy, ZELTIA, S.A., José Abascal, 2, Madrid,
Telephone +34-91-444-45-00; Ma Luisa de Francia, CFO, ZELTIA, S.A.,
José Abascal, 2, Madrid, Telephone +34-91-444-45-00