NeurogesX, Inc. Announces $3.0 Million Private Placement

NeurogesX, Inc.

today announced that on January 31, 2012 it entered into a securities purchase agreement in connection with a private placement to a group of institutional accredited investors and, subject to standard closing conditions, is expected to receive approximately $3.0 million in gross proceeds from the sale of 2,969,685 common shares at $1.01 per share based on the consolidated closing bid price of NGSX common stock on the NASDAQ Global Market on January 31, 2012. The funding was led by a large, global institutional investor and included certain other existing investors. The funding was initiated by an inbound inquiry. The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. NeurogesX has agreed to file a registration statement with the Commission covering the resale of the shares of common stock sold in the private placement.