Idera Pharmaceuticals Announces Closing of Public Offering of Common Stock

CAMBRIDGE, Mass. and EXTON, Pa., Feb. 19, 2015 (GLOBE NEWSWIRE) -- Idera Pharmaceuticals, Inc. IDRA ("Idera" or the "Company") today announced the closing of its previously announced underwritten public offering of 23,000,000 shares of common stock at an offering price of $3.75 per share. The shares of common stock in the offering include 3,000,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares at the offering price. The gross proceeds to Idera from this offering total $86.25 million, before underwriting discounts and commissions and offering expenses. Goldman, Sachs & Co. and J.P. Morgan acted as joint bookrunning managers for the offering. Piper Jaffray & Co. acted as lead manager for the offering.

The offering was made pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC") on May 12, 2014 and declared effective by the SEC on May 22, 2014. Copies of the final prospectus relating to the offering may be obtained from the SEC's website at http://www.sec.gov, or from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526 or e-mail at prospectus-ny@ny.email.gs.com; or from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 866-803-9204).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Idera's securities. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Idera Pharmaceuticals, Inc.

Idera Pharmaceuticals is a clinical-stage biopharmaceutical company developing a novel therapeutic approach for the treatment of genetically defined forms of B-cell lymphoma and rare diseases. Idera's proprietary technology involves using a Toll-like receptor (TLR) targeting technology, to design synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. In addition to its TLR programs, Idera is developing gene silencing oligonucleotides (GSOs) that it has created using its proprietary technology to inhibit the production of disease-associated proteins by targeting RNA.