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Achillion Pharmaceuticals Announces Closing Of Public Offering

NEW HAVEN, Conn., Feb. 27, 2013 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq:ACHN) announced today that the underwriters exercised their option to purchase an additional 1,894,410 shares from Achillion in its previously announced underwritten public offering of common stock at a price to the public of $8.40 per share. The offering of 16,894,410 shares of common stock, including the shares purchased upon exercise of the option to purchase additional shares, closed today. The net proceeds to Achillion from the sale of the shares of common stock, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $133.5 million. Citigroup and Leerink Swann LLC acted as joint book-running managers, and JMP Securities LLC, Piper Jaffray & Co. and Wells Fargo Securities, LLC acted as co-managers for the offering.

The shares were sold pursuant to Achillion's existing shelf registration statement, base prospectus, and a prospectus supplement as filed with the Securities and Exchange Commission (SEC). Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at 1-800-831-9146 or email at batprospectusdept@citi.com or from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, via telephone number (800) 808-7525, Ext. 4814, or email at syndicate@leerink.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor will there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.

About Achillion Pharmaceuticals, Inc.

Achillion is an innovative pharmaceutical company dedicated to bringing important new treatments to patients with infectious disease.

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