Synageva BioPharma Corp. (“Synageva”) (NASDAQ:GEVA), a clinical stage biopharmaceutical company developing therapeutic products for rare disorders, today announced the closing of a $90 million underwritten public offering of 3,574,266 shares of a common stock, including 466,209 shares of common stock which were issued pursuant to the exercise of the underwriters’ over-allotment option, at a price of $25.18 per share. Synageva received net proceeds, after deducting the underwriting discount and estimated offering expenses, of approximately $84 million from the offering. Morgan Stanley and J.P. Morgan acted as joint book-running managers in the offering, and Cowen and Company, Leerink Swann and Wedbush PacGrow Life Sciences acted as co-managers in the offering. The securities described above were offered by Synageva pursuant to a Form S-3 shelf registration statement (including a base prospectus) previously filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). The final prospectus supplement and accompanying prospectus related to this offering is available for free by visiting EDGAR on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained from the offices of Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department, by calling toll-free (866) 718-1649 or by email at email@example.com, or from the offices of J.P. Morgan Securities LLC via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling toll-free (866) 803-9204. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 any such state or other jurisdiction.