CEREXA, INC. ANNOUNCES CORPORATE LAUNCH AND $50 MILLION INITIAL FINANCING

Cerexa, Inc. today announced the formal launch of operations following the successful spin out from Peninsula Pharmaceuticals, Inc. The company also announced the closing of a $50 million round of initial financing led by top-tier healthcare investors. Cerexa, a biopharmaceutical company focused on developing, acquiring and commercializing hospital-based anti-infective therapies for the treatment of patients with life-threatening infections, was formed by the management team that executed the sale of Peninsula Pharmaceuticals to Ortho-McNeil Pharmaceutical, Inc., a subsidiary of Johnson & Johnson.

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