GENTIUM RAISES $10.9 MILLION IN PRIVATE OFFERING; FUNDING TO SUPPORT NEW TRIALS

Gentium S.p.A. (AMEX:GNT) (the "Company") announced today that it has entered into definitive agreements for a $10.9 million private placement of 1.551,125 million of its American Depository Shares (ADSs) at a price of $7.05 per ADS. Subject to shareholder approval, investors in the financing will also receive warrants to purchase 620,452 ADSs at an exercise price of $9.69 per share. The closing is subject to certain conditions precedent to the closing. The purchase price is subject to reduction of 20% if the Company's shareholders do not approve the issuance of the warrants within 180 days. Funds managed by Great Point Partners, LLC were the lead investors in the transaction.

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