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LA JOLLA PHARMA OFFERS PRIVATE PLACEMENT

October 7, 2005

La Jolla Pharmaceutical Co., a developer of autoimmune disease therapies, said Friday that it expects to raise $66 million through a private placement that will more than double its number of outstanding shares. The company said it will issue 88 million shares of newly issued common stock and warrants to buy 22 million more shares to Essex Woodlands Health Ventures Fund VI, Frazier Healthcare Ventures, Special Situations Funds, Domain Public Equity Partners, Sutter Hill Ventures, and individual investor Alejandro Gonzalez.

Forbes (http://www.forbes.com/business/manufacturing/feeds/ap/2005/10/07/ap2266109.html)