Regulus Announces $80.9 Million in Total Gross Proceeds from IPO and Other Recent Financial Transactions

  Regulus Announces $80.9 Million in Total Gross Proceeds from IPO and Other
                        Recent Financial Transactions

PR Newswire

LA JOLLA, Calif., Nov. 5, 2012

LA JOLLA, Calif., Nov. 5, 2012 /PRNewswire/ --Regulus Therapeutics Inc.
(NASDAQ: RGLS), a biopharmaceutical company leading the discovery and
development of innovative medicines targeting microRNAs, summarized today its
recent financing activity that the company expects will enable Regulus to
execute its current strategic objectives for the foreseeable future.

In connection with Regulus' Initial Public Offering (IPO), which closed on
October 10, 2012, and other recent financial transactions, Regulus has raised
$80.9 million in gross proceeds, including:

  o$50.9 million from the sale of common stock in the IPO, inclusive of an
    over-allotment option exercise by the underwriters and insider
    participation by Isis Pharmaceuticals, Inc., one of our founding
    companies, and two of our strategic partners, Sanofi and GSK;
  o$25.0 million from the sale of common stock in a private placement to
    AstraZeneca AB, one of Regulus' strategic partners, that closed
    concurrently with the IPO; and
  o$5.0 million from the sale of a convertible note in August 2012 to Biogen
    Idec, one of Regulus' research collaborators, which converted into shares
    of common stock at the completion of the IPO.

"We are excited to have reached this important point in Regulus' life," said
Kleanthis G. Xanthopoulos, Ph.D., President and CEO of Regulus."With the
company well capitalized for the foreseeable future, we are focused on
building a meaningful clinical portfolio and realizing the transformative
potential of microRNA therapeutics."

About Regulus

Regulus Therapeutics Inc. (NASDAQ: RGLS) is a biopharmaceutical company
leading the discovery and development of innovative medicines targeting
microRNAs. Regulus is leveraging a mature therapeutic platform based on
technology that has been developed over 20 years. Regulus works with a broad
network of academic collaborators and leverages the oligonucleotide drug
discovery and development expertise of its founding companies, Alnylam
Pharmaceuticals (NASDAQ: ALNY) and Isis Pharmaceuticals (NASDAQ: ISIS).
Regulus is advancing microRNA therapeutics toward clinical development in
several areas, including oncology, fibrosis, hepatitis C and metabolic
diseases. Regulus has formed strategic alliances with AstraZeneca,
GlaxoSmithKline and Sanofi and a research collaboration with Biogen Idec.

For more information, please visit http://www.regulusrx.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not
historical facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements
associated with Regulus' expectations regarding its financial position and the
future therapeutic and commercial potential of Regulus' business plans,
technologies and intellectual property related to microRNA therapeutics being
discovered and developed by Regulus. Because such statements are subject to
risks and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words such as
"believes," "anticipates," "plans," "expects," "intends," "will," "goal,"
"potential" and similar expressions are intended to identify forward-looking
statements. These forward-looking statements are based upon Regulus' current
expectations and involve assumptions that may never materialize or may prove
to be incorrect. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking statements as a
result of various risks and uncertainties, which include, without limitation,
risks associated with the process of discovering, developing and
commercializing drugs that are safe and effective for use as human
therapeutics, and in the endeavor of building a business around such drugs.
These and other risks concerning Regulus' programs are described in additional
detail in Regulus' SEC filings. All forward-looking statements contained in
this press release speak only as of the date on which they were made. Regulus
undertakes no obligation to update such statements to reflect events that
occur or circumstances that exist after the date on which they were made.

SOURCE Regulus Therapeutics Inc.

Website: http://www.regulusrx.com
Contact: Amy Conrad, Director, Investor Relations and Corporate
Communications, +1-858-202-6300, aconrad@regulusrx.com, or Media: David
Schull, Russo Partners LLC, +1-212-845-4271, david.schull@russopartnersllc.com
 
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