Trovagene Announces Closing of Private Placement of $3.76 Million from the Sale of Restricted Common Stock and Warrants

  Trovagene Announces Closing of Private Placement of $3.76 Million from the
                 Sale of Restricted Common Stock and Warrants

PR Newswire

SAN DIEGO, Nov. 21, 2012

SAN DIEGO, Nov. 21, 2012 /PRNewswire/ -- Trovagene, Inc. (NASDAQ: TROV), a
transrenal molecular diagnostic company, today announced the closing of a
private placement consisting of 940,000 units at a purchase price of $4.00 per
unit, with each unit consisting of one share of unregistered common stock and
one warrant to purchase one share of common stock. The gross proceeds to
Trovagene from this offering are approximately $3.76 million. The warrants are
exercisable for five years from the date of closing at an exercise price of
$5.32 per share.

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Trovagene intends to use the net proceeds from this private placement offering
to fund its research and development activities, and for working capital and
other general corporate purposes.

"This private placement is well timed to provide Trovagene with sufficient
capital to  facilitate theavailability of transrenal oncogene mutation
testing to clinicians through our diagnostic laboratory," stated Antonius
Schuh, Ph.D., chief executive officer of Trovagene. "The Company now has cash
in excess of $10 million, which we expect will be sufficient to fund our
operations well into 2014."

This announcement is neither an offer to sell nor a solicitation of an offer
to buy any securities of the Company. The securities offered and sold in the
private placement have not been registered under the Securities Act of 1933,
as amended, or any state securities laws, and may not be offered or sold in
the United States absent registration, or an applicable exemption from
registration under the Securities Act and applicable state securities laws.

About Trovagene, Inc.

Headquartered in San Diego, California, Trovagene is developing its patented
technology for the detection of transrenal DNA and RNA, short nucleic acid
fragments, originating from normal and diseased cell death that cross the
kidney barrier and can be detected in urine. Trovagene has a strong patent
position as it relates to transrenal molecular testing. It has U.S. and
European patent applications and issued patents that cover testing for HPV and
other infectious diseases, cancer, transplantation, prenatal and genetic
testing. In addition, it owns worldwide rights to nucleophosmin-1 (NPM1), an
informative biomarker for acute myeloid leukemia (AML) and mutations in the
SF3B1 gene, which have been shown to be associated with chemotherapy response
in chronic lymphocytic leukemia (CLL) patients.

Certain statements in this press release are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward-looking words such as
"anticipate," "believe," "forecast," "estimated" and "intend," among others.
These forward-looking statements are based on Trovagene's current expectations
and actual results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not limited to,
substantial competition; our ability to continue as a going concern; our need
for additional financing; uncertainties of patent protection and litigation;
uncertainties of government or third party payer reimbursement; limited sales
and marketing efforts and dependence upon third parties; and risks related to
failure to obtain FDA clearances or approvals and noncompliance with FDA
regulations. As with any medical diagnostic tests under development, there are
significant risks in the development, regulatory approval and
commercialization of new products. There are no guarantees that future
clinical trials discussed in this press release will be completed or
successful or that any product will receive regulatory approval for any
indication or prove to be commercially successful. Trovagene does not
undertake an obligation to update or revise any forward-looking statement.
Investors should read the risk factors set forth in Trovagene's Form 10-K for
the year ended December 31, 2011 and other periodic reports filed with the
Securities and Exchange Commission.

Contact
Trovagene, Inc.
Financial                                 Investor Relations
Stephen Zaniboni                          Amy Caterina
Chief Financial Officer  Investor Relations
Trovagene, Inc.                           Trovagene, Inc.
858-952-7594                              858-952-7593
szaniboni@trovagene.com                  acaterina@trovagene.com

SOURCE Trovagene, Inc.
 
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