Synageva BioPharma Announces Closing of Public Offering and Exercise of Option to Purchase Additional Shares

  Synageva BioPharma Announces Closing of Public Offering and Exercise of
  Option to Purchase Additional Shares

Business Wire

LEXINGTON, Mass. -- January 9, 2013

Synageva BioPharma Corp. (“Synageva”) (NASDAQ:GEVA), a clinical stage
biopharmaceutical company developing therapeutic products for rare disorders,
today announced the closing of a $118 million underwritten public offering of
2,472,500 shares of common stock, including 322,500 shares of common stock
which were issued pursuant to the exercise of the underwriters’ option to
purchase additional shares, at a price of $47.53 per share.

Morgan Stanley and J.P. Morgan acted as joint book-running managers in the
offering, and Cowen and Company, Canaccord Genuity Inc., and Leerink Swann LLC
are acting as co-managers in the offering.

The securities described above were offered by Synageva pursuant to a Form S-3
shelf registration statement (including a base prospectus) previously filed
with the Securities and Exchange Commission (“SEC”). The final prospectus
supplement and accompanying prospectus related to this offering is available
for free by visiting EDGAR on the SEC’s website located at Copies
of the final prospectus supplement and accompanying prospectus may also be
obtained from the offices of Morgan Stanley & Co. LLC, 180 Varick Street, 2nd
Floor, New York, New York 10014, Attn: Prospectus Department, by calling
toll-free (866) 718-1649 or by email at, or from
the offices of J.P. Morgan Securities LLC via Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by calling toll-free (866)

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other

About Synageva’s Lead Program

Sebelipase alfa (formerly referred to as SBC-102) is a recombinant form of the
human LAL enzyme being developed as an enzyme replacement therapy for
Lysosomal Acid Lipase (LAL) Deficiency, a lysosomal storage disorder (LSD).
Sebelipase alfa is currently being evaluated in global clinical trials and has
been granted orphan designations by the U.S. Food and Drug Administration
(“FDA”), the European Medicines Agency, and the Japanese Ministry of Health,
Labour and Welfare. Additionally, sebelipase alfa received “fast track”
designation by the FDA.

About LAL Deficiency

Lysosomal Acid Lipase Deficiency is a rare, autosomal recessive lysosomal
storage disorder (LSD) that is caused by a marked decrease in LAL enzyme
activity. Late onset LAL Deficiency, sometimes called Cholesteryl Ester
Storage Disease (CESD), affects both children and adults. In these patients,
the buildup of fatty material in the liver, spleen and blood vessel walls
leads to complications resulting in significant morbidity and mortality. Early
onset LAL Deficiency, sometimes called Wolman Disease, affects infants in the
first year of life and is characterized by growth failure, malabsorption,
steatorrhea and hepatomegaly and is rapidly fatal, usually within the first
year of life.

About Synageva BioPharma Corp.

Synageva is a clinical stage biopharmaceutical company focused on the
discovery, development, and commercialization of therapeutic products for
patients with life-threatening rare diseases and unmet medical need. Synageva
has several protein therapeutics in its pipeline. The company has assembled a
team with a proven record of bringing orphan therapies to patients.

Further information regarding Synageva BioPharma Corp. is available at

Forward-Looking Statements

This news release and oral statements made from time to time by Synageva
representatives in respect of the same subject matter may contain
“forward-looking statements” under the provisions of the Private Securities
Litigation Reform Act of 1995. Such statements can be identified by
introductory words such as “expects,” “plans,” “intends,” “believes,” “will,”
“estimates,” “forecasts,” “projects,” or words of similar meaning and by the
fact that they do not relate strictly to historical or current facts. Many
factors may cause actual results to differ materially from forward-looking
statements, including inaccurate assumptions and a broad variety of risks and
uncertainties, some of which are known, including those identified under the
heading “Risk Factors” in the Company’s prospectus supplement filed with the
Securities and Exchange Commission (the “SEC”) on January3, 2013, and other
filings Synageva periodically makes with the SEC and others of which are not.
Synageva cannot be sure when or if it will be permitted by regulatory agencies
to undertake additional clinical trials or to commence any particular phase of
clinical trials or how quickly patient enrollment in clinical trials will
occur. In addition, early clinical results are not necessarily predictive of
results that may be achieved from subsequent clinical trials. Because of this,
statements regarding the expected timing of clinical trials or ultimate
regulatory approval cannot be regarded as actual predictions of when Synageva
will obtain regulatory approval for any phase of clinical trials or when it
will obtain ultimate regulatory approval by a particular regulatory agency or
when any of its drug product candidates might be commercialized. Synageva’s
future financial results may differ from those currently anticipated due to a
number of factors, including unanticipated costs in its research and
development programs, fluctuations in royalty revenues and unplanned costs
associated with maintaining and enforcing patents and other patent-related
costs. No forward-looking statement is a guarantee of future results or
events, and investors should avoid placing undue reliance on such statements.
Synageva undertakes no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.

“Dedicated to Rare Diseases®” is a registered trademark and “Synageva
BioPharma™” is a trademark of Synageva BioPharma Corp.


Matthew Osborne, 781-357-9947
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