Infinity Announces Closing of Secondary Offering of Common Stock and Exercise of Over-Allotment Option

  Infinity Announces Closing of Secondary Offering of Common Stock and
  Exercise of Over-Allotment Option

Business Wire

CAMBRIDGE, Mass. -- April 16, 2013

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) today announced the closing of
an underwritten public offering of its common stock, at a price of $40.00 per
share, by existing shareholders Beacon Company and Rosebay Medical Company
L.P., including shares that were transferred to Beacon and Rosebay by Purdue
Pharma L.P., an associated company of Beacon and Rosebay. The total number of
shares of common stock sold was 11,416,565, composed of 10,000,000 shares of
common stock initially sold and an additional 1,416,565 shares of common stock
sold pursuant to the exercise of the underwriters’ over-allotment option.
5,708,282 shares of common stock were sold by Beacon and 5,708,283 shares of
common stock were sold by Rosebay. Immediately following the closing, Beacon,
Rosebay and Purdue will not hold any shares of Infinity. Infinity did not sell
any shares or receive any proceeds from the offering, and the total number of
shares of its outstanding common stock has not changed as a result of the
offering.

The joint book-running managers for the offering were Morgan Stanley & Co. LLC
and J.P. Morgan Securities LLC.

The securities described above were offered pursuant to an effective shelf
registration statement that was previously filed with the Securities and
Exchange Commission (SEC). The final prospectus supplement and accompanying
prospectus related to this offering may be obtained free of charge by visiting
the Securities and Exchange Commission's website at www.sec.gov, or by
contacting:

Morgan Stanley & Co. LLC              J.P. Morgan Securities LLC
Attn: Prospectus Department             c/o Broadridge Financial Solutions
180 Varick Street, 2nd Floor            1155 Long Island Avenue
New York, NY 10014                      Edgewood, NY 11717
Phone: 866-718-1649                     Phone: 866-803-9204
Email: prospectus@morganstanley.com

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities in this offering, nor shall 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
jurisdiction.

About Infinity Pharmaceuticals, Inc.

Infinity is an innovative drug discovery and development company seeking to
discover, develop and deliver to patients best-in-class medicines for diseases
with significant unmet need. Infinity combines proven scientific expertise
with a passion for developing novel small molecule drugs that target emerging
disease pathways. Infinity’s programs focused on the inhibition of
phosphoinositide-3-kinase and heat shock protein 90 are evidence of its
innovative approach to drug discovery and development.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on current
expectations, forecasts and assumptions that involve risks and uncertainties.
Forward-looking statements include statements regarding Infinity’s
expectations, beliefs, intentions or strategies regarding the future, and can
be identified by forward-looking words such as “anticipate,” “believe,”
“could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “will,”
and “would” or similar words. Important factors could cause actual results to
differ materially from these forward-looking statements, including market
conditions as well as risks and uncertainties associated with Infinity’s
business, including those risks and uncertainties described in “Risk Factors”
in the final prospectus supplement, and in “Risk Factors” and elsewhere in
Infinity’s annual report on Form 10-K for the year ended December 31, 2012,
each of which has been filed with the SEC, as well as in other filings that
Infinity periodically makes with the SEC. Any forward-looking statements
contained in this press release speak only as of the date hereof, and Infinity
anticipates that subsequent events and developments will cause its views to
change. While Infinity may elect to update these forward-looking statements at
some point in the future, Infinity expressly disclaims any obligation to
update any forward-looking statements, whether as a result of new information,
future events or otherwise.

Contact:

Infinity Pharmaceuticals, Inc.
Jaren Irene Madden, 617-453-1336
Jaren.Madden@infi.com
http://www.infi.com
 
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