Zalicus Secures New $25 Million Funding Commitment from Lincoln Park Capital

  Zalicus Secures New $25 Million Funding Commitment from Lincoln Park Capital

Business Wire

CAMBRIDGE, Mass. -- May 08, 2013

Zalicus Inc. (Nasdaq Capital Market: ZLCS), a biopharmaceutical company that
discovers and develops novel treatments for patients suffering from pain,
today announced that it has entered into a stock purchase agreement with
Lincoln Park Capital Fund, LLC (“Lincoln Park”) an institutional investor.
Under the terms of the agreement, Zalicus has the right to sell up to
$25,000,000 in shares of its common stock to Lincoln Park subject to certain
limitations and conditions set forth in the purchase agreement.

Upon executing the agreement, Lincoln Park made an initial purchase of $2.0
million in shares of Zalicus common stock at a purchase price of $0.605 per
share. Zalicus has the right, at its sole discretion, over a period of two
years to sell up to an additional $23.0 million in shares of its common stock
to Lincoln Park under the terms set forth in the agreement. Zalicus will
control the timing and amount of any common stock sales to Lincoln Park. The
agreement may be terminated by Zalicus at any time, at its sole discretion,
without any cost or penalty. Proceeds from any sales of stock will be used for
general corporate purposes, including ongoing research and development, and
may also be used to repay outstanding indebtedness or to acquire or invest in
complementary businesses, products and technologies. A more detailed
description of the purchase agreement is set forth in Zalicus’s current report
on Form 8-K recently filed with the SEC.

“We remain committed to the advancement of our promising ion channel research
and development programs, including our clinical candidates Z160, Z944 and our
Nav 1.7 discovery program. This arrangement with Lincoln Park is an attractive
financing alternative for Zalicus at this time because it provides us with
flexible access to capital on an as-needed basis as we work to obtain the
results from the clinical trials of our lead product candidates Z160 and Z944
later this year,” commented Mark H.N. Corrigan, MD, President and CEO of

About Zalicus

Zalicus Inc. (Nasdaq Global Market: ZLCS) is a biopharmaceutical company that
discovers and develops novel treatments for patients suffering from pain.
Zalicus has a portfolio of proprietary clinical-stage product candidates
targeting pain such as Z160 and Z944 and has entered into multiple
revenue-generating collaborations with large pharmaceutical companies relating
to other products, product candidates and drug discovery technologies. Zalicus
applies its expertise in the discovery and development of selective ion
channel modulators and its combination high throughput screening capabilities
to discover innovative therapeutics for itself and its collaborators in the
areas of pain, inflammation, oncology and infectious disease. To learn more
about Zalicus, please visit

About Lincoln Park Capital Fund, LLC ("LPC")

LPC is an institutional investor headquartered in Chicago, Illinois. LPC's
experienced professionals manage a portfolio of investments in public and
private entities. These investments are in a wide range of companies and
industries emphasizing life sciences, specialty financing, energy and
technology. LPC's investments range from multiyear financial commitments to
fund growth to special situation financings to long-term strategic capital
offering companies certainty, flexibility and consistency. For more

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 concerning Zalicus, its
product candidates, their potential, and its plans for clinical development,
its financial condition and financial plans, and other business plans. These
forward-looking statements about future expectations, plans, objectives and
prospects of Zalicus and its product candidates may be identified by words
like "believe," "expect," "may," "will," "should," "seek," “plan,” “project”
or “could” and similar expressions and involve significant risks,
uncertainties and assumptions, including risks related to the risks related to
the formulation and clinical development of its product candidates Z160 and
Z944, the unproven nature of the Zalicus ion channel drug discovery
technology, Zalicus’s ability to obtain additional financing or funding for
its research and development, and those other risks that can be found in the
"Risk Factors" section of Zalicus' annual report on Form 10-K on file with the
Securities and Exchange Commission and the other reports that Zalicus
periodically files with the Securities and Exchange Commission. Actual results
may differ materially from those Zalicus contemplated by these forward-looking
statements. These forward-looking statements reflect management’s current
views and Zalicus does not undertake to update any of these forward-looking
statements to reflect a change in its views or events or circumstances that
occur after the date of this release except as required by law.

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

(c) 2013 Zalicus Inc. All rights reserved.


Zalicus Inc.
Justin Renz, 617-301-7575
Gina Nugent, 617-460-3579
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