Idera Pharmaceuticals Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants

  Idera Pharmaceuticals Announces Closing of Public Offering of Common Stock
  and Pre-Funded Warrants

Business Wire

CAMBRIDGE, Mass. -- September 30, 2013

Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) (“Idera” or, the “Company”) today
announced the closing of its previously announced underwritten public offering
of 13,727,251 shares of common stock, and pre-funded warrants to purchase up
to an aggregate of 4,175,975 shares of common stock. The gross proceeds to
Idera from this offering are expected to be approximately $27.7 million,
before deducting the underwriting discounts and commissions and other
estimated offering expenses payable by Idera and excluding the proceeds, if
any, from the exercise of the pre-funded warrants.

Piper Jaffray & Co. acted as sole manager for the offering.

The offering was made pursuant to a shelf registration statement previously
filed with and declared effective by the Securities and Exchange Commission
(the “SEC”) on September 18, 2013. Copies of the final prospectus relating to
the offering may be obtained from the Securities and Exchange Commission
website at http://www.sec.gov, or from the underwriters at Piper Jaffray &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis,
MN 55402, via telephone at 800-747-3924 or email at prospectus@pjc.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of Idera’s securities. No offer, solicitation or sale
will be made in any jurisdiction in which such offer, solicitation or sale is
unlawful.

About Idera Pharmaceuticals, Inc.

Idera's technology platform involves creating novel synthetic RNA- and
DNA-based compounds to modulate immune responses. Idera has applied this
platform to develop proprietary Toll-like receptor (TLR) antagonists as
immunomodulatory drug candidates. Toll-like receptor antagonists block the
overactivation of immune factors which can cause a range of pathological
effects. Idera is conducting clinical development of TLR antagonists in
autoimmune and inflammatory diseases, and preclinical development of their use
in certain genetically defined forms of B-cell lymphoma. More information on
Idera is available at iderapharma.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included or incorporated in this press release,
including statements regarding the Company’s strategy, future operations,
collaborations, intellectual property, cash resources, financial position,
future revenues, projected costs, prospects, plans, and objectives of
management, are forward-looking statements. The words “believes,”
“anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,”
“should,” “potential,” “likely,” “projects,” “continue,” “will,” and “would”
and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words.
Idera cannot guarantee that it will actually achieve the plans, intentions or
expectations disclosed in its forward-looking statements and you should not
place undue reliance on the Company’s forward-looking statements. There are a
number of important factors that could cause Idera’s actual results to differ
materially from those indicated or implied by its forward-looking statements.
Factors that may cause such a difference include: whether Idera’s cash
resources will be sufficient to fund its continuing operations and the further
development of the Company’s programs; whether results obtained in early
research, preclinical studies and clinical trials will be indicative of the
results that will be generated in future clinical studies; whether products
based on Idera’s technology will advance into or through the clinical trial
process on a timely basis or at all and receive approval from the United
States Food and Drug Administration or equivalent foreign regulatory agencies;
whether, if the Company’s products receive approval, they will be successfully
distributed and marketed; whether Idera will be able to enter into
collaborations that will advance the development of its compounds for
autoimmune disease indications; and such other important factors as are set
forth under the caption “Risk Factors” in the Company’s Quarterly Report on
Form 10-Q and the Current Report on Form 8-K that was filed on September 24,
2013. Although Idera may elect to do so at some point in the future, the
Company does not assume any obligation to update any forward-looking
statements and it disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise.

Contact:

Idera Pharmaceuticals, Inc.
Lou Arcudi, 617-679-5517
larcudi@iderapharma.com
 
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