Dendreon Announces Closing of Common Stock Offering

Wed May 13, 2009 11:08am EDT

* Reuters is not responsible for the content in this press release.

SEATTLE, May 13 /PRNewswire-FirstCall/ -- Dendreon Corporation (Nasdaq: DNDN)
announced today the closing of its previously reported underwritten public
offering of 10,700,000 shares of its common stock, which shares were offered
for sale to the public at $19.20 per share.  On May 8, 2009, Deutsche Bank
Securities Inc., acting as sole manager of the offering, exercised in full its
over-allotment option to purchase an additional 1,279,166 shares of common
stock at the public offering price of $19.20 per share.  The exercise of the
option increased the size of the offering to an aggregate of 11,979,166 shares
of common stock.

Dendreon received net proceeds from the offering of approximately $221
million, after deducting underwriting commissions and estimated offering
expenses.  Dendreon plans to use the net proceeds of the offering to develop
manufacturing facilities, a distribution network, an information technology
platform and other infrastructure, to hire sales and marketing, manufacturing,
quality and other personnel in preparation for the licensure by the FDA and
commercialization of PROVENGE(R) (sipuleucel-T), and for general corporate
purposes, including working capital.

Copies of the prospectus supplement relating to the offering may be obtained
by contacting: Deutsche Bank Securities Inc., Prospectus Department,
Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey
07311-3988, telephone: 1-800-503-4611.

Shelf registration statements relating to the sale of the securities were
filed with the Securities and Exchange Commission and were effective on August
29, 2008 and May 7, 2009.  This press release shall not constitute an offer to
sell or the solicitation of an offer to buy 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 or jurisdiction.

About Dendreon

Dendreon Corporation is a biotechnology company whose mission is to target
cancer and transform lives through the discovery, development and
commercialization of novel therapeutics.  The Company applies its expertise in
antigen identification, engineering and cell processing to produce active
cellular immunotherapy product candidates designed to stimulate an immune
response.  Dendreon is also developing an orally-available small molecule that
targets TRPM8 that could be applicable to multiple types of cancer as well as
benign prostatic hyperplasia.  The Company has its headquarters in Seattle,
Washington and is traded on the Nasdaq Global Market under the symbol DNDN. 
For more information about the Company and its programs, visit
www.dendreon.com.

This news release contains forward-looking statements that are subject to
risks and uncertainties.  These statements include Dendreon's anticipated use
of proceeds.  Factors that could affect these forward-looking statements
include, but are not limited to, developments affecting Dendreon's business
and prospects, including the progress on the commercialization efforts for
PROVENGE and requisite receipt of FDA licensure for marketing and the risk
that additional capital could be needed in the future for the potential
commercialization of PROVENGE.  Information on the factors and risks that
could affect Dendreon's business, financial condition and results of
operations are contained in Dendreon's public disclosure filings with the U.S.
Securities and Exchange Commission and the prospectus supplement relating to
the offering, which are available at www.sec.gov.  Dendreon cautions investors
not to place undue reliance on the forward-looking statements contained in
this press release.  All forward-looking statements are based on information
currently available to Dendreon on the date hereof, and Dendreon undertakes no
obligation to revise or update these forward-looking statements to reflect
events or circumstances after the date of this presentation, except as
required by law.



SOURCE  Dendreon Corporation

Jennifer Cook Williams, Investor Relations of Dendreon Corporation,
+1-206-829-1500
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