Pharmaxis Closes Share Purchase Plan

SYDNEY, June 29 /PRNewswire-Asia/ -- Pharmaxis (ASX: PXS; Nasdaq: PXSL)
today announced it had raised A$7.2 million from its Share Purchase Plan which
closed on 24 June 2009. Shareholders of the company were given the
opportunity to purchase up to $5,000 worth of shares each at the $2.35 price
paid by institutional investors in the recent placement.
A total of 1,584 shareholders participated in the plan under which the
company will issue approximately 3 million new shares and receive funds of
approximately $7.2 million.
Dr Alan Robertson, Chief Executive Officer of Pharmaxis said, "We are very
encouraged and appreciative of the level of support from our shareholders.
The total proceeds of the placement and share purchase plan of $54 million
puts us in a strong position from which to take our products to the global
markets."
Shares will be issued today, 30 June 2009, and are expected to be listed
on the Australian Securities Exchange on 2 July 2009. Holding statements will
be posted on or about 1 July 2009.
Forward-Looking Statements
The statements contained in this media release that are not purely
historical are forward-looking statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking statements in
this media release include statements regarding our expectations, beliefs,
hopes, goals, intentions, initiatives or strategies, including statements
regarding the potential for Aridol and/or Bronchitol. All forward-looking
statements included in this media release are based upon information available
to us as of the date hereof, and we assume no obligation to update any such
forward-looking statement as a result of new information, future events or
otherwise. We cannot guarantee that any product candidate will receive FDA or
other regulatory approval or that we will seek any such approval. Factors that
could cause or contribute to such differences include, but are not limited to,
factors discussed in the "Risk Factors and Other Uncertainties" section of our
Form 20-F lodged with the U.S. Securities and Exchange Commission.
CONTACT:

Alan Robertson
Chief Executive Officer
Tel: +61-2-9454-7200
Email: alan.robertson@pharmaxis.com.au

RELEASED THROUGH:

Australia:
Felicity Moffatt
Tel: +61-418-677-701
Email: felicity.moffatt@pharmaxis.com.au

United States:
Brandon Lewis
Trout Group
Tel: +1-646-378-2915
Email: blewis@troutgroup.com

SOURCE Pharmaxis Ltd

Alan Robertson, +61-2-9454-7200, alan.robertson@pharmaxis.com.au; Felicity
Moffatt, +61-418-677-701, felicity.moffatt@pharmaxis.com.au, both of
Pharmaxis; Brandon Lewis of Trout Group for Pharmaxis, +1-646-378-2915,
blewis@troutgroup.com