Raptor Pharmaceuticals Closes $10 Million Private Placement



    NOVATO, Calif., June 30 /CNW/ -- Raptor Pharmaceuticals Corp. (OTC
Bulletin Board: RPTP), today announced that it raised U.S.$10 million through
a private placement of 20 million units constituting an aggregate of 20
million shares of the Company's common stock and two-year warrants to purchase
10 million shares of common stock. After deducting placement agent fees, the
Company raised $9.3 million in net proceeds from the private placement. The
Company intends to use the net proceeds to fund programs for its drug product
candidates and execute its corporate strategy.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20071022/NYM074LOGO)
    
    Each unit was priced at $0.50 and consisted of one share of the Company's
common stock and one warrant to purchase one-half share of common stock.
Warrants are exercisable for two years from the date of issuance at $0.75 per
share during the first year and $0.90 per share during the second year.  The
units have not been registered under the Securities Act of 1933, as amended,
or state securities laws and may not be offered or sold in the United States
absent registration with the Securities and Exchange Commission or an
applicable exemption from the registration requirements.
    Zurich-based Limetree Capital acted as the lead placement agent for the
transaction.
    Christopher M. Starr, Ph.D., Raptor's co-founder, director and Chief
Executive Officer, stated, "We are pleased to have closed this private
placement, especially given the challenging financing environment for
development-stage biotech companies. We are excited about using the proceeds
from this transaction for the advancement of our clinical programs, which we
acquired within the past ten months and our internally developed preclinical
programs.  In the next six to nine months, we expect to have three clinical
trials in progress including two trials addressing orphan indications."
    Kim R. Tsuchimoto, Raptor's Chief Financial Officer, stated, "This
funding is critical for the execution of our drug development programs.  We
are grateful to our existing and new investors who support our passionate
efforts in bringing safer and more effective therapeutics to market."
    
    About Raptor Pharmaceuticals Corp.
    
    Raptor Pharmaceuticals Corp. ("Raptor") consists of a preclinical
division and a clinical division, which together form a continuous set of
specialized competencies to develop Raptor's pipeline of drug product
candidates from early stage to clinical stage through to commercialization.  
Raptor's preclinical division bioengineers novel drug candidates and
drug-targeting platforms derived from the human receptor-associated protein
("RAP") and related proteins, while Raptor's clinical division advances
clinical-stage product candidates towards marketing approval and
commercialization. Raptor's initial clinical programs include the treatment of
aldehyde dehydrogenase ("ALDH2") deficiency, nephropathic cystinosis and
non-alcoholic steatohepatitis ("NASH").
    Raptor preclinical programs target cancer, neurodegenerative disorders
and infectious diseases. HepTide(TM) is designed to utilize engineered
RAP-based peptides conjugated to drugs to target delivery to the liver to
potentially treat primary liver cancer and hepatitis. NeuroTrans(TM)
represents engineered RAP peptides created to target receptors in the brain
and are currently undergoing preclinical evaluation at Stanford University for
their ability to enhance the transport of therapeutics across the blood-brain
barrier.
    Raptor's clinical division executes the clinical development of: 1)
Raptor's internally developed product candidates; 2) new chemical entities
in-licensed for mid-to-late stage clinical development; 3) currently approved
drugs with potential in additional indications; and 4) treatments that may be
repurposed or reformulated for greater efficacy or convenience for their
currently approved indications.
    Raptor currently has eight patent applications under review in the U.S.
and abroad, as well as four provisional patent applications in the U.S. In
addition, Raptor has licensed two provisional patent applications from
Washington University and one patent application and one provisional patent
application from UC San Diego.
    
    For additional information, please visit www.raptorpharma.com.
    FORWARD LOOKING STATEMENTS
    
    This document contains forward-looking statements as that term is defined
in the Private Securities Litigation Reform Act of 1995. These statements
relate to future events or our future results of operation or future financial
performance, including, but not limited to the following statements: the
Company's ability to advance its preclinical and clinical programs and be in
three clinical trials in the next six to nine months including two trials
addressing orphan indications; the Company's ability to execute its drug
development programs; the Company's ability to bring safer and more effective
therapeutics to market; and the Company's ability to develop, obtain
regulatory approval and commercialize its clinical and preclinical drug
product candidate programs. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors, which may cause our
actual results to be materially different from these forward-looking
statements. Factors which may significantly change or prevent our forward
looking statements from fruition include that we may be unsuccessful in
developing any products or acquiring products; that our technology may not be
validated as we progress further and our methods may not be accepted by the
scientific community; that we are unable to retain or attract key employees
whose knowledge is essential to the development of our products; that
unforeseen scientific difficulties develop with our process; that our patents
are not sufficient to protect essential aspects of our technology; that
competitors may invent better technology; that our products may not work as
well as hoped or worse, that our products may harm recipients; and that we may
not be able to raise sufficient funds for development or working capital when
we require it. As well, our products may never develop into useful products
and even if they do, they may not be approved for sale to the public. We
caution readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date they were made. Certain of these
risks, uncertainties, and other factors are described in greater detail in our
filings from time to time with the Securities and Exchange Commission (the
"SEC"), which we strongly urge you to read and consider, including our
Registration Statement on Form SB-2, as amended, that was declared effective
on July 10, 2006; our annual report on Form 10-KSB filed with the SEC on
November 14, 2007; and our Form 10-QSB filed with the SEC on April 15, 2008,
all of which are available free of charge on the SEC's web site at
http://www.sec.gov. Subsequent written and oral forward-looking statements
attributable to us or to persons acting on our behalf are expressly qualified
in their entirety by the cautionary statements set forth in our reports filed
with the SEC. We expressly disclaim any intent or obligation to update any
forward-looking statements.

    
    For more information, please contact:
    The Ruth Group
    Sara Ephraim (investors)        Janine McCargo (media)
    (646) 536-7002                  (646) 536-7033
    sephraim@theruthgroup.com       jmccargo@theruthgroup.com
    




For further information:

For further information: Investors, Sara Ephraim, +1-646-536-7002, 
sephraim@theruthgroup.com; Media, Janine McCargo, +1-646-536-7033, 
jmccargo@theruthgroup.com, both for Raptor Pharmaceuticals Corp. Web Site:
http://www.raptorpharma.com/

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RAPTOR PHARMACEUTICAL CORP.

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