Emergent BioSolutions Announces Pricing of Its Initial Public Offering

Business Wire, Nov 15, 2006

GAITHERSBURG, Md. -- Emergent BioSolutions Inc. (NYSE:EBS) today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a price of $12.50 per share. All of these shares are being sold by the Company. The underwriters also have an option for a period of 30 days to purchase up to 480,000 additional shares of common stock from selling stockholders and up to 270,000 additional shares of common stock from the Company to cover over-allotments, if any. The Company will not receive any proceeds from the sale of shares by the selling stockholders. The Company's common stock has been authorized for listing on the New York Stock Exchange and is expected to trade under the symbol "EBS."

J.P. Morgan Securities Inc. acted as sole book-running manager for the offering with Cowen and Company, LLC as joint lead manager and HSBC Securities (USA) Inc. as co-manager. The offering is expected to close on November 20, 2006, subject to the satisfaction of customary closing conditions.

A copy of the final prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, Floor L2, Brooklyn, NY 11245, Attention: Prospectus Department, or by calling (718) 242-8002.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 14, 2006.

About Emergent BioSolutions Inc.

Emergent BioSolutions Inc. is a biopharmaceutical company focused on the development, manufacture and commercialization of immunobiotics, such as vaccines and immune globulins, which induce or assist the body's immune system to prevent or treat disease. Emergent's biodefense business is focused on developing and commercializing immunobiotics for use against biological agents that are potential weapons of bioterrorism. The Company's commercial business is focused on developing immunobiotics for use against infectious diseases with significant unmet or underserved medical needs.