ENTL Entelos Regs

RNS Number:0749E
Entelos Inc.
19 September 2007


For immediate release                                          19 September 2007


                                  ENTELOS, Inc

                          ("Entelos" or "the Company")

                Entelos Raises $2m via Abingworth Share Purchase

Foster City, CA, September 19, 2007 - Entelos, Inc. (LSE: ENTL), a leading life
sciences company that leverages its predictive efficacy and safety platforms and
"virtual patients" to develop drugs and support pharmaceutical R&D, is pleased
to announce that a fund managed by Abingworth Management Limited, one of the
Company's early venture investors through a related fund and currently a major
shareholder through several of its investment funds, has entered into an
agreement to subscribe for 3,783,314 Entelos shares at 26.55 pence per common
share.

Transaction details

Abingworth Bioventures IIa LP has invested $2 million to acquire 3,783,314 new
Entelos shares. The subscription price is based on the 10 days trading average
closing price of 26.55p prior to 18 Sep 2007, the last practicable date prior to
this announcement, and represents a premium of approximately 6.2% to the share
price of 25p on 18 Sep 2007. All of the shares to be issued will be subject to a
lock up agreement which provides that, subject to certain limited exemptions
(including with the prior written consent of Evolution Securities Limited), the
new shares will not be disposed of for 12 months following the closing date. An
application will be made for the new Entelos shares to be admitted to trading on
AIM and the Company expects admission to become effective on 25 September 2007.
Following the subscription, funds managed by Abingworth Management Limited will
hold 9,277,163 Entelos shares representing 13.9% of the enlarged share capital
of Entelos.

"We believe that Entelos' recent acquisition of Iconix Biosciences combines
best-in-class predictive sciences for drug efficacy and safety testing,"
commented Jonathan MacQuitty, Ph.D., a former director of the Company and a
Partner at Abingworth. "Our most important investment criteria are strong
management and a novel technology that offers significant improvements over
current approaches. We are not generally looking for incremental improvements
over existing technologies; but rather, we seek companies with breakthroughs
that will usher in a paradigm shift to advance discovery of new medicines in
major therapeutic areas."

James Karis, President and CEO of Entelos added: "We are pleased that
Abingworth, a major investor in both Entelos and Iconix, has agreed to increase
its holdings in our expanded company. We believe this signals confidence in our
strategy to leverage our efficacy, safety, and biology discoveries into drug
ownership opportunities. The Company will utilise the proceeds of the
subscription to facilitate the Company's growth strategy. "


For further information please contact:

Entelos, Inc.

James Karis, President and CEO               Today on Tel +44 (0) 20 7466 5000
Alan Blazei, CFO                             Thereafter on Tel +1 650 572 5400

Abingworth Management, Inc
Jonathan MacQuitty, PhD                                   Tel: +1 650 926 0600
President and Director

Evolution Securities
Tim Worlledge, Director                               Tel +44 (0) 20 7071 4300
Bobbie Hilliam, Associate Director

Buchanan Communications
Lisa Baderoon                                         Tel +44 (0) 20 7466 5000
Mary-Jane Johnson


Notes for Editors

About Entelos

Entelos, Inc. (www.entelos.com) is a US-based life sciences company applying
next-generation predictive technologies to revolutionize the way medicines are
discovered, developed, and utilized. The Company leverages its proprietary in
silico disease models, "virtual patients", and toxicology reference systems to
develop safer and more effective drugs and support pharmaceutical R&D and
commercialization. In addition to internal drug programs in rheumatoid arthritis
and women's health, Entelos provides customized technology and research services
to global pharmaceutical and health-care companies in cardiovascular diseases,
asthma, obesity, diabetes, hematopoeisis (anemia), cholesterol metabolism, and
skin sensitization. The company is also developing a model in oncology and is
collaborating with the FDA to build a model of drug-induced liver toxicity.
Entelos also offers cost-effective drug development capabilities through its
strategic alliance with India-based Jubilant Biosys.

About Abingworth

Abingworth is a long-established venture capital firm dedicated to the life
sciences sector on both sides of the Atlantic. The company invests across all
stages of development, including early-stage as well as public companies.
Abingworth has funds under management of over $1.25 billion. Abingworth has
provided backing for more than 100 unquoted life science businesses. More than
70% of these have gone public or have been merged into, or acquired, by larger
companies. Founded in 1973, Abingworth has offices in London, Cambridge (UK),
Menlo Park (California) and Boston. Successful investments have included Alnylam
Pharmaceuticals, Aurora Biosciences, Aviron, GelTex Pharmaceuticals, Gilead
Sciences, Healtheon, IDEC Pharmaceuticals, Pharmion, PowderMed and Solexa. For a
full list of Abingworth's portfolio companies please visit the website at
www.abingworth.com.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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