Anadys Pharmaceuticals, Inc. Files Registration Statement for Initial Public Offering.

Business Editors/Health/Medical Writers

BIOWIRE2K

SAN DIEGO--(BUSINESS WIRE)--Nov. 17, 2003

Anadys Pharmaceuticals, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering of its common stock. All the shares are to be sold by the company. The underwriters for the offering are Lehman Brothers Inc., SG Cowen Securities Corporation, U.S. Bancorp Piper Jaffray Inc., Legg Mason Wood Walker, Incorporated, and Needham & Company, Inc. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from Lehman Brothers Inc. at c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717.

Anadys Pharmaceuticals, Inc. is a biopharmaceutical company committed to advancing patient care by discovering, developing and commercializing novel and powerful small molecule anti-infective medicines for the treatment of hepatitis C virus and bacterial infections.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these 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.