2009-11-11 15:40:13 -

PolyMedix Inc. (OTC BB: PYMX, polymedix.com : ), an emerging biotechnology company developing acute care therapeutic drug products for infectious diseases and cardiovascular disorders, announced today the pricing of a registered public offering of up to 21,000,000 units consisting of shares and warrants for $1.00 per unit, or a total of up to $21 million in gross proceeds.

The units consist of one share of PolyMedix common stock and a five year warrant to purchase 0.30 shares of PolyMedix common stock at $1.25 per share. The units will not be certificated and the shares and warrants will be immediately separable and transferable upon issuance. Merriman Curhan Ford (Nasdaq.

MERR) acted as lead placement agent in this offering with Boenning & Scattergood, Inc. and Noble Financial Capital Markets serving as co-placement agents. Fordham Financial Management, Inc. acted as a selected dealer in the offering.

The net proceeds of the offering, which is expected to close on November 16, 2009 subject to certain customary closing conditions, will be used primarily to continue the clinical development of two drug candidates, PMX-30063 antibiotic and PMX-60056 heparin antagonist, into Phase 2 human clinical trials in 2010.

A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on November 10, 2009, and the public offering is being made by means of a prospectus. A copy of the prospectus for the unit offering may be obtained by contacting Merriman Curhan Ford & Co., 135 East 57th Street, 24th Floor, New York, New York 10022, Attention: Warren Dunnavant. The prospectus will also be available on the Securities and Exchange Commission website at www.sec.gov : .

This press 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 the registration or qualification under the laws of any such state.



About PolyMedix, Inc.

PolyMedix is a publicly traded emerging biotechnology company focused on addressing large market opportunities relating to the development of novel drugs and biomaterials for the treatment of infectious diseases and acute cardiovascular disorders. Specifically, PolyMedix is dedicated to research in product areas involving fast and inexpensive trials, straightforward endpoints and early clinical proof of concept.

PolyMedix’s compounds are based on biomimetics: non-peptide small molecule drug candidates that mimic the activity of proteins. The Company’s antibiotic compounds, including PMX-30063 – small molecule mimetics of human host-defense proteins – have a mechanism of action distinct from those of current antibiotic drugs, a mechanism that is intended to make bacterial resistance unlikely to develop. The Company’s goal is to develop these as rapidly acting antibiotics for serious systemic and local infections. The Company plans to continue the development of polymeric formulations as antimicrobial biomaterials, which can be used as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces. The Company’s heptagonist compounds, including PMX-60056, reverse the activity of both heparin and Low Molecular Weight Heparins, with the goal of developing an antagonist drug for LMWHs, and that is safer and easier to use than currently approved therapy for heparin. For more information, please visit PolyMedix at www.polymedix.com : .

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause PolyMedix’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. PolyMedix has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal”, “potential,” “may,” ”suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements, PolyMedix’s compounds may not enter or successfully complete clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these factors is included in PolyMedix’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. PolyMedix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

PolyMedix, Inc.Lona Cornish, 484-598-2340 lcornish@polymedix.com : mailto:lcornish@polymedix.com orInvestors:Erika
Moran emoran@investorrelationsgroup.com : mailto:emoran@investorrelationsgroup.com orMedia:The

Investor Relations GroupLaura Colontrelle, 212-825-3210 lcolontrelle@investorrelationsgroup.com : mailto:lcolontrelle@investorrelationsgroup.com