Amarin Announces Successful Completion of Offering of American Depositary Shares

MYSTIC, Conn. and DUBLIN, Jan. 11, 2011 /PRNewswire/ -- Amarin Corporation plc (Nasdaq: AMRN) (the "Company"), a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today announced that it has completed its previously announced underwritten public offering of American Depositary Shares ("ADSs") at a price to the public of $7.60 per ADS.

Due to the exercise in full of the underwriters' over-allotment option, the company sold a total of 13,800,000 ADSs in the offering for an aggregate public offering amount of approximately $104.9 million, and received approximately $100.2 million of net proceeds from the offering, after deducting the underwriting discount and estimated expenses of the offering payable by the company.

Amarin anticipates using the net proceeds from the offering to prepare for the commercialization of AMR101, file a New Drug Application and for working capital and general corporate purposes.

Jefferies & Company, Inc. and Leerink Swann LLC acted as joint book-running managers for the offering and Canaccord Genuity Inc. acted as co-lead manager for the offering.

The securities described above were offered by Amarin pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on November 23, 2010. A final prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement relating to these securities may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at [email protected]. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Amarin

Amarin Corporation plc is a clinical-stage biopharmaceutical company with expertise in lipid science focused on the treatment of cardiovascular disease. The Company's lead product candidate is AMR101, the active ingredient in which is ethyl-EPA (ethyl icosapentate). On November 29, 2010, the Company reported positive, statistically significant top-line results from the MARINE trial, the first of its Phase 3 clinical trials of AMR101. In the MARINE trial, AMR101 was investigated as a treatment for very high triglycerides (>500 mg/dL). AMR101 is presently being investigated in a second Phase 3 clinical trial, the ANCHOR trial, for the treatment of patients on statin therapy with high triglycerides (≥200 and <500mg/dL) with mixed dyslipidemia. The MARINE trial was, and the ANCHOR trial currently is, conducted under Special Protocol Assessment (SPA) agreements with the U.S. Food and Drug Administration (FDA). Amarin also has next-generation lipid candidates under evaluation for preclinical development.

SOURCE Amarin Corporation plc

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