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Dendreon Secures $130 Million Committed Equity Financing Facility

Saturday, October 13, 2007 General News J E 4
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SEATTLE, Oct. 12 Dendreon Corporation(Nasdaq: DNDN) today announced that it has obtained a committed equityfinancing facility under which it may sell up to $130 million of itsregistered common stock to Azimuth Opportunity, Ltd. over an 18-month period.Dendreon is not obligated to utilize any of the $130 million facility andremains free to enter into and consummate other equity and debt financingtransactions.

Dendreon will determine, at its sole discretion, the timing, dollar amountand floor price per share of each draw under this facility, subject to certainconditions. The number and price of shares sold in each draw are determinedby a contractual formula, whereby Dendreon will issue shares to Azimuth whenand if Dendreon elects to use the facility at a small discount to the volumeweighted average price of Dendreon's common stock over a preceding period oftrading days. Reedland Capital Partners will act as placement agent andreceive a fee for its services at the time of any draw under the facility.Any shares sold under this facility will be sold pursuant to a shelfregistration statement declared effective by the Securities and ExchangeCommission on May 25, 2007.

This press release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale of thesesecurities in any state or jurisdiction in which such offer, solicitation orsale would be unlawful prior to registration or qualification under thesecurities laws of any state.

Except for historical information contained herein, this news releasecontains forward-looking statements that are subject to risks anduncertainties. Factors that could affect these forward-looking statementsinclude, but are not limited to, market demand for Dendreon's common stock andevents and developments affecting Dendreon's business and prospects.Information on the factors and risks that could affect Dendreon's business,financial condition and results of operations are contained in Dendreon'spublic disclosure filings with the U.S. Securities and Exchange Commission,which are available at http://www.sec.gov.

SOURCE Dendreon Corporation
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