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Vital Therapies Announces Closing of Public Offering of Common Stock, Including Full Exercise of Underwriter's Option to Purchase Additional Shares

SAN DIEGO, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Vital Therapies, Inc. (Nasdaq:VTL), a biotherapeutic company developing the ELAD® System, a cell-based therapy targeting the treatment of liver failure, today announced the closing of its previously announced underwritten public offering of 6,272,727 shares of its common stock at a price to the public of $5.50 per share, including 818,181 shares sold pursuant to the underwriter's full exercise of its option to purchase additional shares. The aggregate gross proceeds from this offering were approximately $34.5 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Vital Therapies.

BofA Merrill Lynch acted as sole book-running manager for the offering.

The securities described above were offered pursuant to a shelf registration statement (File No. 333-204097) that was filed with the Securities and Exchange Commission on May 12, 2015, and that was declared effective on May 26, 2015. The final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, Email: dg.prospectus_requests@baml.com. An electronic copy of the final prospectus supplement and accompanying prospectus relating to the offering are available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Vital Therapies, and shall not constitute an offer, solicitation or sale of any security 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.

About Vital Therapies, Inc.

Vital Therapies, Inc. is a biotherapeutic Company developing a cell-based therapy targeting the treatment of liver failure. The Company's ELAD System is an extracorporeal human allogeneic cellular liver therapy. Vital Therapies, Inc. is based in San Diego, California. Vital Therapies® and ELAD® are trademarks of Vital Therapies, Inc.

CONTACT: Al Kildani Vice President, Investor Relations and Business Development Vital Therapies, Inc. 858-673-6840 akildani@vitaltherapies.com

Source:Vital Therapies, Inc.