Biotech company Encysive Pharmaceuticals (Nasdaq:ENCY) today announced that it has secured a commitment for up to $75 million in a common stock equity financing from Azimuth Opportunity Ltd. During the 18-month term of the commitment, Encysive may sell at its sole discretion registered shares of its common stock to Azimuth at a predetermined discount to the market price. Encysive will determine the timing and amount of any sales of its stock, subject to certain conditions. Acqua Capital Management is an advisor to Azimuth Opportunity.

Encysive intends to use the net proceeds from any such sales of common stock for general corporate purposes, including for developing and commercializing the Company's products.

The shares are being offered pursuant to an effective registration statement filed with the Securities and Exchange Commission on June 4, 2004. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities. There shall not be any sale of these securities in any state or jurisdiction where such an offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction.

About Encysive Pharmaceuticals

Encysive Pharmaceuticals Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization of novel, synthetic, small molecule compounds to address unmet medical needs. Our research and development programs are predominantly focused on the treatment and prevention of interrelated diseases of the vascular endothelium and exploit our expertise in the area of the intravascular inflammatory process, referred to as the inflammatory cascade, and vascular diseases.