PhaseBio Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, with an initial focus on cardiopulmonary disorders, today announced that it has launched the roadshow for the initial public offering of its common stock. PhaseBio is offering 5,000,000 shares of its common stock at an expected initial public offering price between $12.00 and $14.00 per share. PhaseBio expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the initial public offering price to cover over-allotments. PhaseBio has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “PHAS.”

Citigroup, Cowen and Stifel are acting as joint book-running managers for the offering. Needham & Company, LLC is acting as co-manager for the offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 1-631-274-2806, or fax: 1-631-254-7140.