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Vitae Pharmaceuticals Announces Closing of Initial Public Offering

FORT WASHINGTON, Pa., Sept. 29, 2014 (GLOBE NEWSWIRE) -- Vitae Pharmaceuticals, Inc. (Nasdaq:VTAE), a clinical stage biotechnology company, today announced the closing of its initial public offering of 6,875,000 shares of common stock at an initial public offering price of $8.00 per share. The aggregate net proceeds to Vitae, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $48.4 million. As previously reported, Vitae Pharmaceuticals has granted the underwriters a 30-day option to purchase up to an additional 1,031,250 shares of common stock to cover over-allotments, if any, at the initial public offering price.

Stifel and BMO Capital Markets are acting as joint book-running managers and JMP Securities and Wedbush PacGrow Life Sciences are acting as co-managers for the offering.

The offering is being made only by means of a written prospectus forming part of the effective registration statement. Copies of the prospectus related to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, Telephone: (415) 364-2720, email: syndprospectus@stifel.com; or from BMO Capital Markets Corp., 3 Times Square, 26th floor, New York, NY 10036, Attention: Equity Syndicate Department, Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities 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 such state or jurisdiction.

CONTACT: Investors:
         Vitae Pharmaceuticals, Inc.
         Richard S. Morris, CPA
         Chief Financial Officer
         (215) 461-2000
         rmorris@vitaerx.com

         or

         Westwicke Partners
         John Woolford
         (443) 213-0506
         john.woolford@westwicke.com

         or

         Media:
         6 Degrees PR
         Tony Plohoros
         (908) 940-0135
         tplohoros@6degreespr.com

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Vitae Pharmaceuticals
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Vitae Pharmaceuticals Inc's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.