Chelsea intends to use the net proceeds from the offering to fund its Phase III registration program for its lead product candidate, Northera™ (droxidopa), including the completion of its ongoing Study 301 which is expected to be completed by the third quarter 2010, to fund its Phase II trial of CH-4501 for the treatment of rheumatoid arthritis and for general corporate purposes.

Leerink Swann served as lead placement agent with Needham & Company, LLC, serving as co-placement agent in the offering. The shares were offered pursuant to Chelsea's effective shelf registration statement previously filed with the Securities and Exchange Commission. Additional information and details with respect to the offering are included in a prospectus supplement that Chelsea filed with the Commission. The registration statement and prospectus supplement may be obtained from the Commission's website at www.sec.gov or from Chelsea by contacting Investor Relations at (704) 973-4231. This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The securities may be offered only by means of the prospectus supplement and the related prospectus.

About Venrock

Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues the eight-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. Having invested $2.5 billion in nearly 450 companies resulting in more than 120 IPOs in 41 years, Venrock's investment returns place it among the top tier venture capital firms that have achieved consistently superior performance. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, athenahealth, Centocor, Check Point Software, DoubleClick, Gilead Sciences, Idec Pharmaceuticals, Illumina, Intel, Ironwood, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock's website at www.venrock.com.

About Chelsea Therapeutics

Chelsea Therapeutics is a biopharmaceutical development company that acquires and develops innovative products for the treatment of a variety of human diseases, including droxidopa, an orally active synthetic precursor of norepinephrine initially being developed for the treatment of neurogenic orthostatic hypotension, and CH-4051, a metabolically inert oral antifolate engineered to have potent anti-inflammatory and anti-tumor activity to treat a range of immunological disorders.

CONTACT:  Chelsea Therapeutics
          Nick Riehle, Chief Financial Officer
            704-341-1516 x101
          Investor/Media Relations
          Kathryn McNeil
            718-788-2856