Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced that the Company has entered into a debt for equity exchange agreement with its chairman and CEO Michael T. Flavin, Ph.D. Under the terms of the agreement, the Company's $2 million promissory note with Dr. Flavin will be exchanged for 47,619,047 shares of the Company's common stock. The price of $0.042 per share used in the exchange was the same price per share used in the Company's recently completed public equity offering. As a result of the exchange, the promissory note will be cancelled and retired.

About Advanced Life Sciences

Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases. The Company's lead candidate, Restanza, is a novel once-a-day oral antibiotic in late-stage development for the treatment of respiratory tract infections including community acquired bacterial pneumonia (CABP) and biodefense pathogens including anthrax, plague and tularemia. In June 2010, the Company submitted a Special Protocol Assessment (SPA) with the FDA for the proposed Phase III clinical program of Restanza in the treatment of patients with CABP. The Company has been engaged in the SPA process with the FDA over the last year to establish the clinical trial design needed to gain approval in CABP. As filed, the updated SPA incorporates written and oral comments from the FDA's Division of Anti-Infective and Ophthalmology Products. Based on the FDA's review cycle, the Company expects a reply to its submission by mid-August of this year.

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