ACCESS Pharmaceuticals announces signing of letter of intent to acquire Tacora.

DALLAS--(BUSINESS WIRE)--April 26, 1996--ACCESS Pharmaceuticals Inc. (OTC BULLETIN BOARD: AXCS) today announced it has executed a letter of intent to acquire Tacora Corp., a privately held company based in Seattle.

This acquisition is intended to significantly enhance the company's role in the area of advanced drug delivery systems. The company anticipates that the closing of the transaction will occur in the next 60-90 days.

Under the terms of the agreement, the purchase price is contingent upon the achievement of certain technology milestones. Stock up to a maximum of $14 million could be payable over a 30 month period. Stock issued in the transaction will be at an escalating value over the period granted for milestone achievements.

Tacora is developing bioresponsive smart polymer systems seeking to mimic the body's own approaches for the regulated delivery of drugs. The development of these systems is designed to provide the release of drug, on demand, in a site-specific fashion, thereby producing the desired therapeutic benefit with a reduced side effect profile. The development focus of Tacora is delivery of oncology and anti-inflammatory agents and oral and parenteral vaccines. Further development of these advanced delivery systems is planned to provide novel delivery approaches for many potent biological products which cannot currently be delivered effectively.

Kerry Gray, president and chief executive officer of ACCESS Pharmaceuticals Inc., stated, "This acquisition will be another step forward to establishing ACCESS as a leader in the field of advanced drug delivery systems. The benefits associated with the combination of these two companies should allow ACCESS to capitalize on a broader portfolio of potential product candidates and enhanced research and development efforts, all of which are in keeping with our growth strategy for the company."

Donald McCarren, president and chief executive officer of Tacora Corp., stated, "This is a consolidation founded on significant complimentary technologies and subsequently holds great promise. The shared resources and technological expertise that will be available through the combination of these two companies should provide opportunities to further improve therapeutic benefits of numerous drugs and biological molecules."

ACCESS Pharmaceuticals is an emerging pharmaceutical company with a platform technology for enhancing the site targeting of intravenous therapeutic drugs, MRI contrast agents and radiopharmaceutical diagnostic and therapeutic agents. The ACCESS technology is based on natural carbohydrate carriers.

CONTACT: ACCESS Pharmaceuticals Inc., Dallas

Kerry P. Gray, 214/905-5100

or

Lippert/Heilshorn & Associates Inc., New York 

Keith Lippert/Kristen Mahan, 212/838-3777