BIOCRYST COMPLETES $8.0 MILLION FINANCING.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--March 25, 1996--BioCryst Pharmaceuticals, Inc. (Nasdaq NM: BCRX) announced today it has completed an $8.0 million private placement of 1,000,000 newly issued shares of restricted common stock, priced at $8.00 per share. BioCryst directly placed the shares with investors and did not pay any commissions. As a result of the transaction, BioCryst has 10,515,909 shares of common stock outstanding. The proceeds will be used to fund research and development programs. To date, the Company has raised a total of $49.4 million through equity financings, including this financing, since its inception in 1986.

"This was a successful offering that almost doubles BioCryst's cash reserves," said John L. Higgins, Vice President, Corporate Development of BioCryst. "The financing strengthens the Company as we conduct a range of clinical trials, including a pivotal Phase III trial for cutaneous T-cell lymphoma, a life-threatening cancer. The additional funding will support our expanding R&D programs and help us to execute our business plan."

Founded in 1986, BioCryst Pharmaceuticals, Inc. designs and develops novel small-molecule pharmaceuticals using structure-based drug design, an approach to drug discovery that integrates advanced biology, biophysics