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CELL GENESYS ANNOUNCES INITIAL PUBLIC OFFERING

 FOSTER CITY, Calif., Jan. 25 /PRNewswire/ -- Cell Genesys, Inc. announced today the initial public offering of 3.5 million shares of common stock at $11.00 per share. All of the shares offered are being sold by the company. In addition, the company has granted the underwriters an option to purchase up to an additional 500,000 shares to cover over-allotments, if any. The Common Stock will trade on the NASDAQ National Market System under the symbol "CEGE."
 Robertson, Stephens & Co., Invemed Associates Inc. and Oppenheimer & Co. Inc. are the managers of the stock offering.
 Net proceeds to the company from the sale of stock will be used for research and development, capital expenditures related to the expansion of facilities, and for other general corporate purposes.
 Cell Genesys is a leader in the application of gene targeting technology to the development of human therapeutic healthcare products. Gene targeting is a new cellular genetic engineering technology which enables precise and permanent activation, inactivation and replacement of specific genes in living cells. The company is applying gene targeting and related technologies to develop products in three areas: universal cell transplant products, human therapeutic protein products, and human monoclonal antibody products.
 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. All offers and sales will be made through the use of a prospectus.
 A copy of the written prospectus can be obtained from Rebertson, Stephens & Co., One Embarcadero Center, Ste. 3100, San Francisco, CA 94111; Invemed Associates Inc., 375 Park Ave., New York, NY 10152; or Oppenheimer & Co. Inc., Oppenheimer Tower, One World Financial Center, New York, NY 10281.
 -0- 1/25/93
 /CONTACT: Stephen A. Sherwin, president and chief executive officer of Cell Genesys, 415-358-9600/
 (CEGE)


CO: Cell Genesys Inc. ST: California IN: MTC SU: OFR

PK-TM -- SF014 -- 8808 01/25/93 18:29 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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