CELLPRO REPORTS RESULTS FOR THIRD FISCAL QUARTER.

SEATTLE--(BUSINESS WIRE)--Jan. 25, 1995--CellPro Inc. (NASDAQ: CPRO) today reported a net loss of $4.8 million for the third fiscal quarter ended Dec. 31, 1994.

This compares with a net loss of $3.4 million for the same three-month period in the prior fiscal year.

The company continues to focus on the introduction of its CEPRATE(R) SC Stem Cell Concentration System into key European markets. CEPRATE SC systems have been placed in approximately 130 hospitals in over 20 countries including the United States. Over 1,000 patients worldwide have been treated in protocols incorporating stem cell selection with the CEPRATE SC System.

The company recorded $1.2 million in product sales and $972,000 in interest income for the quarter ended Dec. 31, 1994. This compares with $397,000 in product sales and $444,000 of interest income during the same three-month period in the prior year. This 213% increase in sales over the prior-year quarter resulted primarily from European sales of the CEPRATE SC System. Interest income increased due to larger average cash reserves available for investment and higher interest rates on investments during the current year's third quarter.

Cost of product sales was $765,000 for the quarter ended Dec. 31, 1994, compared with $328,000 for the quarter ended Dec. 31, 1993. Cost of product sales increased due to higher sales volume during the current year quarter. Research and development expenses increased 61% to $3.9 million for the quarter ended Dec. 31, 1994, from $2.5 million for the quarter ended Dec. 31, 1993. This increase principally reflects the cost of expanded clinical trial programs. Selling, general and administrative expenses totaled $2.3 million during the quarter ended Dec. 31, 1994, compared with $1.4 million in the same quarter of 1993. This increase was primarily due to expanded sales and marketing programs in Europe.

The company is pursuing an extensive clinical trial program in the United States and Europe, including a new Phase III trial that the company began this month in the United States. This new Phase III trial will be conducted on advanced multiple myeloma patients undergoing peripheral blood stem cell transplantation to restore their marrow with hematopoietic (blood-forming) stem cells following myeloablative (marrow-killing) chemotherapy.

The primary efficacy endpoint for the trial will be significant depletion of tumor cells from the resulting transplant. The company is also actively supporting various investigator-sponsored trials for treatment of cancer and genetic disorders. A pre-marketing approval application for use of the CEPRATE SC System for hematopoietic support in cancer-related therapies was submitted to the U.S. Food and Drug Administration (FDA) in December 1993. In December 1994, the FDA advised the company that the application would require amendment to provide additional data before it could be approved.

Located in Bothell, CellPro Inc. is a biotechnology company specializing in the development, manufacturing and marketing of proprietary continuous-flow, cell-selection systems for use in a variety of therapeutic, diagnostic, and research applications.

Financial Summary Follows

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                         CELLPRO INCORPORATED
                 (a Company in the development stage)
                       SELECTED FINANCIAL DATA

Statement of Operations Data:
(unaudited)

                         Three Months Ended      Nine Months Ended
                            December 31,             December 31,
                         1994        1993        1994         1993

Interest income       $972,031     $444,156   $2,980,595    $1,362,852
Product sales        1,244,828      397,350    2,824,922       728,654
                     2,216,859      841,506    5,805,517     2,091,506

Costs and expenses:

Cost of product sales  764,655      328,172    1,681,423       695,342
Research and
 development         3,946,060    2,458,298    9,929,746     7,183,906
Selling, general and
   administrative    2,294,471    1,361,307    6,350,556     3,771,562
Interest                34,430       53,011      117,816       157,757
  Total costs
   and expenses      7,039,616    4,200,788    18,079,541   11,808,567

         Net loss  ($4,822,757) ($3,359,282) ($12,274,024) ($9,717,061)
                    ===========  ==========   ===========    =========

Net loss per share      ($0.37)      ($0.29)       ($0.94)      ($0.83)
                    ===========  ==========    ==========    =========

Weighted average
 number of
 shares outstanding 13,077,677   11,703,453    13,051,762   11,668,815
                   ===========   ==========    ==========   ==========

                                December 31,             March 31,
                                   1994                     1994
Balance Sheet Data:             (unaudited)

Cash, cash equivalents and
   marketable securities       $71,280,720              $95,505,030
Total assets                    94,950,481              110,616,321
Long-term debt, net
 of current portion                523,591                  754,719
Total stockholders' equity      86,904,122               99,376,207

CONTACT: CellPro Inc., Bothell

Lee M. Parker, 206/485-7644