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CISTRON SEEKS TO RAISE $4 MILLION THROUGH PRIVATE PLACEMENT

 CISTRON SEEKS TO RAISE $4 MILLION THROUGH PRIVATE PLACEMENT
 PINE BROOK, N.J., June 25 /PRNewswire/ -- Cistron Biotechnology, Inc., today announced that it has revised the terms and increased to $4 million from $2 million the size of a private placement for which Spencer Trask Securities, Inc., is acting as placement agent.
 A total of 80 units at $50,000 per unit will be offered to accredited investors only, each unit to consist of 180,000 shares of Cistron common stock and 60,000 redeemable Class F stock purchase warrants. Each warrant will entitle the holder to purchase one share of Cistron common stock at 50 cents per share.
 It is anticipated that the offering will be completed on or before Sept. 30, 1992.
 Cistron's primary product area is immune system regulators, known as lymphokines. The company manufactures and sells lymphokine assay kits to pharmaceutical companies, the government and academic institutions in the United States, Europe and the Far East for cancer, arthritis and other autoimmune disease research.
 -0- 6/25/92
 /CONTACT: Harold Smith of Hal Smith Associates, 201-305-0244, for Cistron/ CO: Cistron Biotechnology, Inc. ST: New Jersey IN: MTC SU: OFR


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Publication:PR Newswire
Date:Jun 25, 1992
Words:202
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