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CYTOGEN AND CYTORAD ANNOUNCE UNIT OFFERING

CYTOGEN AND CYTORAD ANNOUNCE UNIT OFFERING
    PRINCETON, N.J., Feb. 14 /PRNewswire/ -- Cytogen Corporation (NASDAQ: CYTO) and Cytorad Incorporated (NASDAQ: CYTDZ), announced a public offering of 3.5 million units at an offering price of $10 per unit.
    Each unit consists of one share of the callable common stock of Cytorad and one warrant to purchase one share of the common stock of Cytogen at $24.15 per share.  The offering is managed by Merrill Lynch & Co. and Lehman Brothers.
    The units will trade on NASDAQ National Market System under the symbol "CYTDZ."  The common stock of Cytorad, all of which is callable, and the warrants comprising the units will trade only as units through Jan. 31, 1994.
    Cytorad, a newly formed company, will receive all the proceeds of the offering and engage in the research and development of monoclonal antibody-based delivery systems for the diagnosis and treatment of prostate and bladder cancers utilizing Cytogen Corporation's proprietary and patented technology.
    Cytogen is a biopharmaceutical company engaged in the development of proprietary systems utilizing monoclonal antibodies for the targeted delivery of diagnostic and therapeutic substances in human health care applications.  Cytogen uses its patented and proprietary antibody "linker" technology to develop specific cancer diagnostic imaging and cancer therapeutic products, as well as certain other products.
    /delval/
    -0-                      2/14/92
    CONTACT: Laura M. Hahn of Cytogen, 609-987-8221
    (CYTO CYTDZ)
CO:    CYTOGEN CORPORATION; CYTORAD INCORPORATED
IN:    MTC
SU:    OFR
ST:           NEW JERSEY (NJ)


-- PH004 -- 9075 02/14/92
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Publication:PR Newswire
Date:Feb 14, 1992
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