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HOUSTON BIOTECHNOLOGY INCORPORATED LISTS ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, Aug. 2 /PRNewswire/ -- Houston Biotechnology Incorporated commenced trading on the American Stock Exchange. The company's common stock, trading under the ticker symbol "HBI" opened at 11:30 a.m. at 5 on 1,000 shares. The company's warrants, trading under the ticker symbol "HBI.WS" opened at 1/8 (bid) to 3/8 (ask). The company has selected J. Streicher & Co. as its specialist firm.
 Houston Biotechnology is engaged primarily in the research and development of biopharmaceutical products to prevent or treat certain ophthalmic diseases and disorders. The company's lead product, a preventive for secondary cataract, is in Phase I/II human clinical studies. The company also conducts neurologic research in areas closely related to ophthalmology. Houston Biotechnology recently entered into a development agreement with Genentech, Inc. on its patented growth factor for nerve cells.
 J. Russell Denson, president and chief executive officer of Houston Biotechnology commented, "We chose the AMEX auction market because we believe that trading on a centralized marketplace where specialists pay particular attention to maintaining the most narrow of spreads translates to heightened liquidity and greater trading efficiencies for Houston Biotechnology and its shareholders."
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 8/2/93
 /CONTACT: Melissa Grand, manager - communications of American Stock Exchange, 212-306-1635/
 (HBI HBI.WS)


CO: Houston Biotechnology Incorporated ST: IN: MTC SU:

MP -- NY066 -- 8363 08/02/93 12:19 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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