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LA JOLLA PHARMACEUTICAL RAISES $14 MILLION

 LA JOLLA PHARMACEUTICAL RAISES $14 MILLION
 SAN DIEGO, Jan. 23 /PRNewswire/ -- La Jolla Pharmaceutical Co. (LJP)


announced today that it has closed its second round of private financing with the sale of $14 million in preferred stock. The offering was sold at a 25 percent higher valuation than the first round, and was oversubscribed.
 The new investor group was led by Domain Associates and includes S.R. One Ltd. (Smith Kline Beecham), Medical Venture Holdings (Oppenheimer), Techno Venture Management and Ventana Growth Funds, as well as all the principal investors from LJP's initial round of financing. To date, the company has raised $26 million in two rounds.
 LJP was incorporated in 1989 to develop products to treat antibody- mediated diseases. The company's proprietary "Tolerance Technology," which has demonstrated the ability in preclinical trials to block or turn off the synthesis of antibodies, is being developed for treatment of Lupus (Systemic Lupus Erythematosus, or SLE), Myasthenia Gravis, Graves' Disease, Recurrent Stroke and Rh Incompatibility.
 Clinical trials for Lupus are expected to begin later this year, pending FDA approval. There is currently no adequate treatment for Lupus, a life-threatening disease caused by antibodies, which afflicts more than 250,000 patients in the United States. The worldwide market is estimated to be more than $500 million.
 "We are gratified with the strong response from the investment community to the potential of our Tolerance Technology," said Joseph Stemler, president and CEO. "This technology offers the potential to treat a range of serious diseases for which currently there are no adequate therapies. We are now well-positioned to move into the critical clinical trial phase with our first major product."
 La Jolla Pharmaceutical Co. was established in 1989 to develop products based on its proprietary antigen-polymer conjugate technology to treat antibody-mediated diseases. The company is privately held and is headquartered in San Diego.
 -0- 1/23/92
 /CONTACT: Joseph Stemler, CEO of La Jolla Pharmaceutical Co., 619-452-6600/ CO: La Jolla Pharmaceutical Company ST: California IN: MTC SU:


JL -- SD001 -- 2636 01/23/92 09:07 EST
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Date:Jan 23, 1992
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