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LIDAK ABANDONS PLAN TO FORM SUBSIDIARY

 LIDAK ABANDONS PLAN TO FORM SUBSIDIARY
 LA JOLLA, Calif., Jan. 22 /PRNewswire/ -- LIDAK Pharmaceuticals


(NASDAQ: LDAKU, LDAKA) announced today that it has abandoned its plan to transfer its LIDAKOL technology to a new subsidiary as announced in October 1991. Instead, the development and commercialization of anti- viral and anti-inflammatory therapeutic products based upon LIDAKOL will continue to be pursued within the parent company.
 It was anticipated at the time of the earlier announcement that Dr. David H. Katz would head the new subsidiary and a committee of the board was formed at that time to recruit his replacement as chief executive officer of the parent company. That committee was dissolved concurrently with abandonment of the plan to form the new subsidiary.
 -0- 1/22/92
 /CONTACT: Michael H. Lorber, VP & CFO of LIDAK Pharmaceuticals, 619-558-0364/
 (LDAKU LDAKA) CO: LIDAK Pharmaceuticals ST: California IN: MTC SU:


JL -- LA009 -- 2086 01/22/92 09:02 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:154
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