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T CELL SCIENCES, INC. COMPLETES $18 MILLION PRIVATE PLACEMENT

 CAMBRIDGE, Mass., Dec. 10 /PRNewswire/ -- T Cell Sciences, Inc. (NASDAQ: TCEL), today announced that it has completed the previously announced private placement of 2,834,780 newly issued shares of T Cell Sciences Common Stock at a price of $6.35 per share. The transaction was arranged by Wertheim Schroder & Co., Incorporated.
 The $18 million in gross proceeds raised in this transaction more than doubles T Cell Sciences' cash balance. The net proceeds will be applied to accelerating the development of the company's proprietary second generation complement inhibitors for the treatment of inflammatory diseases and launching its first major immunodiagnostic product, TRAx(TM) CD4. The funds will also be used to advance the company's program to develop T cell antigen receptor (TCAR) therapeutics for the treatment of autoimmune diseases.
 With completion of the private placement, the total number of T Cell Sciences outstanding shares is approximately 17,023,159.
 Located in Cambridge, Mass., T Cell Sciences, Inc. is utilizing proprietary T cell and complement receptor technology to develop pharmaceutical products to treat diseases of inflammation, autoimmunity and cancer. T Cell Diagnostics, Inc., a wholly owned subsidiary of T Cell Sciences, develops, manufactures and markets innovative diagnostic and research products.
 -0- 12/10/93
 /CONTACT: Alan W. Tuck, president and chief executive officer; or Jacqueline Arthur, vice president & chief financial officer of T Cell Sciences, 617-621-1400/
 (TCEL)


CO: T Cell Sciences, Inc. ST: Massachusetts IN: MTC SU:

CM-JL -- NE008 -- 2640 12/10/93 12:40 EST
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Publication:PR Newswire
Date:Dec 10, 1993
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