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TELOR OPHTHALMIC PHARMACEUTICALS, INC. ANNOUNCES PROPOSED INITIAL PUBLIC OFFERING

 WOBURN, Mass., April 13 /PRNewswire/ -- Telor Ophthalmic Pharmaceuticals, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission covering a proposed initial public offering of 2.5 million shares of its common stock. The offering price is expected to be between $12 and $14 per share. The managing underwriter for the offering is Alex. Brown & Sons Incorporated.
 Telor is an ophthalmic pharmaceutical company dedicated to the development and marketing of innovative prescription pharmaceuticals for use in the treatment of age-related eye diseases and in ophthalmic surgery. The company's goal is to introduce into the worldwide ophthalmic pharmaceuticals market a broad portfolio of patent-protected products that are based on novel mechanisms of action and that offer significant improvements over existing therapies.
 The company's lead products in clinical development are TEKRON, a potential product for topical use in controlling chronic elevated intraocular pressure associated with glaucoma and ocular hypertension, and XARANO, a potential product for use during cataract surgery to prevent or reduce transient post-operative increases in intraocular pressure. In addition, feasibility studies are underway to develop a pharmaceutical approach to the treatment of presbyopia, an age-related impairment of the ability of the eye to focus on near objects.
 A copy of the preliminary prospectus may be obtained from Alex. Brown & Sons Incorporated, 135 E. Baltimore St., Baltimore Md. 21202, Attn: Steven R. Schuh.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 4/13/93
 /CONTACT: Steven J. Riggi. Ph.D., president and CEO of Telor Ophthalmic Pharmaceuticals, Inc., 617-937-0393, or Lynne H. Brum of Feinstein Partners Inc., 617-577-8110, for Telor Ophthalmic/


CO: Telor Ophthalmic Pharmaceuticals ST: Massachusetts IN: MTC SU: OFR

TM -- NE010 -- 5228 04/13/93 12:29 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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