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ALPHA 1 ANNOUNCES COMPLETION OF STOCK SALE

 BETHESDA, Md., Dec. 7 /PRNewswire/ -- Alpha 1 Biomedicals, Inc. (NASDAQ: ALBM) today announced that it has raised slightly in excess of $7.3 million in new capital through the completion of a sale of 440,000 shares of common stock to a European investor at a price of $16.66 per share. The investor also received an option to purchase up to 440,000 additional shares between April 1994 and June 1995 at a price which would be at a slight discount to the average market price over a trading period immediately prior to the purchase.
 According to Vincent F. Simmon, president of CEO of Alpha 1 Biomedicals, "the company anticipates using the proceeds from this sale of securities to fund operations and capital investments, including construction costs relating to our new manufacturing facility in Sunnyvale, Calif., and the funding of additional clinical trials."
 Alpha 1 Biomedicals, Inc. is engaged in the development of pharmaceutical products for the treatment of chronic viral diseases, immune disorders and cancer. The company's lead drug, Thymosin alpha 1, is currently in U.S. clinical trials for the treatment of chronic hepatitis B, chronic hepatitis C, and AIDS.
 -0- 12/7/93
 /CONTACT: Vincent F. Simmon, Ph.D., president and CEO of Alpha Biomedicals, 301-564-4400, or Anita Monteith-Dixon of Long Ridge Associates, 203-790-0647/
 (ALBM)


CO: Alpha 1 Biomedicals, Inc. ST: Maryland IN: MTC SU:

MP-WB -- NY086 -- 1441 12/07/93 16:47 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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