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ALPHA-BETA TECHNOLOGY, INC. COMPLETES $20 MILLION PRIVATE PLACEMENT

 WORCESTER, Mass., July 8 /PRNewswire/ -- Alpha-Beta Technology, Inc. (NASDAQ: ABTI) today announced that it has closed on the sale of 1,000,000 newly issued shares of Alpha-Beta common stock, at a price of $20 per share, to several institutional investors. As previously announced, the purchase agreements for the shares were signed on June 3. The transaction was arranged by Vector Securities International, Inc.
 The net proceeds from the offering will be used primarily to advance the clinical trials of Betafectin(tm) for the prevention and treatment of infection, to expand facilities and to establish additional commercial capabilities. The funds will also finance continued research and product development in other areas, including the Cholestran(tm) program to treat elevated cholesterol levels.
 With completion of the private placement, the total number of Alpha- Beta outstanding shares is 10,190,904.
 Alpha-Beta Technology, Inc. is developing patentable carbohydrate- based products for the health care industry through the application of carbohydrate engineering. The company's major products in development include Betafectin for the treatment and prevention of infection; Cholestran for the treatment and prevention of cardiovascular disease; and Fibercel(tm), a fat substitute. Alpha-Beta's headquarters, laboratory and pilot production facilities are located in Worcester, Mass.
 -0- 7/8/93
 /CONTACT: Spiros Jamas, Sc.D., president and CEO, Alpha-Beta Technology, Inc., 508-798-6900; Robert Gottlieb, senior vice president, Feinstein Partners Inc., 617-577-8110, for Alpha-Beta Technology, Inc./
 (ABTI)


CO: Alpha-Beta Technology, Inc. ST: Massachusetts IN: MTC SU:

CM-DJ -- NE008 -- 9420 07/08/93 10:22 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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