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ALPHA-BETA TECHNOLOGY FILES REGISTRATION STATEMENT WITH SEC FOR INITIAL PUBLIC OFFERING OF TWO MILLION SHARES OF COMMON STOCK

ALPHA-BETA TECHNOLOGY FILES REGISTRATION STATEMENT WITH SEC FOR INITIAL PUBLIC OFFERING OF TWO MILLION SHARES OF COMMON STOCK
 WORCESTER, Mass., March 27 /PRNewswire/ -- Alpha-Beta Technology, Inc. today announced that it has filed a registration statement with the Securities and Exchange Commission relating to an initial public offering of two million shares of its common stock at $14-16 per share. Alex. Brown & Sons Incorporated and Vector Securities International, Inc. will manage the offering.
 Alpha-Beta Technology, Inc. is developing a novel class of proprietary pharmaceutical products composed of complex carbohydrates. The company's therapeutic products are designed to prevent and treat infection and certain inflammatory diseases and to reduce cholesterol. The company's lead product, Betafectin, is a proprietary carbohydrate immunotherapeutic targeted for the prevention and treatment of infection.
 Alpha-Beta will grant the underwriters an option to purchase an additional 300,000 shares of common stock solely to cover overallotments, if any.
 A copy of the preliminary prospectus may be obtained from the managing underwriters, Alex. Brown & Sons Incorporated, 135 East Baltimore St., Baltimore, Md. 21202 and Vector Securities International, Inc., 1751 Lake Cook Rd., Deerfield, Ill. 60015.
 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- 3/27/92
 /CONTACT: Dr. Spiros Jamas of Alpha-Beta Technology, Inc., 508-798-6900; or Robert Gottlieb of Feinstein Partners, 617-577-8110, for Alpha-Beta/ CO: Alpha-Beta Technology ST: Massachusetts IN: MTC SU:


EG -- NE004 -- 2276 03/27/92 09:50 EST
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Publication:PR Newswire
Date:Mar 27, 1992
Words:320
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