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BIOCHEM AND GLAXO CONCLUDE AGREEMENT ON ANTI-CANCER COMPOUNDS

 BIOCHEM AND GLAXO CONCLUDE AGREEMENT ON ANTI-CANCER COMPOUNDS
 LAVAL, Quebec, Jan. 22 /PRNewswire/ -- IAF BioChem International Inc. (MSE, TSE: BCH; NASDAQ: BCHXF) today announced the formal signing of its agreement with Glaxo Canada Inc., acting for Glaxo Holdings p.l.c., regarding anti-cancer compounds. This development follows an agreement-in-principle announced last Sept. 19.
 The agreement covers a family of anti-cancer compounds discovered by BioChem which show promising in vitro anti-tumor activity, indicating therapeutic potential against a variety of cancers. The initial results have shown that these compounds have therapeutic potential against tumors which are resistant to currently available drugs. The project is considered to be at an advanced stage of laboratory research.
 This collaborative research agreement includes research funding from Glaxo Canada Inc. and provides terms for the potential future development and commercialization of the compounds including royalties and other payments. The Glaxo-BioChem joint venture will have exclusive worldwide product manufacturing rights.
 "The agreement we have just signed is another indication of the close collaboration between our two companies," said Francesco Bellini, president and chief executive officer of BioChem. "It strengthens our 50-50 joint venture with Glaxo in the anti-viral and anti-cancer fields. We expect excellent synergies to result from the joint efforts of our scientific group in Quebec and Glaxo's multinational research resources."
 Glaxo Canada Inc. is a wholly owned subsidiary of Glaxo Holdings p.l.c., an international group of companies which conducts research and develops, manufactures and sells pharmaceutical products in 150 countries throughout the world. Sales were more than US$6.3 billion in the 1991 fiscal year. Glaxo employs 40,000 people in 70 operating companies worldwide.
 IAF BioChem International Inc. is a pharmaceutical company dedicated to the research, development and commercialization of innovative products for the detection, prevention and treatment of human diseases. Its shares are listed on the Montreal and Toronto stock exchanges (BCH) and on the NASDAQ exchange (BCHXF).
 -0- 1/22/92
 /CONTACT: Francesco Bellini, president and CEO of BioChem, 514-681-1744; or Luc Beauregard or Michele Roy of NATIONAL Public Relations, 514-843-7171, for BioChem/
 (BCHXF) CO: IAF BioChem International Inc.; Glaxo Canada Inc. ST: Quebec IN: MTC SU:


GK-OS -- NY034 -- 2193 01/22/92 10:41 EST
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Date:Jan 22, 1992
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