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CAMBRIDGE BIOTECH CORPORATION TO BUILD MANUFACTURING FACILITY IN MASSACHUSETTS

 WORCESTER and SHREWSBURY, Mass., Nov. 19 ~PRNewswire~ -- Cambridge Biotech Corporation (NASDAQ-NMS: CBCX) and the Worcester Foundation for Experimental Biology, an independent biomedical research institute based in Shrewsbury, Mass., today announced an agreement to develop and build a $28 million, 95,000 square foot manufacturing facility for Cambridge Biotech's (CBC) Diagnostics Division at Foundation Park in Shrewsbury.
 The new CBC site will become the headquarters and the U.S. manufacturing facility for CBC's Diagnostics Division, which develops and manufactures rapid, screening and confirmatory in vitro diagnostics for infectious diseases. The facility will be built by Foundation Park Associates, a joint venture of the Worcester Foundation for Experimental Biology and JMB~Urban Development Company. Occupancy is planned for mid-1995. Financial terms were not disclosed.
 Additionally, CBC will retain its present 75,000 square foot site in the Massachusetts Biotechnology Research Park in Worcester for its corporate headquarters and for its Biopharmaceutical Division.
 Patrick J. Leonard, president and CEO of CBC commented, "We are pleased to announce our expansion plans to Foundation Park. The state- facilitated financial terms offered in connection with the geographic proximity to our current headquarters were the determining factors in our decision to expand to Shrewsbury. The local expansion also helps us retain our current employee base and draw upon the skill base in Central Massachusetts."
 Thoru Pederson, president and scientific director of the Worcester Foundation for Experimental Biology, said, "We are delighted to have Cambridge Biotech's Diagnostics Division as a tenant of Foundation Park. This is an important and exciting step for the Worcester Foundation and for the enterprise of biotechnology in the greater Worcester area."
 "Cambridge Biotech's announcement is terrific news for Massachusetts, especially Worcester County, where the new facility will create at least 150 long-term, well-paying jobs," said Governor William F. Weld. "Biotech manufacturing is a key element of the state's economic future, and Cambridge Biotech's decision to sink a shaft here is a promising development that we hope to duplicate many times over with like companies and industry sectors."
 Cambridge Biotech Corporation is a leading diagnostics and vaccine company involved in infectious diseases. The company is developing vaccines, adjuvants and diagnostics for humans and animals.
 The Worcester Foundation for Experimental Biology is one of the largest independent nonprofit biomedical research institutes in the United States. Devoted to research in the biological and medical sciences, its mission is to improve the quality of life by eliminating major disease through medical research.
 -0- 11~19~92
 ~CONTACT: Gary E. Long, vice president-operations of Cambridge Biotech Corporation, 508-797-5777~
 (CBCX)


CO: Cambridge Biotech ST: Massachusetts IN: MTC SU:

CH -- NE003 -- 2749 11~19~92 10:00 EST
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Date:Nov 19, 1992
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