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CANTAB PHARMACEUTICALS PLC PROPOSED LISTING ON THE LONDON STOCK EXCHANGE; PATHFINDER PROSPECTUS ISSUED

 CAMBRIDGE, England, Sept. 22 /PRNewswire/ -- Cantab Pharmaceuticals plc (NASDAQ-NMS: CNTBY) today announced that a preliminary or pathfinder prospectus for the company's proposed listing on the London Stock Exchange and offering or ordinary shares has been issued. The proposed offering will be by means of a placing made in the United Kingdom and overseas. Barclays de Zoete Wedd Limited is the issuing house and de Zoete & Bevan Limited is the broker. It is expected that the final prospectus will be published and full details of the placing will be announced on Tuesday, Oct. 19, 1993, and that trading in Cantab's ordinary shares on the London Stock Exchange will commence on Monday, Oct. 25, 1993. The ordinary shares to be offered will not be registered under the Securities Act of 1993 and will not be offered or sold in the United States or to U.S. persons.
 Cantab's American Depositary Shares representing ordinary shares have been quoted on the NASDAQ National Market System under the symbol CNTBY since July 1992 and the directors believe that it is now appropriate to seek a listing on the London Stock Exchange, the company's home market.
 Cantab is engaged in the research and development of biopharmaceuticals which utilize the highly selective properties of the human immune system for the treatment of disease. Cantab's research and development programs are aimed at meeting unsatisfied clinical needs. Cantab and its collaborators are currently pursuing research and development programs in five disease areas: organ transplant rejection; cervical cancer; genital herpes; genital warts; and inflammatory bowel disease. The company's lead product candidate, LM-CD45, which is being developed in collaboration with Baxter Healthcare Corporation, is designed to reduce the incidence of acute rejection episodes following kidney transplantation. LM-CD45 is in Phase II clinical trials in the United Kingdom. A second product candidate, TA-HPV, a potential treatment for invasive cervical cancer, has been supplied for use in a physician-initiated clinical trial in the United Kingdom. The company has established links with a number of U.K. academic centers, including Cambridge and Oxford Universities.
 The placing is expected to raise between 15 and 20 million pounds sterling. These funds, together with existing cash resources, will be used to finance Cantab's existing research and development programs, to further their commercial potential and to develop new research and development programs in the area of therapeutic immunology. Completion of the placing is subject to adequate market demand.
 The contents of this press release, which have been prepared by and are the sole responsibility of Cantab Pharmaceuticals plc, have been approved by Barclays de Zoete Wedd Limited (a member of the Securities and Futures Authority Limited) for the purposes of section 57 of the Financial Services Act 1986.
 Barclays de Zoete Wedd Limited is acting solely for Cantab Pharmaceuticals plc in connection with the proposed flotation and will not be responsible to anyone other than Cantab Pharmaceuticals plc for providing the protections afforded to customers of Barclays de Zoete Wedd Limited nor for providing advice in relation to the proposed flotation.
 -0- 9/22/93
 /CONTACT: Paul Haycock, chief executive officer of Cantab Pharmaceuticals plc, 011-44-71-623-2323, or Ishbel Macpherson of Barclays de Zoete Wedd Limited, 011-44-71-623-2323, Andrew Waterworth of Ludgate Communications, 011-44-71-253-2252, or Anthony J. Russo of Noonan/Russo Communications, 212-696-4455/
 (CNTBY)


CO: Cantab Pharmaceuticals plc ST: IN: MTC SU: OFR

SM-0S -- NY001 -- 4454 09/22/93 02:30 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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