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CELLEX BIOSCIENCES, INC. REPORTS THE COMPLETION OF SECONDARY OFFERING AND RESULTS OF ITS SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 1993

 MINNEAPOLIS, May 25 /PRNewswire/ -- CELLEX BIOSCIENCES, Inc. (NASDAQ: CLXX) announced today the completion of its secondary securities offering and results of its second quarter and six months ended March 31, 1993.
 On May 20, 1993, the company completed its secondary securities offering of 1.5 million Units at $6 per Unit. Each Unit consists of eight shares of the company's Common Stock and eight redeemable Warrants, each exercisable to purchase one share of Common Stock at an exercise price of $.625. The securities underlying the Units will not be separable or separately transferable prior to Nov. 12, 1993, without consent of the underwriter. The Units and Warrants are quoted on NASDAQ under the symbols CLXXU and CLXXW, respectively. In addition, Whale Securities Co., L.P., the underwriter of the offering, exercised its over-allotment option to purchase 225,000 Units. The company received net proceeds in the approximate amount of $7.3 million and intends to use the proceeds for repayment of certain indebtedness, including indebtedness from the recent Verax product line purchase, for continued research and development and for working capital and general corporate purposes.
 The company reported increased operating revenues of $1,161,664 during the second quarter of fiscal 1993 compared with $1,107,412 for the same three-month period last year. For the quarter, the company reported a net loss of $425,895, or ($0.02) per share compared with a net loss of $383,487, or ($0.02) per share in the 1992 period. For the six-month period, the company recognized increased revenues of $3,424,605 compared to $2,040,453 for the 1992 period.
 The increase in operating revenues for the fiscal 1993 six-month period resulted from a license fee amounting to $1.5 million related to the license of the ACUMOUSE(R) instrument to Tecnomara AG. Tecnomara AG is the company's European distributor and a wholly owned subsidiary of a significant shareholder of the company. During the first six months of fiscal 1993, the company recognized net income of $101,605, less than 1 cent per share, compared with a net loss of $807,775, or ($0.05) per share for last year.
 Richard E. Sakowicz, president and chief operating officer of CELLEX, said: "CELLEX has made tremendous progress toward the implementation of its strategic plan. Although the company experienced a decline in ACUSYST(R) instrument sales during the quarter, this was partially offset by sales related to the company's new product lines, the OPTICELL(TM) and Wheaton Proteus systems. The company also realized an increase in the sales of disposables products for both the three- and six-month periods. The company also recognized increased revenues relating to contract production pursuant to a five-year National Institutes of Health ('NIH') grant and initial sales of HeLa cell nuclear extract marketed to biomedical researchers through a cooperative agreement with Helixys, Inc."
 Sakowicz went on to say: "Subsequent to quarter end, the company purchased certain product line assets and technology from Verax Corporation based in New Hampshire. These cell culture systems utilize a fluidized bed reactor technology. With this addition to our product line, CELLEX now provides its customers the most diversified set of large volume automated, mammalian cell culture systems in the industry. The systems in each series accommodate the requirements of customers ranging from process development to commercial scale production."
 CELLEX BIOSCIENCES, INC.
 Condensed Statements of Operations
 (Unaudited and in thousands, except per-share amounts)
 For the Three Months For the Six Months
 Ended March 31, Ended March 31,
 1993 1992 1993 1992
 Operating revenues $1,162 $1,107 $3,425 $2,040
 Operating income (loss) ($315) ($334) $330 ($705)
 Net income (loss) ($426) ($383) $102 ($808)
 Net loss per common share ($0.02) ($0.02) --- ($0.05)
 Weighted average No. of
 common shares
 outstanding 23,219 19,649 23,215 19,177
 CELLEX BIOSCIENCES, Inc., headquartered in Minneapolis, is dedicated to providing cell processing products and services to meet the needs of human health care and biotechnology markets worldwide.
 -0- 5/25/93
 /CONTACT: Yvonne L. Marschner-Bova, director, Investor Relations, CELLEX BIOSCIENCES, 313-871-7350/
 (CLXX)


CO: CELLEX BIOSCIENCES, Inc. ST: Minnesota IN: MTC SU: ERN

ML -- DE019 -- 2283 05/25/93 15:56 EDT
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Date:May 25, 1993
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