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CELLEX BIOSCIENCES HOLDS ANNUAL MEETING OF SHAREHOLDERS; UPDATES INVESTMENT COMMUNITY ON RECENT DEVELOPMENTS

 MINNEAPOLIS, Aug. 24 /PRNewswire/ -- Cellex Biosciences, Inc. (NASDAQ: CLXX) announced today it held its annual meeting of shareholders on Aug. 19, 1993. Attendees were updated on recent events at the company as well as the fiscal 1992 and third-quarter 1993 results.
 Richard E. Sakowicz, president and chief operating officer of Cellex Biosciences, Inc., commented: "Fiscal 1992 was a year of change for the company. We made excellent progress toward implementing our strategic plan in 1992, which is to establish Cellex Biosciences as the premier bioprocessing supply company in the industry." Sakowicz emphasized, "Cellex Biosciences is the only company to offer the bioprocessing marketplace four different cell culture technologies, each having specialized benefits for the growth of various cell types." Sakowicz continued, "As biotech companies progress through the clinical trial approval process, the demand for our systems and disposables products will grow. It is this biotech industry trend from a focus on research and development toward production and commercialization that we believe will fuel growth in our sales and profits."
 During the formal portion of the meeting a board of six directors was elected to serve until the next annual meeting and the proposal to amend the company's Articles of Incorporation to increase its authorized common stock was ratified.
 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- 8/24/93
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations of Cellex Biosciences, 313-871-7350/
 (CLXX)


CO: Cellex Biosciences, Inc. ST: Minnesota IN: MTC SU:

SB -- DE008 -- 5378 08/24/93 10:13 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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