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CYTOGEN AND CYTORAD FILE UNIT OFFERING

 CYTOGEN AND CYTORAD FILE UNIT OFFERING
 PRINCETON, N.J., Dec. 10 /PRNewswire/ -- CYTOGEN Corporation


(NASDAQ: CYTO) announced today that CYTOGEN and CYTORAD Incorporated, a newly formed Delaware corporation, have filed a registration statement with the Securities and Exchange Commission relating to a proposed offering of 3.5 million units at an expected offering price between $10 and $12 per unit, each unit consisting of one share of the callable common stock of CYTORAD and one warrant to purchase one share of the common stock of CYTOGEN.
 The offering, expected in January, will be managed by Merrill Lynch & Co. and Lehman Brothers.
 CYTORAD will receive all of the net proceeds from the offering. These funds will be used by CYTORAD to engage CYTOGEN to conduct research and development relating to proprietary antibody-based delivery systems for diagnosis and treatment of prostate and bladder cancers. CYTOGEN will have an option, through Jan. 31, 1997, to acquire all of the common stock of CYTORAD at specified prices.
 The units are expected to trade on NASDAQ National Market System under the symbol "CYTD". The common stock of CYTORAD, all of which is callable, and the warrants comprising the units will trade only as units through Jan. 31, 1994.
 CYTOGEN is a biopharmaceutical company engaged in the development of proprietary systems utilizing monoclonal antibodies for the targeted delivery of diagnostic and therapeutic substances in human health care applications. CYTOGEN uses its patented and proprietary antibody "linker" technology to develop specific cancer diagnostic imaging and cancer therapeutic products, as well as certain other products.
 A registration statement relating to these securities has been filed with the Securities Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 /delval/
 -0- 12/10/91
 /CONTACT: Laura M. Hahn of CYTOGEN, 609-987-8221/
 (CYTO) CO: Cytogen Corporation ST: New Jersey IN: MTC SU:


KA -- PH005 -- 0984 12/10/91 11:35 EST
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Publication:PR Newswire
Date:Dec 10, 1991
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