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CYTOGEN ENTERS AGREEMENTS TO RAISE $9.4 MILLION

 PRINCETON, N.J., Jan. 13 /PRNewswire/ -- CYTOGEN Corporation (NASDAQ: CYTO) announced today it has entered into definitive agreements to sell 2 million shares of common stock to several European institutions in Regulation S transactions.
 Net proceeds to CYTOGEN will be $9.4 million, an average of $4.72 per share. On Jan. 12, 1994, the closing bid for CYTOGEN was $6.
 CYTOGEN indicated it does not intend to enter into additional Regulation S transactions at this time. However, the company is currently considering proposals to raise additional capital, the outcome of which cannot be predicted.
 Regulation S is a Securities and Exchange Commission regulation which permits offers and sales of securities outside the United States to be made without registration under the Securities Act of 1933 provided certain conditions are met. Those conditions include a requirement that the stock cannot be resold into the United States for a period of not less than 40 days.
 Net proceeds from the agreements will be used for general corporate purposes including OncoScint(R) CR/OV (colorectal and ovarian cancer imaging) marketing and sales activities and product development programs which include MRUs (molecular recognition units), as well as human clinical trials for Samarium EDTMP (for treatment of bone pain), OncoScint Prostate (prostate cancer imaging), OncoRad(R) Ovarian (ovarian cancer therapy), and OncoRad Prostate (prostate cancer therapy).
 CYTOGEN is a biopharmaceutical company engaged in the marketing and development of products for the targeted delivery of diagnostic and therapeutic substances directly to sites of disease. CYTOGEN uses its patented and proprietary antibody "linker" technology primarily to develop specific cancer diagnostic imaging and cancer therapeutic products.
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 /CONTACT: Colleen P. Teschko, corporate communications of Cytogen, 609-987-8221/
 (CYTO)


CO: Cytogen Corporation ST: New Jersey IN: MTC SU:

LJ -- PH007 -- 1750 01/13/94 10:05 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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