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CYTOTHERAPEUTICS COMPLETES PRIVATE PLACEMENT TOTALING $18.75 MILLION

 PROVIDENCE, R.I., Oct. 6 /PRNewswire/ -- CytoTherapeutics, Inc. (NASDAQ: CTII) today announced that it has completed the sale of 2.5 million newly issued shares of common stock. This private placement was previously disclosed on Sept. 13, 1993. The proceeds to the company, net of expenses, are approximately $17.5 million. With the completion of the private placement, CytoTherapeutics has approximately 10.4 million shares of common stock outstanding. The financing was arranged by Robertson, Stephens & Company and Tucker Anthony Incorporated and included several institutional investors.
 CytoTherapeutics is a leader in the development of implantable delivery systems for biologically active and gene therapy products for the treatment of central nervous system (CNS) diseases and other chronic disorders. The company's CNS products in development include its CereCRIB(TM) implant for the treatment of chronic pain and its NeuroCRIB(TM) implant for the treatment of Parkinson's disease. The company is also developing applications of its CRIB(TM) technology for the potential treatment of Alzheimer's disease, amyotrophic lateral sclerosis and multiple sclerosis, as well as other neurodegenerative diseases.
 -0- 10/6/93
 /CONTACT: Daniel E. Geffken, chief financial officer, 401-272-3310, ext. 2126, or Elizabeth Razee, communications coordinator, 401-272-3310, ext. 2132, both of CytoTherapeutics/
 (CTII)


CO: CytoTherapeutics ST: Rhode Island IN: MTC SU:

JL-CM -- NE005 -- 9219 10/06/93 09:22 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:218
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