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ENDOTRONICS, INC. COMMENCES ITS SECONDARY OFFERING; CHANGES NAME TO CELLEX BIOSCIENCES

 MINNEAPOLIS, May 13 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) announced today that its secondary stock offering of 1,500,000 Units at $6.00 per Unit became effective May 12, 1993. 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 $.675. The securities underlying the Units will not be separable or separately transferable prior to Nov. 12, 1993, without the underwriter's consent. The Units and, once separately transferable, the Warrants will be quoted on NASDAQ under the symbols CLXXU and CLXXW, respectively.
 Whale Securities Co., L.P., of New York is the managing underwriter of the offering. The underwriter has an option, exercisable within 45 days of the effective date of the offering, to purchase an additional 225,000 Units to cover over allotments. The 1,800,000 shares of common stock and the 1,800,000 Warrants underlying these 225,000 Units will be provided by a selling shareholder and the company, respectively. The anticipated closing date for the offering is May 20, 1993.
 The company also announced that effective today its name has been changed to Cellex Biosciences, Inc., and its common stock will now trade under the symbol CLXX.
 Richard E. Sakowicz, Cellex Biosciences, Inc. president and chief operating officer, said, "The company intends to use the proceeds of the offering for repayment of certain indebtedness, including indebtedness resulting from the recent purchase of a product line from Verax Corporation, for continued research and development and for working capital and general corporate purposes."
 In commenting on the name change, Sakowicz said: "Over the past year, we've made significant progress in reshaping the company into the premier cell culture supply company by broadening our product offerings and expanding their uses into multiple fields. As a result of these changes, we elected to change the company's name to convey a fuller and more accurate sense of our expanded corporate mission."
 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- 5/13/93
 /CONTACT: Yvonne L. Marschner-Bova, director, Investor Relations, Cellex Biosciences, Inc., 313-871-7350/
 (CLXX ENDO)


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

KR -- DE008 -- 7970 05/13/93 09:38 EDT
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Date:May 13, 1993
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