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EPITOPE ANNOUNCES PRIVATE PLACEMENT

 BEAVERTON, Ore., Dec. 23 /PRNewswire/ -- Epitope Inc. (AMEX: EPT) today announced an $8.06-million private placement with European Institutions. The company issued approximately 2.9 million warrants to purchase Epitope common stock at a price of $14.875 per share. The warrants expire on the earlier of (1) 120 days after Food and Drug Administration approval of the company's OraSure(R) oral specimen collection device for HIV-1 screening, (2) 120 days after the average sales price of Epitope common stock has been at least $30 for 20 consecutive trading days, or (3) Dec. 23, 1997.
 "We are pleased with the confidence European investors have expressed in Epitope by participating in this financing at this time," said Adolph J. Ferro, president and chief executive officer. He noted that the placement not only provides funding for current activities, but if the warrants are exercised, also provides the basis for additional funding of as much as $40 million in the future.
 Epitope Inc. is an Oregon corporation utilizing biotechnology to develop diagnostic tests for AIDS and other indications and, through its agricultural unit, Agritope Inc., superior new plant varieties utilizing proprietary technology.
 -0- 12/23/92
 /CONTACT: Mary Hagen of Epitope, 503-641-6115; or Shari Annes of Annes Associates, 415-726-5400, for Epitope/
 (EPT)


CO: Epitope Inc. ST: Oregon IN: MTC SU:

SW -- SE010 -- 9740 12/23/92 17:31 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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