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SangStat Medical Corporation Sells 3,000,000 Shares of Common Stock in Public Offering.

MENLO PARK, Calif.--(BUSINESS WIRE)--March 8, 1996--SangStat, The Transplant Company(TM) (NASDAQ:SANG), announced today the sale of 3,000,000 shares of its Common Stock in an underwritten public offering at a price of $14.00 per share. The offering is underwritten by Hambrecht & Quist LLC, Montgomery Securities and Jefferies & Company. The Company has granted the underwriters a 30-day option to purchase up to 450,000 additional shares solely to cover over allotments, if any.

A copy of the prospectus may be obtained from the Syndicate Department of Hambrecht & Quist, 230 Park Avenue, New York, NY 10169, Telephone: 212/207-1400; Montgomery Securities, 600 Montgomery Street, San Francisco, CA 94111, Telephone: 415/627-2000 or Jefferies & Company, 650 Fifth Avenue, New York, NY 10019, Telephone: 212/903-2550.

Following the offering, the Company has approximately 12,598,083 shares outstanding. The net proceeds to the Company will be used for continued research and development, working capital and other general corporate purposes.

SangStat is a biopharmaceutical company applying a disease management approach to improve the outcome of organ transplantation.

SangStat is located in Menlo Park, California, and operates wholly-owned subsidiaries, XenoStat, Inc., in Menlo Park, California, SangStat Atlantique S.A. in Nantes, France and SangStat Canada, Ltd. in Mississauga, Ontario, Canada.

CONTACT: SangStat Medical Corporation, Menlo Park

Philippe Pouletty or Maree Wall, 415/328-0300
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Publication:Business Wire
Date:Mar 8, 1996
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