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T CELL SCIENCES, INC. ANNOUNCES $18 MILLION PRIVATE PLACEMENT

 CAMBRIDGE, Mass., Nov. 23 /PRNewswire/ -- T Cell Sciences, Inc., (NASDAQ: TCEL), today announced an $18 million private placement of 2.835 million shares of T Cell Sciences Common Stock, $.001 par value. Several institutional investors from the U.S. and Europe have signed agreements to purchase the newly-issued stock at $6.35 per share. The closing of the transaction is conditioned upon the effectiveness of a registration statement to be filed by the company with the Securities and Exchange Commission covering resales by the purchasers. The transaction was arranged by Wertheim Schroder & Co., Incorporated.
 "The company's revenue base from product sales and product development revenues combined with its expense management has resulted in a relatively low burn of cash," said Alan Tuck, president and chief executive officer. "The $18 million from this transaction more than doubles our cash balance and will provide a means of accelerating the development of the company's proprietary second generation complement inhibitors for the treatment of inflammatory diseases and launching our first major immunodiagnostic product, TRAx(TM) CD4. The funds will also be used to advance our program to develop T cell antigen receptor (TCAR) therapeutics for the treatment of autoimmune diseases."
 Located in Cambridge, Mass., T Cell Sciences, Inc. is utilizing proprietary T cell and complement receptor technology to develop pharmaceutical products to treat diseases of inflammation, autoimmunity and cancer. T Cell Diagnostics, a wholly-owned subsidiary of T Cell Sciences, develops, manufactures and markets innovative diagnostic and research products.
 -0- 11/23/93
 /CONTACT: Alan W. Tuck, president and chief executive officer, or Jacqueline Arthur, vice president and chief financial officer, both of T Cell Sciences, 617-621-1400/
 (TCEL)


CO: T Cell Sciences, Inc. ST: Massachusetts IN: MTC SU: FNC

JL-CM -- NE010 -- 7351 11/23/93 15:04 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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