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TECHNICLONE INTERNATIONAL CORP. ANNOUNCES AGREEMENT WITH GFT GES M.B.H.

TECHNICLONE INTERNATIONAL CORP. ANNOUNCES AGREEMENT WITH GFT GES M.B.H.
 TUSTIN, Calif., April 10 /PRNewswire/ -- Techniclone International Corp. (OTC Bulletin Board: TCLN) announced that it has reached an agreement with GFT Ges m.b.H., a private investor, to privately place 1,000,000 shares of its restricted common stock. This sale of 1,000,000 shares is to be completed on or before April 30, 1992 and will provide the company with $2,000,000 of additional equity.
 The company continues to negotiate with other private investors for the sale of 10,000 shares of its Class B convertible stock for $7,000,000. The Class B convertible stock will be convertible at $2 per share into 3,500,000 shares of Techniclone's common stock. In addition, the company continues to negotiate with other private investors for the private placement of an additional 2,000,000 shares of its common stock at $2 per share. Lon H. Stone, the chief executive officer of Techniclone, stated that Techniclone has not executed any agreements concerning the sale of the Class B convertible stock or the sale of the additional 2,000,000 shares of common stock and that, since negotiations are ongoing, the terms of any such transaction may change materially if agreements between the company and private investors are finalized.
 Stone further stated that the company continues to seek additional financing to enable Techniclone to complete its clinical trials on its radioactive monoclonal antibody, LYM-1, thereby enabling Techniclone to apply for FDA approval to sell the antibody.
 -0- 4/10/92
 /CONTACT: Lon H. Stone, chairman and CEO of Techniclone International, 714-838-0500/
 (TCLN) CO: Techniclone International Corp. ST: California IN: MTC SU:


AL-DM -- LA016 -- 7314 04/10/92 14:59 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
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