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TECHNICLONE INTERNATIONAL CORP. FINALIZES STOCK PURCHASE AGREEMENTS

TECHNICLONE INTERNATIONAL CORP. FINALIZES STOCK PURCHASE AGREEMENTS
 TUSTIN, Calif., Sept. 9 /PRNewswire/ -- Techniclone International Corp. ("TCLN") reported that it has finalized agreements with an individual and a limited partnership for the purchase of a total of 2 million shares of the common stock of the company for $1.20 per share or an aggregate purchase price of $2.4 million.
 The agreements provide for the purchase of 208,333 shares in August 1992 and a like amount in September 1992. The agreements also provide for purchases of 416,666 shares in October, November and December 1992, and 333,334 shares in March 1993.
 The company intends to use the proceeds of the offering to support operations, commence the resumption of LYM-1 clinical trials and for working capital. The company is currently negotiating with additional individuals and companies for the investment of additional funds to fund the development and clinical trials of the company's antibodies and the company's continued operations.
 -0- 9/9/92
 /CONTACT: Lon H. Stone, chairman and CEO of Techniclone International, 714-838-0500/ CO: Techniclone International Corp. ST: California IN: MTC SU:


JB-KJ -- LA006 -- 7361 09/09/92 09:03 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
Words:192
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