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TELIOS PHARMACEUTICALS INC. SELLS 2.5 MILLION SHARES OF COMMON STOCK IN INITIAL PUBLIC OFFERING

 TELIOS PHARMACEUTICALS INC. SELLS 2.5 MILLION SHARES
 OF COMMON STOCK IN INITIAL PUBLIC OFFERING
 SAN DIEGO, March 19 /PRNewswire/ -- Telios Pharmaceuticals Inc. announced that it has sold 2.5 million shares of common stock priced at $8.00 per share. Of the stock sold, 2 million shares are being initially offered in the United States and Canada, and 500,000 shares are being offered initially outside of the United States and Canada. The underwriters for this offering in the United States and Canada are Morgan Stanley & Co. Inc. and Hambrecht & Quist Inc., and outside of the United States and Canada are Morgan Stanley International, Hambrecht & Quist Inc. and Deutsche Bank Aktiengesellschaft. After the offering, Telios will have approximately 19.2 million shares outstanding.
 Telios Pharmaceuticals Inc. was founded in 1987 to develop an important new class of therapeutic products based upon pioneering research into the role of the extracellular matrix. The company is applying its proprietary technology to develop products for the treatment of severe and chronic dermal wounds, ophthalmic wounds, fibrotic disease (such as certain kidney diseases, liver cirrhosis and acute respiratory distress syndrome), cardiovascular disease and osteoporosis. The company currently is in clinical trials with two novel peptide-based products: Telio-Derm(TM), a treatment to accelerate healing of severe and chronic dermal wounds, and OcuNex(TM), an ophthalmic wound healing product.
 Copies of the prospectus can be obtained from the office of Morgan Stanley & Co. Inc., 1251 Avenue of the Americas, New York, NY 10020, or Hambrecht & Quist Inc., 1 Bush Street, San Francisco, CA 92104.
 -0- 3/19/92
 /CONTACT: Richard A. Kaufman, vice president, secretary and general counsel, or Audrey L. Dickason, director of corporate development, of Telios Pharmaceuticals, 619-622-2660/ CO: Telios Pharmaceuticals Inc. ST: California IN: MTC SU:


DM-CH -- SD007 -- 9772 03/19/92 14:55 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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