WALTHAM, Mass., June 12 /PRNewswire/ -- ImmuLogic Pharmaceutical
Corporation (Nasdaq: IMUL) announced today that it will be converting 433,333
American Depositary Shares ("ADSs") of Cantab Pharmaceuticals Plc ("Cantab")
into 1,300,000 Ordinary Shares of Cantab and has agreed to sell these shares
on the London Stock Exchange for aggregate gross proceeds of approximately
$7,215,000. In addition, ImmuLogic announced that it had agreed to sell an
additional 70,000 ADSs of Cantab to a private buyer in the United States for
aggregate gross proceeds of approximately $1,165,000. Each of these sales is
expected to be completed on or about June 16, 2000.
ImmuLogic Pharmaceutical Corporation was a biopharmaceutical company
located in Waltham, Massachusetts. On March 23, 1999, the Board of Directors
of ImmuLogic approved a plan of liquidation and dissolution. The Company's
press releases are available through Company News on Call by fax at 800-758-
5804, ext. 114501, and on the Internet at http://www.prnewswire.com
This press release contains forward-looking statements that involve a
number of risks and uncertainties, including risks and uncertainties that
relate to the liquidation of the Company's assets and satisfaction of its
liabilities, and the other risk factors detailed in the Company's Annual
Report on Form 10-K for the year ended December 31, 1999 and its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2000.
SOURCE ImmuLogic Pharmaceutical Corporation
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Company News On-Call:
http://www.prnewswire.com/comp/114501.html or fax,
800-758-5804, ext. 114501
CONTACT:
Investor Relations, ImmuLogic Pharmaceutical
Corporation, 781-466-6000
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