Highlights:
    - Concludes successful Follow-on Offering April 2, 1997

    RALEIGH, N.C., May 8 /PRNewswire/ -- CLOSURE Medical Corporation
(Nasdaq: CLSR), a medical tissue cohesive products company, today announced
that total revenues for the three months ended March 31, 1997 were $208,000
compared to $3,662,000 in the 1996 comparable period.  The net loss for the
1997 quarter was $1.5 million, or ($.12) per share, compared to net income of
$1.8 million, or $.18 per share in the corresponding 1996 period.  The 1996
first quarter results reflected the receipt of $3.5 million in license and
product development revenues under the Supply and Distribution Agreement for
TraumaSeal, the Company's topical cohesive product, entered into with Ethicon,
Inc., a division of Johnson & Johnson, in March 1996.
    Cash and cash equivalents and total investments were $16,019,000 at
March 31, 1997 compared to $18,060,000 at December 31, 1996.
    On April 2, 1997, the Company completed a follow-on public offering of
1,725,000 shares of its Common Stock.  Of these shares, 1,025,000 were sold by
the Company, and 700,000 by a stockholder of the Company.  The Company expects
to use the proceeds, approximately $12.4 million before offering expenses,
from the offering to fund research and development, clinical trials and
capital expenditures and for working capital and general purposes.
    "We continue to progress in all areas of our business," said Robert Toni,
President and Chief  Executive Officer.  "TraumaSeal, our lead non-absorbable
cohesive, is currently under expedited review by the FDA, and is poised for
market introductions in two European countries, Australia and Canada in the
second half of 1997. In addition, the capital raised by our recent equity
offering will help accelerate our critical research and development and pre-
clinical work on absorbable sealants and cohesives for internal surgical
procedures."
    CLOSURE Medical develops, commercializes and manufactures medical cohesive
products based on its proprietary cyanoacrylate technology.  CLOSURE's
nonabsorbable products may be used to replace sutures and staples for certain
topical wound closure applications, while its absorbable products can
potentially be used as surgical sealants and adhesives for internal wound
closure and management.  Currently marketed products include Octyldent, used
in conjunction with antibiotics to treat adult periodontal disease, and
Nexaband, a line of topical adhesives used in veterinary wound closure and
management.
    To receive CLOSURE's latest news release and other corporate documents via
FAX -- at no cost -- dial 1-800-PRO-INFO.  Use Company's ticker-CLSR.

    This release contains certain forward-looking statements which involve
known and unknown risks, delays, uncertainties or other factors not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance, or
other expectations implied by these forward-looking statements.  These
factors include, but are not limited to the early stage of commercialization
of the Company's products; the need for regulatory approval and effects of
governmental regulation; technological uncertainties; dependence on marketing
partners; and dependence on patents and trade secrets, as well as those
detailed in the Company's Annual Report on Form 10-K for the year ended
December 31, 1996 filed with the Securities and Exchange Commission.

                         CLOSURE Medical Corporation
                                Balance Sheet
                    (In thousands, except for share data)

                                        March 31,   December 31,
                                          1997        1996
    Assets                            (Unaudited)
    Current assets:
    Cash and cash equivalents           $ 10,918     $ 13,024
    Short-term investments                 5,101        4,627
    Accounts receivable                      135           67
    Inventories                              150          112
    Prepaid expenses                         466          388
    Total current assets                  16,770       18,218
    Furniture, fixtures and equipment      1,255          851
    Less-accumulated depreciation and
     amortization                           (210)        (179)
    Total                                  1,045          672
    Long-term investments                     --          409
    Intangible assets, net of
     accumulated amortization                233          213
    Total assets                        $ 18,048     $ 19,512

    Liabilities and Stockholders' Equity
    Accounts payable                    $    691     $    566
    Accrued expenses                         219          396
    Deferred revenue                       2,054        2,069
    Capital lease obligations                  9           12
    Total current liabilities              2,973        3,043
    Capital lease obligations                 14           14
    Total liabilities                      2,987        3,057
    Stockholders' Equity
     Preferred Stock, $.01 par value.
      Authorized 2,000,000; none issued
      or outstanding.
     Common Stock, $.01 par value.
      Authorized 35,000,000 shares;
      issued and outstanding
      12,155,029 shares.                     122          122
    Additional paid-in-capital            33,605       33,579
    Accumulated deficit                  (17,742)      16,246
    Deferred compensation on stock options  (924)      (1,000)
    Total stockholders' equity            15,061       16,455
    Total liabilities and
     stockholders' equity               $ 18,048     $ 19,512


                           CLOSURE Medical Corporation
                             Statement of Operations
                                   (Unaudited)
                      (In thousands, except per share data)

                                Three Months
                               Ended March 31,
                              1997         1996
    Product sales           $  208       $  162
    License and product
     development revenues       --        3,500
    Total revenues             208        3,662
    Cost of products sold      151          136
    Gross  profit and
     license and product
     development revenues       57        3,526
    Research, development
     and regulatory
     affairs expenses          750          651
    Selling and administrative
     expenses                1,062          626
    Payments to
     Caratec, L.L.C.            --          287
    Total operating expenses 1,812        1,564
    Income (loss) from
     operations             (1,755)       1,962
    Interest expense to
     Sharpoint Development
     Corporation                (1)        (134)
    Investment and interest
     income                    260           --
    Net income (loss)      ($1,496)      $1,828
    Shares used in computation
     of net income (loss)
     per share              12,210       10,150
    Net income (loss)
     per share              $(0.12)      $ 0.18

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