MINNEAPOLIS, July 13 /PRNewswire/ -- CELLEX BIOSCIENCES, Inc.
(OTC Bulletin Board: CLXX, CLXXL, CLXXZ) announced today that on July 7, 1999,
the U.S. Bankruptcy Court District of Minnesota, entered the Order confirming
the company's Modified First Amended Plan of Reorganization dated June 28,
1999 under Chapter II (the "Plan").  The Plan was accepted by all of the
requisite classes of the company's creditors entitled to vote.  The plan will
become effective on July 30, 1999 (the "Effective Date") subject to the cash
investment by Biovest, L.L.C. ("Biovest") of an additional $265,000 and the
payment of approximately $700,000 to a financial institution, a secured
creditor of the company.  Since February 1999, Biovest has provided $935,000
in debtor-in-possession financing to the company.
    The Plan provides for Biovest to gain equity control of the company with
25% of the company's new common stock being issued to the company's unsecured
creditors.  As stated in previous press releases issued by the company and in
a notice mailed to the company's equity holders in March 1999, all prior
equity interests in the debtor will be canceled as of the Effective Date.
    Upon consummation of the Plan, the company will issue a press release
providing additional details of the Plan and of the company's new common
stock.
    Cellex Biosciences, Inc. provides advanced cell culture technology --
through patented perfusion systems including the industry's leading ACUSYST(R)
hollow fiber systems and contract production services including cell line
selection, optimization and subcloning, whole cell and secreted protein
production and cell banking.  Customers include pharmaceutical, diagnostic and
biotechnology companies as well as leading research institutions worldwide.
Cell culture is a key process used by these organizations for the creation of
novel proteins and monoclonal antibodies needed to detect and treat human
diseases such as cancer and AIDS.  The company's corporate headquarters,
research and development, contract cell culture production and manufacturing
operations are located in Minneapolis, Minn.
    Biovest is an entity formed for the purpose of acquiring a majority
interest in the equity of Cellex Biosciences Inc.
    These statements contained in this press release that are forward-looking,
including those which relate to the consummation of the company's plan of
reorganization, are subject to risks, and uncertainties which could cause
actual results to differ materially from the statements made herein.  Any
inability to consummate the plan of reorganization would have a material
adverse effect on the company, including requiring the company to curtail and
possibly cease operations.  Additional risks and uncertainties related to the
company have been included in the company's filings made with the Securities
and Exchange Commission.

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