* Cypress Biosciences Inc., of San Diego, completed its acquisitionof PRP Inc., a company that makes products to treat blood plateletdisorders. Cypress also said it raised $7 million in a privateplacement and will use the funds to support development of PRP'sinfusible platelet membranes (IMP). In buying PRP, Cypress issued$5 million in stock to PRP debt holders and agreed to make a $5million milestone payment upon approval of IMP.

* Immune Response Corp., of Carlsbad, Calif., raised another $2.1million in connection with its recent public offering afterunderwriters Hanifen Imhoff Inc., of Denver, and Cruttenden RothInc., of Irvine, Calif., exercised overallotment options. ImmuneResponse sold a total of 2.53 million shares at $6.50 per share in theOctober equity financing. Net proceeds were $15.4 million. (SeeBioWorld Today, Oct. 29, 1996, p. 1.)

(c) 1997 American Health Consultants. All rights reserved.

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