RNS No 7478h
THERAPEUTIC ANTIBODIES INC
1st October 1998


Therapeutic Antibodies Inc

Therapeutic Antibodies Inc ('the Company') announces that it has
raised $2 million of interim finance by means of a placing of
unlisted Convertible Redeemable Preferred shares ('CRPs') with
Panmure Gordon & Co. Limited, the Company's advisers.  The CRPs
contain similar terms and provisions to the short-term interest
bearing notes with warrants recently issued by the Company.  They
carry a 15% dividend, are redeemable within 90 days and have
warrants attached giving the holder the right to subscribe for 1
share of common stock for every $10 worth of CRPs.  The CRPs may
also be converted into equity, in whole or in part, within 90 days
at a price equivalent to the then market price of the underlying
equity.

Stuart Wallis, Chairman, said:

'This placing covers our short-term requirements whilst we put in
place longer term financing for the Company.'


For further information, please contact:

Dr Andrew Heath
Therapeutic Antibodies, Inc   TEL: 0171 606 8637

William Clutterbuck
The Maitland Consultancy TEL: 0171 379 5151

END

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