Subject: Company to Pay Cash, Stock For TargeTech Acquisition
Date: Published: 10/13/92 (25 lines)
Source: Wall Street Journal. Copyright Dow Jones & Co. Inc.

    Business Brief -- Immune Response Corp.:
    Company to Pay Cash, Stock
    For TargeTech Acquisition

    Immune Response Corp., a San Diego biopharmaceutical company,
 said it signed a letter of intent to acquire TargeTech Inc. for $3
 million in cash and 1.3 million shares of Immune Response stock.
    The stock, based on yesterday's price, has a value of $17.7
 million, giving the proposed transaction an indicated total value of
 $20.7 million.
    Immune Response shares were quoted yesterday at $13.375, up 50
 cents, in national over-the-counter trading.
    TargeTech is a privately owned biopharmaceutical company in
 Meriden, Conn.  "TargeTech's gene delivery technology complements our
 own expertise in the treatment and prevention of AIDS and autoimmune
 diseases," said Dennis J. Carlo, Immune Response's chief scientific
 officer.

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