Alliance Pharmaceutical Corp. announces public offering

Business Wire, April 2, 1996

SAN DIEGO--(BUSINESS WIRE)--April 2, 1996--Alliance Pharmaceutical Corp. (NASDAQ:ALLP) Tuesday announced that its public offering of 2,500,000 shares of common stock has been declared effective.

The shares have been offered at a price of $16.50 per share by Lehman Brothers, Cowen & Co. and Oppenheimer & Co. Inc., the managing underwriters for the offering.

Alliance is a pharmaceutical research and development company focusing on transforming scientific discoveries into potential drug products.

The company has three products in clinical trials: LiquiVent, an intrapulmonary agent for treatment of acute respiratory failure, being developed by Alliance and Hoechst Marion Roussel Inc.; Oxygent, an intravascular oxygen carrier for use as a temporary "blood substitute" to reduce or eliminate the requirement for allogeneic (donor) blood transfusions during elective surgery, being developed by Alliance and affiliates of Johnson & Johnson; and Imagent US, a perfluorochemical-based intravenous ultrasound contrast agent being developed to aid in the assessment of cardiac function and myocardial perfusion, as well as the detection of solid organ esions and blood flow abnormalities.

CONTACT: Alliance Pharmaceutical Corp., San Diego

Gwen Rosenberg, 619/558-4300