FOR IMMEDIATE RELEASE
CONTACT: DORA CIOCE
(973) 575-1700
Cistron Stockholders Approve Merger With Celltech
Parsippany, N. J., November 3, 2000 -- Stockholders of
Cistron Biotechnology, Inc. (OTC:CIST) yesterday approved the
merger of the company with a subsidiary of Celltech Group plc
(NYSE:CLL; LSE:CCH), a UK-based biopharmaceutical company, at a
special stockholders' meeting. A majority of the outstanding
Cistron shares were voted in favor of the merger.
The transaction is expected to close next week, subject to
the satisfaction or waiver of customary closing conditions.
Upon closing, former Cistron stockholders will receive Celltech
American Depositary Shares in exchange for each outstanding
share of Cistron common stock. The amount of American
Depositary Shares that former Cistron shareholders will receive
is more fully described in Cistron's proxy statement, previously
delivered to stockholders of record as of September 12.
Celltech Group, based in Slough, Berkshire in the UK, is a
major European-based biopharmaceutical company with substantial
operations in the U.S. The group undertakes drug discovery,
development and international marketing. Celltech is listed on
both the New York and London Stock Exchanges.
Cistron, headquartered in Parsippany, N.J. was founded in
1984. It is a biotechnology company that uses recombinant DNA
and immunological techniques to explore certain cytokines and
antibodies that may have therapeutic or diagnostic applications.
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