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To: ToTradeWell who wrote (2485)	8/10/2001 9:13:46 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 120411

right on the money...INCR: Incara Pharmaceuticals Raises $6.9 million in Stock Offering; Funding to Advance Liver Stem Cell Program RESEARCH TRIANGLE PARK, N.C., Aug. 10 /PRNewswire/ -- Incara Pharmaceuticals Corporation (Nasdaq: INCR - news) announced today that it has received subscriptions for approximately $6.9 million in an offering of common stock with warrants. Investors in the financing included Deerfield Capital Management, Merlin Biomed Asset Management, and other institutional and individual investors. The placement agent for the offering is Petkevich & Partners, LLC. ``We are extremely pleased with the quality of our new investors, and the confidence they have shown in our programs,'' stated Clayton I. Duncan, Chairman and CEO of Incara. ``This financing will provide the resources necessary to allow Incara to advance our adult liver stem cell program into clinical trials. In President Bush's address on stem cell research last night, he spoke of the importance and great promise of adult stem cell research and how many patients suffering from a range of diseases are already being helped with treatments developed from adult stem cells. Outside the adult stem cell area, we are seeking a corporate partnership for stroke in our catalytic antioxidant program and continuing the Phase 2/3 clinical trial for OP2000 for ulcerative colitis.'' The initial closing of the financing consists of 4,245,525 shares of common stock subscribed for at the August 8, 2001 closing price of $1.62, along with warrants to purchase 1,018,926 shares of common stock at an exercise price of $2.025 per share. Incara is selling its stock at the daily common stock closing price per share under a continuous offering registered with the SEC that will remain open until $10 million of stock is sold or the offering is withdrawn. For a copy of the prospectus, please contact Bennett Love at Incara at 919-558-1907. Alternatively, a copy of the prospectus can be obtained from the U. S. Securities and Exchange Commission website at www.sec.gov under the EDGAR filings.