Tuesday, Aug 19, 1980

Genentech Files Registration Statement With SEC For Its Initial Public Offering

South San Francisco, Calif. -- August 19, 1980 --

Genentech, Inc., founded in 1976 to specialize in recombinant DNA technology, also known as "gene-splicing", filed a registration statement today with the Securities and Exchange Commission for its initial public offering of common stock.

The Company made known plans for an offering of one million shares of common stock to be sold by the Company in the near future.

Genentech named as its managing underwriters Blyth Eastman Paine Webber, Incorporated (1221 Avenue of the Americas, New York, N.Y., 212-730-8500) and Hambrecht & Quist (235 Montgomery Street, San Francisco, CA (415-433-1720), from whom copies of a Prospectus may be obtained.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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