<PRAXIS BIOLOGICS INC> MAKES INITIAL STOCK SALE
Praxis Biologics Inc said it
began its initial public common stock offering of 1,750,000
shares at 15.50 dlrs a share.
    The company said proceeds of the offering will be used to
fund product research and development, including clinical
testing.
    It said the money will also be used to cover acquisition,
construction and equipment costs and for working capital.
    The offering is being managed by Shearson Lehman Bros Inc
and Merrill Lynch Capital Markets, the company said.
 Reuter
