Contact: Richard W. Krawiec, Ph.D.,
Vice President, Investor Relations, Corporate Communications
Cytogen Corporation
(609) 750-8289



             CYTOGEN ANNOUNCES $70 MILLION EQUITY FINANCING FACILITY

PRINCETON,  N.J.  -  October  10,  2000 -  Cytogen  Corporation  (Nasdaq:  CYTO)
announced today that it has entered into an equity financing facility from Acqua
Wellington North American Equities Fund, Ltd. ("Aqua  Wellington") for up to $70
million.  Over  the  next  20  months,  Cytogen  may,  at its  discretion,  sell
additional  shares of its  common  stock to Acqua  Wellington  pursuant  to this
financing  facility at a small  discount to market to be determined  before each
sale.  This  financing   facility  is  not  subject  to  any  minimum   takedown
requirements,  nor did  the  Company  pay any  fees  or  other  compensation  in
connection with this transaction.  Recently, Cytogen also received $6 million in
net proceeds from an equity  placement of 902,601  shares of  registered  common
stock  with  Acqua  Wellington.  Cytogen  plans  to use  the  proceeds  of  this
transaction to accelerate its proteomic and drug development programs as well as
for general corporate purposes.

"This  financing  facility  will give  Cytogen the ability to access  capital as
needed to accelerate  development of our proteomics  program and to continue our
focus on  strategies  that will enhance  shareholder  value,"  said  Lawrence R.
Hoffman,  Cytogen's Vice President and Chief Financial Officer.  "With increased
financial  resources,  including the anticipated  sale of tax benefits this year
through the State of New Jersey,  Cytogen will be in a stronger position to move
its  products  through  development,  to  acquire  or to  in-license  additional
products that  complement  our business  objectives  in proteomics  and prostate
cancer, and to pursue additional strategic partnerships."

Acqua  Wellington  Asset  Management,  LLC  acts  as the  advisor  to the  Acqua
Wellington Family of Funds, which is targeted at investment  opportunities among
mid-cap and small-cap  publicly traded companies in domestic and global markets.
Their primary focus is in the technology and life science sectors.

Cytogen  Corporation  is a  biopharmaceutical  company in  Princeton,  NJ, whose
mission is setting new  standards in cancer  care.  Its two  principal  lines of
business,  proteomics  and oncology,  are built upon its expertise in antibodies
and molecular  recognition and are directed  principally to development of novel
products for the diagnosis,  imaging,  staging and treatment of prostate  cancer
and a proteomics-driven drug discovery platform. The Company's cancer management
franchise currently comprises three FDA-approved products: ProstaScint(R),  used
to image the  extent  and  spread of  prostate  cancer;






OncoScint  CR/OV(R),  a  diagnostic  imaging  agent for  colorectal  and ovarian
cancer;  and  Quadramet(R),  for the relief of  cancer-related  bone  pain.  The
Company  has  established  a  pipeline  of  product   candidates  based  on  its
proprietary   antibody  and  prostate  specific   membrane  antigen,   or  PSMA,
technologies,  and holds worldwide  exclusive  license to PSMA.  Cytogen and its
joint  venture  partner,  Progenics  Pharmaceuticals,   are  developing  in-vivo
immunotherapies  for prostate  cancer  based on PSMA.  The Company also has U.S.
marketing rights to the late-stage  product  candidate  Combidex(R),  a magnetic
resonance imaging agent being developed by Advanced  Magnetics for the detection
of  lymph  node  metastases.   The  Company's  subsidiary,   AxCell  Biosciences
Corporation,  is developing a  proprietary  protein  pathway  database as a drug
discovery  and  development  tool  for  the   pharmaceutical  and  biotechnology
industries. For additional information on Cytogen, visit the Company's web sites
at www.cytogen.com and www.axcellbio.com

This press release  contains  certain  "forward-looking"  statements  within the
meaning of the Private Securities Litigation Reform Act of 1995.  Information in
this press release,  which is not historical,  is forward looking and involves a
number of risks and uncertainties.  Investors are cautioned not to put any undue
reliance on any  forward-looking  statement.  The Company's  actual  results may
differ materially from the Company's  historical results of operations and those
discussed in the forward-looking statements for various reasons,  including, but
not limited to the Company's  ability to  successfully  complete the sale of its
New Jersey tax benefits  under the State of New Jersey's tax loss sale  program,
to carry out its business plan, successful development and commercial acceptance
of its products, ability to fund development necessary for existing products and
for the  pursuit of new  product  opportunities,  the risk of  whether  products
result from  development  activities,  protection of its  intellectual  property
portfolio,  ability to integrate in-licensed products,  ability to establish and
successfully  complete clinical trials where required for product approval,  the
risk associated with obtaining the necessary regulatory approvals, dependence on
its partners for development of certain projects,  the ability to obtain foreign
regulatory  approvals for products and to establish  marketing  arrangements  in
countries  where  approval  is  obtained,  and other  factors  discussed  in the
Company's 1999 Form 10-K and from  time-to-time the Company's other filings with
the Securities and Exchange Commission.

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