<PAGE>   1
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                       PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934


     Date of Report (Date of earliest event reported)  February 5, 1996
                                                       ----------------



                       TECHNICLONE INTERNATIONAL CORPORATION           
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)




                   California              0-17085            95-3698422        
          ------------------------------------------------------------------
          (State or other jurisdiction   (Commission        (IRS Employer
                of incorporation)        File Number)     Identification No)




            14282 Franklin Avenue, Tustin, California       92680       
            --------------------------------------------------------
            (Address of principal executive offices)      (Zip Code)




       Registrant's telephone number, including area code (714) 838-0500
                                                          --------------



                                 Not Applicable                         
         -------------------------------------------------------------
         (Former name or former address, if changed since last report)



                                  Page 1 of 16
                            Exhibit Index on Page 5



<PAGE>   2

ITEM 5.  OTHER EVENTS


JOINT VENTURE WITH CAMBRIDGE ANTIBODY TECHNOLOGY, LTD.

        On February 5, 1996, Techniclone International Corporation (the 
"Registrant") entered into an agreement (the "Agreement") with Cambridge 
Antibody Technology, Ltd. ("CAT") to develop and market a new class of 
products for cancer therapy and diagnosis.  The Agreement provides that 
Registrant and CAT will develop a monoclonal antibody based upon CAT's 
patented technology for producing fully human monoclonal antibodies and 
Registrant's Tumor Necrosis Technology.  The Agreement provides that equity 
in the joint venture and costs associated with the development of the product 
would be shared equally between Registrant and CAT.  Registrant would retain 
exclusive world-wide manufacturing rights.

        It is anticipated that the joint venture would conduct clinical trials
concurrently in both the United States and Europe.




                                        2



<PAGE>   3

ITEM 7.  EXHIBITS


EXHIBIT NO.   DESCRIPTION


10.1   Agreement dated February 5, 1996 between Cambridge Antibody Technology,
       Ltd. and Registrant.

99.1   Press Release dated February 6, 1996.








                                        3



<PAGE>   4

                                   SIGNATURE

          Pursuant to the requirements of the Securities Exchange Act of 1934, 
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                           TECHNICLONE INTERNATIONAL
                                           CORPORATION



Date:  February 6, 1996                    By:  /s/ R.C. SHEPARD 
                                               -------------------------------
                                                    R.C. Shepard 
                                                    Assistant Secretary





                                        4




<PAGE>   5

                                 EXHIBIT INDEX


                                                        

<TABLE>
<CAPTION>
                                                                     SEQUENTIAL
EXHIBIT NO.                   DESCRIPTION                             PAGE NO.  
- -----------                   -----------                            ----------
<S>               <C>                                                    <C>
10.1              Agreement dated February 5, 1996, between              6
                  Cambridge Antibody Technology, Ltd. and     
                  Registrant                                  
                                                              
99.1              Press Release dated February 6, 1996                  15
</TABLE>






                                        5





<PAGE>   1
                                                                EXHIBIT 10.1

                                   AGREEMENT


THIS AGREEMENT is made the 5th day of February 1996 between CAMBRIDGE ANTIBODY
TECHNOLOGY LIMITED ("CAT") whose registered office is at The Science Park,
Melbourne, Royston, Hertfordshire, SG8 6JJ, UK, and TECHNICLONE INTERNATIONAL
CORPORATION ("TCLN") of 14282 Franklin Avenue, Tustin, California.


BACKGROUND

CAT and TCLN wish to enter into a collaborative venture to produce human
antibodies to replace murine antibodies currently being used in the treatment
of cancer using the Tumor Necrosis Therapy ("TNT") technology on the terms and
conditions set out below.

CAT has obtained rights from Genetech Inc. relating to the Cabilly patent.  If
a license to the Cabilly patent is required for the performance of this
Agreement, CAT will use one of its options for a Cabilly license for
anti-histone antibodies, if this is the most cost-effective route for obtaining
such a license.

The venture is to be concerned initially with in vivo radioimmunoconjugate
applications of the technology.  The parties will, however, keep the venture
under constant review through the Business Committee to be established pursuant
to the Agreement with a view to expanding and extending the venture into
broader
 applications of the technology which are of mutual interest.


IT IS AGREED


DEFINITIONS

In this Agreement, unless the context otherwise requires, the following
expressions shall have the following meanings:

Antibody                  a molecule comprising or containing one or more
                          immunoglobulin variable domains or parts of such
                          domains and that binds or is intended to bind to the
                          Antigen.

Antigen                   any antigen the use of antibodies against which would
                          infringe the Techniclone Patents

CAT Patents               PCT/GB91/01134, EPO 368 684, the patents when granted
                          and any patents issuing pursuant to those patents or
                          applications, including any division, continuation,
                          continuation-in-part, renewal, extension,
                          re-examination, reissue or foreign counterpart

Designated Cell-line      a cell-line intended for the production of human
                          Antibodies and designated pursuant to sub-clause 
                          2.2(b) below

Direct Cost               direct cost shall mean labor, material and production
                          overhead costs which are directly attributable to
                          manufacturing the Product for Phase III clinical





                                        6

<PAGE>   2
                          trials.  "Direct Cost" does not include general and
                          administrative costs or general overhead

Effective Date            the date of signature of this Agreement

Field                     in vivo use of necrotic tissue using Antibodies as
                          radioimmuno-conjugate(s), as such use is covered by
                          the Techniclone Patents with targeting moietics
                          applicable to the Techniclone Patents and developed
                          pursuant to this Agreement, including without
                          limitation antibodies TNT1, TNT2 and TNT3 chimeric
                          and human antibodies to those antigens, including
                          vasopermeation technology when linked to or used in
                          conjunction with Products

Improvements              any improvements to the Field (whether or not
                          patentable) created by either or both parties
                          pursuant to the performance of this Agreement.

Intellectual Property     the CAT Patents, the Techniclone Patents, related
                          unpatented intellectual property rights and 
                          Improvements

Net Royalties             those royalties remaining after deduction of any
                          payments that are required to be made to third parties

Net Selling Price         the selling price of Products invoiced to independent
                          third parties in an arm's length transaction less:

                          (a)  cash, trade or quantity discounts;
                          (b)  credits for returns or replacements;
                          (c)  carriage, packing and insurance charges;
                          (d)  sales and other similar taxes where such items
                               are individually itemized on the appropriate 
                               invoice

Overall Field             applications relating to necrotic tissue targeting
                          covered by the Techniclone Patents other than
                          applications in the Field

Product                   a finished product made using or incorporating one or
more Antibodies

Techniclone Patents       U.S. 5,019,368, U.S. 4,861,581, and EPO 270340 (for
                          vasopermeation.  The European notice of grant has
                          been issued -- in the U.S., the application is
                          pending.)  The patents when granted and any patents
                          issuing pursuant to those patents or application,
                          including any division, continuation,
                          continuation-in-part, renewal extension,
                          re-examination, reissue or foreign counterpart


1.       LICENSES

         1.1     Each party shall grant to the other such co-exclusive licenses
                 to the Intellectual Property in the Field as may be necessary
                 to allow each party to perform this Agreement and to make,
                 have made, use and sell Products.





                                        7



<PAGE>   3
         1.2     CAT acknowledges that TCLN has licensed some aspects of the
                 Field relating to chimeric antibodies in China and that such
                 aspects will therefore not be available for license to CAT in
                 the territory of China in relation to this Agreement.

         1.3     Each party shall give the other the first right to negotiate
                 with regard to commercial applications of the Overall Field
                 and the parties shall conduct good faith negotiations relating
                 to such commercial applications.

         1.4     CAT has obtained rights from Genetech Inc. relating to the
                 Cabilly patent.  If a license to the Cabilly patent is
                 required for the performance of this Agreement, CAT will use
                 one of its options for a Cabilly license for anti-histone
                 antibodies, if this is the most cost-effective route for
                 obtaining such a license.


2.       MANAGEMENT OF THE PROJECT

         2.1     The parties shall establish a Business Committee and a
                 Scientific Committee, each of which shall comprise an equal
                 number of representatives (not exceeding three (3) in each
                 case) from each party.

         2.2     The Business Committee:

                 (a)      shall be responsible for the management of the
                          project, contemplated by this Agreement;
                 (b)      shall decide, in consultation with the Scientific
                          Committee, which cell-lines shall be Designated
                          Cell-lines as soon as reasonably practicable after
                          TCLN has completed its evaluation of any such
                          cell-lines pursuant to sub-clause 3.2(a) below;
                 (c)      in consultation with the Scientific Committee, shall
                          decide which Products (if any) shall be developed,
                          manufactured and/or licensed with a view to
                          commercial sale;
                 (d)      shall be responsible for the timing and conduct of
                          third-party negotiations relating to licensing of or
                          other transactions connected with Products; and
                 (e)      shall decide what if any intellectual property
                          protection should be sought for Improvements;

         2.3     Any decision of the Business Committee shall be, if not
                 unanimous, by a majority.

         2.4     If in the opinion of the Business Committee any Product would
                 benefit from intellectual property protection, the Business
                 Committee shall meet to review the most appropriate approach
                 to be taken to obtaining that protection.

         2.5     The Scientific Committee shall act in an advisory capacity to
                 the Business Committee.

         2.6     Either party may make substitutions to the membership of
                 either Committee on notice to the other.





                                        8

<PAGE>   4
         2.7     Each Committee shall meet at least twice a year at locations
                 to be mutually agreed not less than thirty (30) days before
                 each meeting.  Meetings shall be more frequent in
                 circumstances referred to elsewhere in this Agreement.  Each
                 party shall bear the expenses associated with its own members'
                 attendance at any such meetings.


3.       OBLIGATIONS OF THE PARTIES

         3.1     CAT shall at its expense:

                 (a)      use all reasonable endeavors to isolate human
                          Antibodies at least  equivalent in terms of affinity
                          and specificity to the murine antibodies known as
                          TNT1, TNT2 and TNT3;
                 (b)      within two (2) years of the Effective Date use all
                          reasonable endeavors to construct mammalian
                          cell-line(s) suitable for the production of human
                          antibodies (if any) isolated pursuant to sub-clause
                          3.1(a) above;
                 (c)      supply to TCLN cell-lines constructed pursuant to
                          sub-clause 3.1(b) above; and
                 (d)      provide the Business Committee with any information
                          it may reasonably request to assist in evaluation of
                          any cell-line for designation as a Designated
                          Cell-line.

         3.2     TCLN shall at its expense as soon as reasonably practicable
                 after the provision of any cell-line to it by CAT:

                 (a)      evaluate that cell-line as a candidate for a
                          Designated Cell-line and provide the Business
                          Committee with any information it may reasonably
                          request to assist in evaluation of any cell-line for
                          designation as a Designated Cell-line;
                 (b)      within one (1) year of the designation of any
                          cell-line as a Designated Cell-line develop
                          manufacturing process(es) in eukaryotic cells from
                          such Designated Cell-lines; and
                 (c)      manufacture sufficient quantities of human Antibodies
                          from Designated Cell-lines to allow toxicological
                          testing and the performance of Phase I and Phase II
                          clinical trials.

         3.3     If CAT and TCLN agree to develop any Product through Phase III
                 clinical trials, then TCLN agrees to manufacture and supply
                 sufficient quantities of Product for the Phase III clinical
                 trials at its Direct Cost.  CAT and TCLN agree to fund TCLN's
                 Direct Cost in the same percentage as their percentage of
                 ownership.

         3.4     Any Designated Cell-line will have a specific production rate
                 of at least ten (10) picograms per cell per day determined in
                 a standard assay.

         3.5     Both parties shall fund fifty percent (50%) each of the cost
                 of external work necessary for the performance of this
                 Agreement, such work to include (without limitation) the cost
                 of any necessary work to be done in Dr Alan Epstein's





                                        9

<PAGE>   5
                 laboratory in connection with the Field and clinical trials as
                 decided by the Business Committee.

         3.6     Both parties shall prosecute and maintain protection for the
                 Intellectual Property for which it is responsible and each
                 party shall bear fifty percent (50%) of the cost of applying
                 for and maintaining any intellectual property protection in
                 relation to Improvements.


4.       MANUFACTURING OF PRODUCTS

         4.1     TCLN shall have and retain the manufacturing rights for
                 Products in mammalian cells.  TCLN shall at its expense make
                 all necessary arrangements to allow it so to manufacture
                 Products, including without limitation obtaining any necessary
                 licenses required from third parties.

         4.2     In the absence of prior express written agreement,
                 manufacturing costs for each Product shall be the greater of
                 (i) a minimum of twenty-three percent (23%) of the Net Selling
                 Price of the relevant Product, including any royalties payable
                 to third parties to allow manufacture of Products by TCLN, or
                 (ii) the average of the industry standard for similar
                 products.

         4.3     Notwithstanding anything else contained in this Agreement,
                 TCLN shall lose manufacturing rights if a third party is able
                 to commit, prior to Phase III clinical trials, to
                 manufacturing for less than or equal to half the cost of
                 TCLN's cost of manufacture of the relevant Product and TCLN is
                 unwilling to meet such commitment.

         4.4     TCLN shall be solely liable for any and all claims which arise
                 from manufacturing of the Product.  Except for its liability
                 as a manufacturer, TCLN shall be jointly liable with CAT for
                 any claims arising from the Products.  Such liability shall be
                 in proportion to TCLN's interest in this venture.  TCLN shall
                 maintain appropriate product liability insurance in relation
                 to the Products and shall make such policy of insurance
                 available to CAT for inspection on request.

         4.5     If any Product requires manufacture in non-mammalian cells,
                 the parties shall each fund fifty percent (50%) of the cost of
                 development of processes and manufacture.  Neither party shall
                 have manufacturing rights in these circumstances.


5.       OWNERSHIP OF PRODUCTS AND REVENUE SHARING

         5.1     Except for TCLN's right to manufacture the Products, each
                 party shall own a fifty-percent (50%) share of each Product,
                 it being agreed that the contributions of the parties under
                 clause 3 above are of equivalent value.

         5.2     If in the opinion of either party any Product is patentable,
                 that party shall notify the other of its opinion.  The parties
                 shall then meet to agree the appropriate course of action in
                 relation to that Product.





                                        10

<PAGE>   6
         5.3     If either party decides to sell, grant an exclusive license or
                 otherwise transfer their ownership of the Product, then, prior
                 to any such transfer, the party proposing to transfer
                 ownership (the "Transferring Party") must offer the other
                 party to this Agreement (the "Non-Transferring Party") the
                 right to acquire the ownership of the Product at the same
                 price and on the same terms and conditions as the Transferring
                 Party as have been offered by the Transferring Party to a
                 third party transferee (the "Third Party Transferee").  If the
                 Non-Transferring Party and the Third Party Transferee decline
                 to accept such offer and the Transferring Party changes the
                 price or the terms of such offer, then the Transferring Party
                 shall again offer the Non- Transferring Party the right to
                 purchase the ownership of the Product at the price and on the
                 same terms and conditions as the Transferring Party is now
                 offering.

         5.4     After the obligations referred to in clause 3 above have been
                 satisfied, if either party during Phase I and Phase II
                 clinical trials declines or is unable to continue to
                 contribute to the development of a Product ("the Declining
                 Party"), then except for TCLN's manufacturing rights, the
                 other party shall own the development and/or sale of the
                 relevant Product ("Ownership Party") and the Declining Party
                 shall be deemed to have granted any necessary licenses or
                 other intellectual property rights as may be required by the
                 other party.

         5.5     The Ownership Party must use its most reasonable business
                 efforts to develop the Product.  If the Ownership Party fails
                 to use its most reasonable business efforts to develop the
                 Product or discontinues developing the Product, the Declining
                 Party will have its ownership of the Product reinstated in the
                 proportion that the Declining Party's financial contribution
                 to the development of the specific Product bears from time to
                 time to the total financial contribution made by both parties
                 to the development of the specific Product.

         5.6     The revenue sharing percentage of the Declining Party in
                 relation to specific Products shall, for the balance of the
                 duration of this Agreement, be reduced pro-rata to the
                 proportion that the Declining Party's financial contribution
                 to the development of the specific Product bears from time to
                 time to the total financial contribution made by both parties
                 to the development of the specific Product; provided, however,
                 that the revenue sharing percentage shall not be reduced to
                 less than twenty-five percent (25%) of what it would have
                 otherwise been.

         5.7     Except as provided for in sub-clause 5.8 below, both parties
                 shall share equally in any revenues (including without
                 limitation sales revenues and licensing fees) generated by any
                 Products.

         5.8     In the event that TCLN is manufacturing the Product(s), CAT
                 shall be entitled to receive and/or retain Net Royalties to
                 the extent of five percent (5%) of the Net Selling Price of
                 any Product(s).  TCLN shall be entitled to receive and/or
                 retain Net Royalties in excess of five percent (5%) of the Net
                 Selling Price of any Product(s) and up to ten percent (10%) of
                 the Net Selling Price of any Product(s).  The parties shall
                 share equally Net Royalties in excess of ten percent (10%) of
                 the Net Selling Price of Product(s).





                                        11

<PAGE>   7
         5.9     The parties shall account to each other within thirty (30)
                 days of 31 December and 30 June in each calendar year
                 beginning with the calendar year of the first receipts
                 pursuant to sub-clause 5.7 or 5.8 above (as the case may be)
                 by either party and, if either party owes any revenue share to
                 the other, such amount shall be paid within thirty (30) days
                 of the accounts referred to in this sub-clause having been
                 rendered by both parties.

         5.10    Either party may, not more than once in each calendar year in
                 which accounts are rendered pursuant to sub-clause 5.9 above,
                 have audited at a mutually convenient time by an independent
                 accountant bound by acceptable provisions as to
                 confidentiality, the books of account and records kept by the
                 other party in relation to revenues receivable contemplated by
                 this Agreement.  Should any adjustment be found to be
                 necessary, the sum due shall be remitted by the appropriate
                 party within thirty (30) days of the conclusion of the
                 relevant audit.

         5.11    In the event that either party to this Agreement desires to
                 acquire the marketing rights, such party shall make an offer
                 to this venture to obtain such marketing rights.  The offer
                 shall contain the terms, conditions and consideration offered
                 by the offering party to obtain the marketing rights.  Upon
                 the joint venture receiving this offer, the parties hereto
                 agree that the non-offering party is afforded the right to
                 obtain the marketing rights pursuant to the terms, conditions
                 and for the consideration offered by the other party.  If the
                 non-offering party declines to obtain the marketing rights,
                 then the offering party may obtain the marketing rights from
                 this venture on the terms, conditions and for the
                 consideration proposed.


6.       PROVISIONS RELATING TO INTELLECTUAL PROPERTY

         6.1     During the term of this Agreement, neither party shall work
                 with any third party on the subject-manner of this Agreement,
                 nor shall it make available to any third party any license
                 relating to the Field without the express prior written
                 consent of the other.

         6.2     If either party becomes aware that any intellectual property
                 rights relating to the Intellectual Property are being
                 infringed by a third party, that party shall inform the
                 Business Committee accordingly.  The Business Committee shall
                 meet as soon as possible to review what action should be taken
                 in respect of such infringement.


7.       CONFIDENTIALITY AND PUBLICITY

         7.1     Each party undertakes to treat any and all confidential
                 information communicated to it by the other party as strictly
                 confidential and not to divulge it to any third party for any
                 purpose whatsoever and not to make use of such information or
                 any part of it for any purpose other than for the performance
                 of this Agreement.

         7.2     The undertakings in sub-clause 7.1 above shall not apply to:





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<PAGE>   8
                 (a)      information that at the time of disclosure is
                          published or otherwise generally available to the 
                          public;
                 (b)      information which after disclosure by the discloser
                          is published or otherwise becomes generally available
                          to the public, otherwise than through any act or
                          omission on the part of the recipient;
                 (c)      information that the recipient can show was in its
                          possession at the time of disclosure and which was
                          not acquired directly or indirectly from the
                          discloser; or
                 (d)      information rightly acquired from others who did not
                          obtain it under a pledge of secrecy to the discloser.

         7.3     Except as required by law, neither party may disclose the
                 terms of this Agreement without the prior written consent of
                 the other, such consent not to be unreasonably withheld.
                 Either party shall have the right to issue a press release or
                 other public statement concerning this Agreement provided that
                 the content of such release or statement has first been agreed
                 by the other party, such agreement not to be unreasonably
                 withheld or delayed.


8.       DURATION AND TERMINATION

         8.1     Unless terminated earlier in accordance with any of the other
                 provisions of this clause 8, this Agreement shall expire with
                 the last to expire of the Techniclone Patents or any patents
                 relating to Improvements or fifteen years from the Effective
                 Date, which ever is the latest.

         8.2     Either party may terminate this Agreement immediately on
                 notice to the other if the other party is in irremediable
                 breach of any of the provisions of this Agreement or, if the
                 breach can be remedied, it is not remedied within thirty (30)
                 days after the giving of notice to remedy.

         8.3     Either party may terminate this Agreement on notice to the
                 other if the other goes into administration, receivership or
                 liquidation (or any analogous proceedings in the appropriate
                 jurisdiction) other than liquidation for the purposes of
                 reconstruction or amalgamation.

         8.4     Termination of this Agreement shall be without prejudice to
                 any rights or either party that have accrued prior to such
                 termination.


9.       GENERAL PROVISIONS

         9.1     Any notices to be given under this Agreement shall be in
                 writing and shall be delivered in person, by first class
                 registered mail or by facsimile.  Notices delivered in person
                 shall be effective on receipt, by mail seven days after
                 posting and by facsimile, at the beginning of the working day
                 immediately following transmission.

         9.2     The waiver of any right by either party shall not constitute a
                 continuing waiver of the right waived.





                                        13

<PAGE>   9
         9.3     This Agreement shall not be capable of assignment by either
                 party without the prior written consent of the other, except
                 that either party may assign this Agreement in whole or in
                 part to any purchaser of all or substantially all of its
                 assets or to any successor corporation resulting from any
                 merger or consolidation of such party with or into such
                 corporations.

         9.4     Neither party shall be liable for failure to perform any of
                 its obligations under this Agreement if such failure is due to
                 circumstances beyond that party's control.  Performance of any
                 such obligation shall be suspended for the duration of the
                 circumstances beyond that party's control, after which the
                 party affected shall be obliged to fulfil its obligations so
                 suspended.

         9.5     If any provision of this Agreement is found to be invalid by a
                 court of competent jurisdiction, the remaining provisions
                 shall continue to be fully effective.

         9.6     The parties shall attempt to resolve any dispute or difference
                 between them arising out of this Agreement by negotiation.
                 Should such attempted resolution be unsuccessful, the parties
                 agree to refer the dispute or difference to an alternative
                 dispute resolution procedure (including, without limitation,
                 mediation or arbitration) before having recourse to
                 litigation.

         9.7     Clause headings are for ease of reference only and shall not
                 affect the interpretation of this Agreement.

         9.8     This Agreement embodies the entire agreement between the
                 parties relating to the subject-matter covered by it.

         9.9     This Agreement shall be governed by English Law.


         IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
February 5, 1996.


                          "TCLN"  TECHNICLONE INTERNATIONAL CORPORATION


                                        By:   /s/ LON STONE 
                                            ---------------------------
                                            Lon Stone 
                                            Its: President


                          "CAT"   CAMBRIDGE ANTIBODY TECHNOLOGY LIMITED


                                        By:   /s/ DAVID CHISWELL 
                                            ---------------------------
                                            David Chiswell 
                                            Its:  Chief Operating Officer





                                        14



<PAGE>   1
                                                                EXHIBIT 99.1


                              SUMMARY:  TECHNICLONE AND CAMBRIDGE ANTIBODY 
                                        TECHNOLOGY ANNOUNCE JOINT VENTURE 
                                        TO DEVELOP AND COMMERCIALIZE NEW 
                                        PRODUCTS FOR CANCER THERAPY DIAGNOSIS.



DATE:    February 6, 1996



         TUSTIN, CA -- Techniclone International Corporation (OTC BULLETIN
BOARD: TCLN), a biotechnology company engaged in the research and development
of drug delivery systems based on monoclonal antibodies (MAb's), and Cambridge
Antibody Technology Ltd. (CAT), a privately held company established by
Britain's Medical Research Council, today announced the creation of a
commercial venture to develop and market an entirely new class of products for
cancer therapy and diagnosis.

         The agreement calls for the combination of CAT's patented technology
for producing fully human MAb's with Techniclone's patented Tumor Necrosis
Technology (TNT).  CAT technology generates MAb's that are fully compatible
with the human immune system.  TNT technology uses MAb's in a new way by
anchoring the "payload" (i.e., a readioactive isotope or chemotherapy drug to
the necrotic core of solid tumors, thereby permitting destruction of tumors
from the inside-out without damaging surrounding healthy tissue.

         Dr. David Chiswell, CAT's chief operating
 officer, stated, "We view
Techniclone's TNT as an innovative, platform technology which could play a
crucial role in the creation of new diagnostic and therapeutic products in both
the cancer and non-cancer markets.  Early results indicate that TNT may be a
universal delivery system capable of penetrating to the interior of solid
tumors across a broad spectrum of cancer types.

         "The extraordinary synergy achieved with CAT in this joint venture
represents a crucial milestone in the development of our TNT product pipeline,"
said Lon H. Stone, Techniclone's chairman and CEO.  "With its unequaled gene
libraries, two Nobel laureates and its state-of-the-art technologies for
producing fully human antibodies, CAT is truly the crown jewel of England's
prestigious monoclonal antibody industry."

         Stone further commented, "In early clinical and pre-clinical studies,
TNT, when used in combination with Techniclone's other patented technologies,
dramatically enhances the uptake of drugs and isotopes within the tumor by 500%
to 800%.  This is important because the key to effectiveness of any drug is
based on the concentration delivered to the targeted tissue."

         In addition, TNT appears to be the only MAb delivery system that is
universally effective against a broad spectrum of cancer types, including lung,
colon, breast, prostate and pancreatic cancers.





                                        15

<PAGE>   2
         "This feature of TNT is, by itself, a major breakthrough in that one
molecule can now serve as the platform for multiple products in different
cancer markets," said Stone.  "We expect the TNT delivery system will result
in a multi-layered licensing program where pharmaceutical companies will
acquire TNT rights to enhance the efficacy of their own diagnostic and
therapeutic products."

         The joint venture will conduct clinical studies concurrently in both
the United States and Europe.  Clinical studies should proceed rapidly in
England under the UK government's special arrangements for expediting clinical
trials of promising new therapies for cancer.

         Terms of the agreement provide that equity in the joint venture will
be owned equally by Techniclone and CAT, with both companies making equal
capital investments.  Techniclone will retain exclusive, world-wide
manufacturing rights.  The joint venture may conduct direct marketing of one or
more of the TNT products.  Marketing rights may also be licensed as regulatory
approvals are obtained.

         "CAT is also attracted to Techniclone because of its GMP
cell-culturing capabilities in California and its new GMP radio-labeling
facility in Oklahoma," added Chiswell.  "Techniclone's experience, demonstrated
by its Oncolym(TM) product, will facilitate rapid clinical development of the
full spectrum of TNT products."  Oncolym(TM) is a lymphoma therapy now being
studied in a Phase III multi-center clinical trial conducted by Alpha
Therapeutic, the U.S. subsidiary of Green Cross of Osaka, Japan.

         Cambridge Antibody Technology Ltd. was founded in 1989 by Britain's
Medical Research Council, the U.K. equivalent of the U.S. National Institutes
of Health.  Dr. Cesar Milstein, who was awarded the Nobel Prize in 1984 for
seminal work on mouse proteins that provided the critical foundation for the
monoclonal antibody industry, is a member of CAT's Scientific Advisory Board.
Building on his original research, Dr. Greg Winter, his colleagues and CAT
scientists have developed powerful new technologies for producing fully human
antibodies.  BASF, Boehringer Mannheim, Genetech, Mitsubishi Chemical and
Pfizer are among the companies that have licensed CAT's new core technologies.

         Techniclone International Corporation (OTC BULLETIN BOARD: TCLN) is a
biotechnology company engaged in the research and development of drug delivery
systems based on monoclonal antibodies.  With the commencement of Phase III
trials of the Company's lymphoma therapy product, Oncolym(TM) currently being
studied in a multi-center clinical trial conducted by Alpha Therapeutic, the
Company is now focusing its resources on development of is two most advanced
drug delivery systems, Tumor Necrosis Therapy and Vasopermeation Enhancement,
for the treatment of solid tumors.  The Company recently completed an $8.2
million equity financing, a substantial portion of which will be used to fund
development of these two platform technologies.  The Company has applied for
listing on the NASDAQ.


CONTACT:  Techniclone International             Cambridge Antibody Technology 
          Martin Zabel                          Dr. David Chiswell 
          Investor Contact             -OR-     Chief Operating Officer 
          (212) 866-7733                        44-1763-263233





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