BioCancell Therapeutics announces auction of common stock

BioCancell Therapeutics Inc. (TASE: BICL) today announced that, pursuant to an effective registration statement on Form S-1 filed with the Securities and Exchange Commission, it intends to hold an auction in Israel on Thursday, November 18, 2010, for the sale of up to 617,000 units consisting, in the aggregate, of up to 6,170,000 shares of common stock, par value $0.01 per share, 3,085,000 Series 3 warrants and 3,085,000 Series 4 warrants.

The auction will commence at 3:15 p.m. Israel time on Thursday, November 18, 2010, and will close at 5:00 p.m. on the same day. To participate in the auction, investors must submit their bids to authorized entities, as more fully described in the prospectus.