Exhibit 99.1
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                              N E W S  R E L E A S E

               APHTON ANNOUNCES RECEIPT OF GROSS PROCEEDS OF $3.6
                        MILLION FOR SALE OF COMMON STOCK

                                December 6, 2002

Miami, FL - Aphton Corporation (Nasdaq: APHT) announced today that the Company
received the funds and sold 1,520,000 shares of registered common stock at
$2.375 per share for gross proceeds of $3,610,000 in a transaction. Life Science
Group, Inc. acted as placement agent in connection with the transaction.

The proceeds of the financing will be used for general corporate purposes,
including to fund Aphton's on-going clinical trials and operations while Aphton
negotiates with one or more strategic partners to structure a worldwide
agreement that could provide substantial funds to Aphton, immediate and over
time, if and when negotiations are successfully concluded.

A registration statement relating to these securities has been filed with and
declared effective by the Securities and Exchange Commission. 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.

Aphton Corporation is a biopharmaceutical company in one Phase III and three
Phase II clinical trials developing products using its innovative vaccine-like
technology for neutralizing hormones that participate in gastrointestinal system
and reproductive system cancer and non-cancer diseases worldwide. Aphton has
several strategic alliances including strategic alliances with Aventis Pasteur
(NYSE: AVE) for treating gastrointestinal system and other cancers with G17DT in
North America and Europe; and GlaxoSmithKline (NYSE: GSK) for reproductive
system cancer and non-cancer diseases worldwide; and others.

Except for the historical information herein, the matters discussed herein are
forward-looking statements that involve a number or risks and uncertainties and
are not a guarantee of future performance. Future results may vary significantly
based on a number of factors including, but not limited to, intellectual
property risks, risks in regulatory and market acceptance of new products and
continuing demand for same, the impact of competitive products and pricing,
changing economic conditions and other risk factors that are inherent in the
drug development process and the company's business including those set forth in
Aphton's most recent 10-K and other filings with the Securities and Exchange
Commission. It is not possible to predict or identify all such risk factors that
could cause actual results to differ from expected or historical results. The
company's actual results could differ from these forward-looking statements and
the company undertakes no obligation to update publicly any forward-looking
statement, except as may be required under applicable securities law.

Contact: Aphton Corporation; Investor Relations, J.L. Whitmore, 305-374-7338.