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                CORIXA CORPORATION OBTAINS $50 MILLION FINANCING
           FUNDS INTENDED TO STRENGTHEN CONSOLIDATION GROWTH STRATEGY

SEATTLE, WASH. -- APRIL 9, 1999 -- Corixa Corporation (Nasdaq: CRXA), a
research-based biotechnology company, today announced that it has entered into
an agreement with Castle Gate, L.L.C., a Northwest investment partnership
focusing primarily on health care and biomedical companies, to provide the
company with up to $50 million of equity capital under a credit line. The equity
line of credit may be drawn upon over a two-year period with an initial draw of
$12.5 million completed upon execution of the agreement. The structure of the
financing allows Corixa to draw funds at its option for the purpose of adding to
its technology and product portfolio, while managing the impact to existing
shareholders. The combination of total funds from this financing and existing
cash balances provides Corixa with close to $100 million to support its ongoing
operations as well as its continued pursuit of complementary technologies and
products.

"An unprecedented opportunity for product acquisition and consolidation now
exists due to a lack of institutional investor support of small cap
biotechnology companies. This financing enables Corixa to continue to pursue
multiple technology or company acquisitions that further drive the expansion of
our technology base and product pipeline in the fields of cancer, and infectious
and autoimmune diseases," stated Steven Gillis, Ph.D., chairman and chief
executive officer of Corixa. "Funds provided from this line of credit are likely
to be used to help underwrite incremental expenses that the company might face
as a result of consolidation of other companies or future immunotherapeutic
product lines. The funding provides us with the means to both acquire new
products and fund their ongoing operations, while maintaining a considerable
cash reserve to support our existing business."

At closing, Corixa issued 12,500 shares of Series A Preferred Stock priced at
$1,000 per share. Each share is convertible into Corixa Common Stock at a fixed
exchange rate of $8.50 per share. Any shares of Series A Preferred Stock that
may be purchased by Castle Gate L.L.C. in the future will be convertible into
Corixa Common Stock at a fixed price equal to the average closing price of
Corixa common stock for a period before and after the date Corixa draws upon the
equity line. Prior to the draw of additional funds, shareholder approval will be
required. Dividends on the Series A Preferred Stock will accrue at a rate of 5%
per year and may be paid in Corixa Common Stock or cash at the Company's option.
As part of the private placement, the purchaser will be issued Warrants for the
purchase of Corixa Common Stock at a purchase price determined using an
averaging mechanism similar to that used in the conversion of the Series A
Preferred Stock.

ABOUT CORIXA

Corixa Corporation (Nasdaq: CRXA) is a research-based biotechnology company
committed to saving lives and preventing diseases by understanding and directing
the immune system. Corixa applies its advanced immunological expertise and
proprietary technology platforms to rapidly discover and optimize vaccines and
other antigen-based products. The company partners with innovative developers
and marketers of pharmaceuticals and diagnostic products to make its solutions
available to patients around the world. Corixa was founded in 1994 and is
headquartered in Seattle, Washington. For more information about the company,
please visit its Website at www.corixa.com.

FORWARD-LOOKING STATEMENTS

Except for the historical information presented, the matters discussed in this
press release are forward-looking statements that are subject to certain risks
and uncertainties that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by such
statements. Such risks and uncertainties include the dilutive effect of equity
purchases by Castle Gate L.L.C. to other Corixa shareholders, the need to obtain
the approval of Corixa shareholders in the future in order to obtain additional
funding under the terms of the equity line of credit, the failure by Corixa to
expand its technology base or product pipeline through focused acquisitions,
possible delays or failure by Corixa to develop and/or commercialize any
technology that may be acquired as a result of this financing, possible risks
related to adverse clinical results as potential products incorporating such
technology move into clinical trials, impact of alternative technological
advances and competition, inherent risks in early stage development of the
company's technology and potential products, and other risks detailed from time
to time in Corixa's public disclosure filing with the U.S. Securities and
Exchange Commission (SEC), including the Annual Report on Form 10-K for the
fiscal year ended December 31, 1998, and 

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in the Company's Registration Statement on Form S-4, as amended and filed on
January 12, 1999. Copies of Corixa's public disclosure filings with the SEC are
available from its investor relations department.