EXHIBIT 99.1

                           Press Release dated July 1, 1997                   


                                                                   EXHIBIT 99.1

CONTACT:
Carolyn Underwood                      Douglas MacDougall
Vice President, Marketing &            Feinstein Kean Partners
  Investor Relations                   (617) 577-8110
Triangle Pharmaceuticals, Inc.              
(919) 493-5980


FOR IMMEDIATE RELEASE:
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               TRIANGLE PHARMACEUTICALS AGREES TO ACQUIRE AVID CORP.

        -- TRIANGLE TO ADD A PROTEASE INHIBITOR TO ITS ANTI-HIV PORTFOLIO -- 

DURHAM, NC, JULY 1, 1997 -- Triangle Pharmaceuticals, Inc. (Nasdaq: VIRS) has 
signed an agreement to acquire Avid Corporation, a private, antiviral 
pharmaceutical company.  This acquisition will provide Triangle access to a 
novel protease inhibitor to complement its portfolio of anti-HIV compounds.

If the acquisition is completed, Triangle will pay $1,250,000 cash and 
400,000 shares of Triangle Common Stock, plus up to an additional 2,100,000 
shares of Triangle Common Stock contingent upon the attainment of certain 
development milestones.  Triangle currently expects the acquisition to be 
completed by August 30, 1997.  The closing of the acquisition is subject to 
conditions that must be satisfied.

Avid's principal assets consist of worldwide license rights to a protease 
inhibitor for the treatment of HIV infection (DMP-450), early, preclinical 
stage compounds for the treatment of Hepatitis B virus (HBV) infection, 
proprietary assays to screen drug candidates for the treatment of HBV and 
assay technology for the potential use is screening drug candidates for the 
treatment of Hepatitis C virus (HCV) infection. 

"The addition of a protease inhibitor will enhance the breadth of our 
anti-HIV portfolio which includes three nucleoside reverse transcriptase 
inhibitors and one non-nucleoside reverse transcriptase inhibitor," stated 
David W. Barry, M.D., Chairman and Chief Executive Officer of Triangle 
Pharmaceuticals, Inc. "DMP-450, which belongs to a novel chemical class and 
appears to have good bioavailability, is entering into Phase Ib/IIa 
multi-dose clinical trials. Avid's HBV and HCV technology will also give 
added depth to our programs to treat these serious and widespread diseases."

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"The development of DMP-450 and the hepatitis technology will result in an 
increase in our development expenses and operating losses," said M. Nixon 
Ellis, President of Triangle.  "We will, however, work together to achieve 
optimal synergies, integrate and streamline overlapping functions and control 
expenditures that should eventually include the consolidation of operations 
in Durham, North Carolina."

Triangle Pharmaceuticals, Inc., based in Durham, North Carolina, is engaged 
in the development of new drug candidates primarily in the antiviral area, 
with a particular focus on therapies for the human immunodeficiency virus, 
including the acquired immunodeficiency syndrome, and hepatitis B virus.  
Prior to their employment with the Company, members of the Company's 
management team played instrumental roles in the identification, clinical 
development and commercialization of several leading antiviral therapies.

Avid Corporation, located in Philadelphia, PA, is a privately held 
pharmaceutical company focused on the development of drug candidates to 
combat viral diseases. 

Statements in this press release may constitute forward-looking statements 
and are subject to numerous risks and uncertainties, including the failure to 
complete the acquisition of Avid, the Company's ability to successfully 
develop and commercialize compounds acquired from Avid, proprietary rights 
relating to Avid's technology, the failure to successfully complete pivotal 
clinical trials, the Company's future capital needs, the Company's ability to 
obtain additional funding and required regulatory approvals, the development 
of competitive products by others, and other risks detailed from time to time 
in the Company's filings with the Securities and Exchange Commission.  The 
actual results may differ materially from those projected in the 
forward-looking statements.  The Company disclaims any obligation to update 
these forward-looking statements. 

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