FOR IMMEDIATE RELEASE

                                                                    Exhibit 99.1
                                                                    ------------



Company Press Release

SOURCE:  Hybridon, Inc.

Hybridon Announces Satisfaction of the Minimum 20 Unit
Private Placement Offering Amount

CAMBRIDGE, Mass., Jan. 23/PRNewswire/-- Hybridon, Inc. (OTC Bulletin Board: HYBN
- - news) today announced it has satisfied the 20 Unit minimum offering  threshold
for the private placement announced by the Company yesterday.

Hybridon, headquartered in Cambridge, Massachusetts, is engaged in the discovery
and  development  of genetic  medicines for the  treatment of certain  diseases,
based primarily on antisense  technology.  Antisense  technology attempts to use
synthetic  segments of DNA and RNA to stop the production of  disease-associated
proteins by  interacting  at the genetic level with target  strands of messenger
RNA.


SOURCE:  Hybridon, Inc.