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                                                                    EXHIBIT 99.1

                             [NEOTHERAPEUTICS LOGO]


CONTACTS:
MEDIA RELATIONS                                     INVESTOR RELATIONS
Jon Siegal                                          John McManus
Ronald Trahan Associates (RTA) Inc.                 NeoTherapeutics, Inc.
(508) 647-9782                                      (949) 788-6700


 SOCIETE GENERALE PURCHASES 4% INTEREST IN NEOTHERAPEUTICS' FUNCTIONAL GENOMICS
                SUBSIDIARY, NEOGENE TECHNOLOGIES, FOR $2 MILLION

            FINANCING WILL SUPPORT GENETIC RESEARCH THAT MAY IDENTIFY
                THE "NEXT GENERATION" OF DRUG DEVELOPMENT TARGETS

Irvine, California, December 20, 2000--NeoTherapeutics, Inc. (NASDAQ: NEOT;
NEOTW) today announced that its functional genomics subsidiary, NeoGene
Technologies, Inc. has raised $2 million through the private placement, with
Societe Generale, of preferred stock that is convertible into approximately a 4%
ownership interest. Proceeds from the sale will be used to fund the expansion
and ongoing research activities of NeoGene.

"NeoGene's research team has discovered more orphan receptors than any other
single group in the field of genomics, and this investment by Societe Generale
confirms the intrinsic value of our rapidly developing business," said Dr. Alvin
J. Glasky, Chief Executive Officer of NeoTherapeutics and President of NeoGene.
"This is the second major institutional investment in NeoGene and it is
gratifying to receive the financial backing and confidence from a leading
international financial services firm like Societe Generale. We believe that
this transaction further demonstrates the significant value of NeoTherapeutics'
ownership interest in NeoGene Technologies, and it provides us with additional
resources for the identification of orphan receptors, which can then be used as
targets to develop drugs with the potential to treat neurological, psychiatric
and other disorders."

NeoGene Technologies, Inc. was created in October 1999 by NeoTherapeutics in
collaboration with the University of California, Irvine and Dr. Olivier Civelli,
a world-renowned genomics researcher and pharmacologist and his team. NeoGene is
a functional genomics company that is taking the next step, after the
well-publicized sequencing of the human genome, to study and understand the
functions of individual genes. NeoGene's research is aimed at the discovery of
the function of a large set of genes known as "orphan receptors." These
receptors act as "locks" that control various processes within the cells to
which they are attached. NeoGene's proprietary technology identifies the
biological agent that acts as key for each orphan receptor and therefore
"unlocks" the biochemical process of that cell. Once the actual process unlocked
is analyzed and understood, it can be used as a target for the development of
next generation drugs. NeoGene's research team has already "unlocked" receptors
that may enable the treatment of epilepsy, hypertension and obesity.


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Societe Generale purchases a 4% interest in NeoTherapeutics' functional genomics
subsidiary
December 20, 2000
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The institutional investors received 7% convertible preferred stock in NeoGene
and 5-year warrants to purchase up to an additional 0.8% of NeoGene common stock
that, if exercised for cash, could raise approximately $400,000. In addition,
the investors were granted 5-year warrants to purchase 30,000 shares of
NeoTherapeutics common stock at an exercise price of $6.10 per share. The
NeoGene preferred stock is convertible into NeoGene common stock automatically
upon the closing of a NeoGene public offering that meets certain criteria. Under
certain circumstances, the investors have the right to exchange the convertible
preferred stock of NeoGene for convertible preferred stock of NeoTherapeutics.

NEOTHERAPEUTICS is a biopharmaceutical company focused on the development of
small molecule drugs for unmet medical needs for the treatment of important
diseases. The Company's most advanced drug, Neotrofin(TM), is currently being
developed for Alzheimer's disease and other neurodegenerative diseases, such as
Parkinson's disease and Spinal Cord Injury. In animal models of cognitive
decline, aging and spinal cord injury, Neotrofin(TM) has been shown to restore
neurological function. NEOGENE TECHNOLOGIES, Inc., a subsidiary of
NeoTherapeutics, is engaged in functional genomics research. NEOONCORX, Inc., a
subsidiary of NeoTherapeutics, is engaged in the development of anticancer
drugs. For additional Company information, visit NeoTherapeutics' web site at
www.neotherapeutics.com.

This press release may contain forward-looking statements regarding future
events and the future performance of NeoTherapeutics that involve risks and
uncertainties that could cause actual results to differ materially. These risks
are described in further detail in the Company's reports filed with the
Securities and Exchange Commission.