THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS

AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR

TRANSFERRED UNLESS SUCH SALE OR TRANSFER IS IN ACCORDANCE WITH THE REGISTRATION

REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS OR SOME OTHER EXEMPTION FROM THE

REGISTRATION REQUIREMENTS OF SUCH ACT AND APPLICABLE LAWS IS AVAILABLE WITH

RESPECT THERETO.



                          COMMON STOCK PURCHASE WARRANT



                                Warrant No.00-3



                            Number of Shares: 50,000

                              REPLIGEN CORPORATION



                            Void after July 24, 2003



     1. ISSUANCE. This Warrant is issued to The Regents of the University of

Michigan ("UM") on this 24th day of July, 2000 (the "Original Issue

Date") by Repligen Corporation, a Delaware corporation (hereinafter with its

successors called the "Company").



     2. PURCHASE PRICE; NUMBER OF SHARES. Subject to the terms and conditions

hereinafter set forth, the registered holder of this Warrant (the "Holder"),

commencing on the date hereof, is entitled upon surrender of this Warrant with

the subscription form annexed hereto duly executed, at the office of the

Company, 117 Fourth Avenue, Needham, MA 02494, or such other office as the

Company shall notify the Holder of in writing, to purchase from the Company at a

price per share of $7.125 (the "Purchase Price"), 50,000 fully paid and

nonassessable shares of Common Stock, $.01 par value per share, of the Company

(the "Common Stock"). Until such time as this Warrant is exercised in full or

expires, the Purchase Price and the securities issuable upon exercise of this

Warrant are subject to adjustment as hereinafter provided.



     3. PAYMENT OF PURCHASE PRICE. The Purchase Price may be paid in cash or by

certified, cashier's, treasurer's or bank check payable to the order of Repligen

Corporation



     4. PARTIAL EXERCISE. This Warrant may be exercised in part, and the Holder

shall be entitled to receive a new warrant, which shall be dated as of the date

of this Warrant, covering the number of shares in respect of which this Warrant

shall not have been exercised.



     5. ISSUANCE DATE. The person or persons in whose name or names any

certificate representing shares of Common Stock is issued hereunder shall be

deemed to have become the holder of record of the shares represented thereby as

at the close of business on the date this Warrant is exercised with respect to

such shares, whether or not the transfer books of the Company shall be closed.



     6. EXPIRATION DATE. This Warrant shall expire at the close of business on

July 24, 2003, and shall be void thereafter.



     7. RESERVED SHARES; VALID ISSUANCE. The Company covenants that it will at

all times from and after the date hereof reserve and keep available such number

of its authorized shares of Common Stock, free from all preemptive or similar

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