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BIOMIRA ANNOUNCES COMPLETION OF PUBLIC OFFERING

 BIOMIRA ANNOUNCES COMPLETION OF PUBLIC OFFERING
 EDMONTON, Alberta, Dec. 18 /PRNewswire/ -- Biomira Inc. today


announced the completion of its previously announced public offering of 4,000,000 common shares. In addition, the company announced that the underwriters exercised in full the over-allotment option of 360,000 common shares granted to them, which closed concurrently with the closing of the offering.
 At the closing, Biomira issued an aggregate of 4,360,000 common shares. Of these shares, 1,540,000 were sold through a Canadian underwriting syndicate led by ScotiaMcLeod Inc. at Cdn$12.50 per share, 1,540,000 were sold through a U.S. underwriting syndicate led by ScotiaMcLeod (USA) Inc. at US$11.00 per share, and 1,280,000 were issued to a principal shareholder and its affiliate at Cdn$12.50 per share.
 The gross proceeds of this cross-border public offering are approximately Cdn$54,500,000.
 Biomira Inc. is a public biotechnology company focused on the research, development and commercialization of cancer diagnostic and therapeutic products. The firm, located in Edmonton Research Park, currently markets four "in vitro" diagnostic kits for gastrointestinal, ovarian and breast cancers under the Truquant(R) label. A number of its "in vivo" products are in various stages of clinical trials.
 -0- 12/18/91
 /CONTACT: James E. Devaney, vice president-finance, or T.A. (Alex) McPherson, M.D., Ph.D., president and chief executive officer of Biomira, 403-450-3761/ CO: Biomira Inc. ST: Alberta IN: MTC SU: OFR


GK -- NY019 -- 3333 12/18/91 10:33 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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