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IMUTEC FILES FINAL PROSPECTUS TSE CONDITIONALLY APPROVES IMUTEC COMMON SHARE LISTING

 TORONTO, May 28 /PRNewswire/ -- IMUTEC Corporation announced today that it has received a receipt from the Ontario Securities Commission for a final prospectus dated May 26, 1993 relating to the issuance of 1,900,000 common shares at $3.00 per share. First Marathon Securities Limited is acting as agent in connection with the offering on a best efforts basis.
 Net proceeds from the offering in the amount of $5,097,250 will supplement the Company's existing cash resources and will be used to expand and accelerate clinical trials at Canadian and international medical centers, to fund scientific development programs and to conduct further testing and clinical trials of products developed from the Company's technology in the treatment of diseases.
 The Company also announced that the Toronto Stock Exchange has conditionally approved the listing of the Company's common shares, including common shares from the offering, subject to the Company fulfilling all of the requirements of the TSE, including the completion of the offering. Closing is expected to take place on June 4, 1993. IMUTEC's common shares are also listed on NASDAQ and are currently listed on the Canadian Dealer Network System.
 IMUTEC is a biotechnology company using its proprietary technology to develop and commercialize naturally derived immunologic biopharmaceuticals for use in the treatment of disease. To date, IMUTEC has applied its technology to produce VIRULIZIN(TM), a potential new drug for the treatment of cancer. VIRULIZIN(TM) is currently undergoing Phase II clinical trials at ten North American medical centers.
 -0- 5/28/93
 /CONTACT: David W. Cooke, Director of Corporate Development, of IMUTEC Corporation, 416-724-1100, Voice mail extension 227, 1-800-561-9400, or Fax: 416-724-1167/
 (IMUT.)


CO: IMUTEC Corporation ST: Ontario IN: MTC SU: OFR

LR -- NY017 -- 3320 05/28/93 10:15 EDT
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Publication:PR Newswire
Date:May 28, 1993
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