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BIOMIRA INC. ANNOUNCES COMPLETION OF CANADIAN PUBLIC OFFERING

 EDMONTON, Alberta, Dec. 2 /PRNewswire/ -- Biomira Inc. (NASDAQ: BIOMF) (TSE, ME: BRA) today announced the completion of its $20 million public offering in Canada of 2 million shares of common stock priced at $10.00 Canadian per share. The offering resulted in net proceeds to the company of $18.9 million (Canadian).
 The shares were offered to the Canadian public markets through a Canadian syndicate led by RBC Dominion Securities Inc., which included ScotiaMcLeod Inc. and Nesbitt Thomson Inc. The shares sold in the Canadian offering will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
 Effective with the completion of this offering on Dec. 2, 1993, Biomira will have 21,322,537 shares of common stock outstanding.
 The net proceeds of the offering will be used to fund ongoing development of the company's products, including the cost of clinical trials and expenses associated with regulatory approvals relating to the company's products.
 Biomira Inc. is a biotechnology company dedicated to the development of products to diagnose and treat cancer. It is refining its technology in the areas of active specific immunotherapy, radioimmunoimaging and radioimmunotherapy. Biomira holds a significant interest in HealthVISION Corp. of Vancouver, and ADI Diagnostics Inc. of Toronto. ADI manufactures and distributes Biomira's TRUQUANT(R) cancer diagnostic kits.
 -0- 12/2/93
 /CONTACT: Jane Jack, Investor Relations Coordinator, Biomira Inc., 403-490-2812 or; Mark J. Brand, Media Relations (U.S.), Pondel Parsons & Wilkinson, 310-207-9300/
 (BIOMF)


CO: Biomira Inc. ST: Alberta IN: MTC SU: OFR

EH -- LA016 -- 9665 12/02/93 09:28 EST
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Publication:PR Newswire
Date:Dec 2, 1993
Words:277
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