Imutec Corp. of Toronto said Monday that it raised about $4.38 million(U.S. $3.1 million) in a private placement of about 2.3 million specialwarrants.Each special warrant entitles the holder to one share of Imutec(TSE:IUT; NASDAQ: IMUTF) and a warrant to purchase an Imutecshare at $2.25 (Canadian) until Feb. 28, 1995. The special warrants,which will be converted after clearance of a prospectus, sold for $1.90(U.S. $1.35) apiece. First Marathon Securities Ltd. of Toronto handledthe placement.All the special warrants were sold to institutional investors in Ontario,Carolyn Davis, Imutec's vice president, business development, toldBioWorld. After the placement, the company will have about 24.8million shares outstanding and about $10 million (Canadian), whichwill last Imutec nearly two years, she said.The company's lead product, Virulizin, a bovine extract that stimulatesthe human immune system, is in Phase III trials in Canada forpancreatic cancer. A Phase II trial for advanced malignant melanomahas been completed in Mexico. A Phase I/II trial is under way inCanada for Kaposi's sarcoma. Imutec said it plans to expand its trialsinto the U.S. and Europe later this year. Imutec shares on NASDAQclosed Monday at $1.50, up 25 cents. _ Jim Shrine

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