Epitope Inc. has raised $7.3 million through a privateplacement with European institutional investors.

The placement, announced Tuesday, was for 234,100 unitspriced at $31 each. The units consist of 2 shares of Epitopecommon stock (AMEX:EPT) and a warrant to purchase anadditional share at $16 per share.

Epitope stock closed at $16.88, up 25 cents, on Tuesday.

The company will use the funds primarily to fund its oraldiagnostic research and development program. The Beaverton,Ore., company is awaiting Food and Drug Administrationapproval of its first product from that program, OraSure oralspecimen collection device for AIDS screening.

American Equities Overseas Inc. placed the deal.

(c) 1997 American Health Consultants. All rights reserved.