Exhibit 10.2

                               Finder's Agreement

This Finder's Agreement by and between Immtech International Inc. ("Immtech")
and The Gabriele Group, L.L.C. (the "Finder") will become effective on the date
it is executed by both parties (the "Effective Date") and will, subject to
Section 4 below, automatically terminate on the first anniversary of the
Effective Date.

1     The Finder has and will act as Immtech's non-exclusive agent to develop
      and qualify potential business partners and "accredited investors" (within
      the meaning of Rule 501 of Regulation D promulgated under the Securities
      Act of 1933, as amended) ("Qualified Leads") and will, among other things,
      render the following services to Immtech:

      A.    identify and introduce to Immtech Qualified Leads;

      B.    increase awareness of Immtech in the financial markets;

      C.    provide management consulting services, which may include, but are
            not limited to, strategic planning, financial advisory services and
            market analysis; and

      D.    identify Qualified Leads for Immtech's pending $2.5 million Series B
            private placement offering.

2     The Finder will assign, on a non-exclusive basis, James A. Gabriele and
      Allan J. Gabriele, and such other of the Finder's employees as the Finder
      shall deem appropriate, to use their best efforts to effect the purposes
      of this Agreement.

3     Upon the execution of this Agreement, Immtech will pay to the Finder
      40,000 shares of common stock of Immtech, $0.01 par value ("Common Stock")
      and Warrants to purchase 30,000 shares of Common Stock of Immtech
      ("Warrants"). The Warrants shall expire five years from the date of grant,
      have an exercise price of $6.00 per share and shall vest only as follows:

      A.    10,000 shares at the earlier of (i) when the market price of
            Immtech's Common Stock, as reported by Bloomberg L.P., meets or
            exceeds $10 for a period of 20 consecutive trading days or (ii) if
            the valuation of Immtech's Common Stock in a merger or acquisition
            meets or exceeds $10 per share;

      B.    10,000 shares at the earlier of (i) when the market price of
            Immtech's Common Stock, as reported by Bloomberg L.P., meets or
            exceeds $15 for a period of 20 consecutive trading days or (ii) if
            the valuation of Immtech's Common Stock in a merger or acquisition
            meets or exceeds $15 per share; and

      C.    10,000 shares at the earlier of (i) when the market price of
            Immtech's Common Stock, as reported by Bloomberg L.P., meets or
            exceeds $20 for a period of 20 consecutive trading days or (ii) if
            the valuation of Immtech's Common Stock in a merger or acquisition
            meets or exceeds $20 per share.

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The Warrants  shall be subject to adjustment  for stock  splits,  combinations
and the like.

4     Immtech may, in its sole discretion, renew this Agreement for one or more
      successive one-year terms (collectively, the "Terms") upon 30 day's notice
      to the Finder prior to the expiration of the applicable Term. For each
      one-year renewal, Immtech shall pay to the Finder, within 30 days after
      the beginning of each Term, an additional 40,000 shares of Common Stock
      and 30,000 Warrants. The Warrants shall be exercisable for a period of
      five years from the date of grant at an exercise price of $6.00 per share
      and shall vest only as follows:

      A.    10,000 at the earlier of (i) when the market price of Immtech's
            Common Stock, as reported by Bloomberg L.P., meets or exceeds $25
            for a period of 20 consecutive trading days or (ii) if the valuation
            of Immtech Common Stock in a merger or acquisition meets or exceeds
            $25 per share;

      B.    10,000 shares at the earlier of (i) when the marker price of
            Immtech's Common Stock, as reported by Bloomberg L.P., meets or
            exceeds $30 for a period of 20 consecutive trading days or (ii) if
            the valuation of Immtech's Common Stock in a merger or acquisition
            meets or exceeds $30 per share; and

      C.    10,000 shares at the earlier of (i) when the market price of
            Immtech's Common Stock, as reported by Bloomberg L.P., meets or
            exceeds $35 for a period of 20 consecutive trading days or (ii) if
            the valuation of Immtech Common Stock in a merger or acquisition
            meets or exceeds $35 per share.

The Common Stock and Warrants to be issued to the Finder pursuant to this
Section 4 shall be subject to adjustment as provided in Section 3 above.

5     The Finder is acquiring (and will acquire, as the case may be) the Commons
      Stock, the Warrants and the Common Stock underlying the Warrants, if
      exercised, and any Common Stock, Warrants and Common Stock underlying such
      Warrants acquired under Section 4 (collectively, the "Securities") for
      investment for its own account and not with a view to, or for resale in
      connection with, any distribution thereof, and has no present intention of
      selling or distributing any such Securities. The Finder understands that
      the Securities (i) have not been, or will not be when issued, registered
      under the Securities Act of 1933, as amended (the "Securities Act"), or
      any state or foreign securities laws, (ii) are hereby sold pursuant to an
      exemption from the registration provisions of the Securities Act and state
      securities laws, which depend upon, among other things, the
      representations of the Finder as expressed herein, (iii) may not be sold
      or otherwise disposed of unless the Finder delivers an opinion of counsel
      reasonably acceptable to Immtech stating that such sale or disposition is
      in accordance with the Securities Act and related state laws and (iv)
      shall be legended to reflect this Section 5.

6     Confidentiality. Finder agrees to maintain all information pertaining to
      this Agreement in the strictest confidence and not to disclose it, in
      whole or in part or in any manner, to a third party without Immtech's
      prior written consent, and to cause the Finder's principals and employees
      to agree to use their best efforts to provide the described services to
      Immtech.

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7     Indemnification.

      A.    Immtech shall indemnify the Finder from and against any and all
            expenses (including attorneys' fees), judgments, fines, claims,
            causes of action, liabilities and other amounts paid (whether in
            settlement or otherwise actually and reasonably incurred) by the
            Finder in connection with such action, suit or proceeding if (i) the
            Finder was made a party to any action, suit or proceeding by reason
            of the fact that the Finder rendered advice or services pursuant to
            this Agreement, and (ii) the Finder (A) acted in good faith and in a
            manner reasonably believed by the Finder to be in or not opposed to
            the interests of Immtech, (B) did not act negligently with respect
            to the claims in such action, suit or proceeding and (C), with
            respect to any criminal action or proceeding, had no reasonable
            cause to believe his conduct was unlawful.

      B.    The Finder shall indemnify Immtech from and against any and all
            expenses (including attorney's fees), judgments, fines, claims,
            causes of action, liabilities and other amounts paid (whether in
            settlement or otherwise actually and reasonably incurred) by Immtech
            in connection with such action, suit or proceeding if (i) Immtech
            was made a party to any action, suit or proceeding by reason of the
            fact that the Finder rendered advice or services pursuant to this
            Agreement, and (ii) the Finder (A) did not act in good faith and in
            a manner reasonably believed by Immtech to be in or not opposed to
            the interests of Immtech, (B) was negligent with respect to the
            claims in such action, suit or proceeding or (C), with respect to
            any criminal action or proceeding, did not reasonably believe his
            conduct was lawful.

8     It is expressly understood and agreed that this is a consulting agreement
      only and does not constitute an employer-employee relationship.

9     All notices provided by this Agreement shall be in writing and shall be
      given by facsimile transmission, overnight courier, registered mail or
      personal delivery, by one party to the other, addressed to such other
      party at the applicable address set forth below, or to such other address
      as may be given for such purpose by such other party by notice duly given
      hereunder. Notice shall be deemed properly given on the date of the
      delivery.

If to the Finder:                        If to Immtech:
    The Gabriele Group                        Immtech International Inc.
    311 South Wacker Drive, Suite 4550        150 Fairway Drive, Suite 150
    Chicago, IL  60606                        Vernon Hills, IL  60061 USA
    Attn:  James A. Gabriele                  Attn:  T. Stephen Thompson

10    Miscellaneous.

      A.    Waiver. The waiver by Immtech or the Finder of any action, right or
            condition in this Agreement, or of any breach of a provision of this
            Agreement, shall not constitute a waiver of any other occurrences of
            the same event.

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      B.    Entire Agreement; Amendments. This Agreement contains the entire
            agreement between the parties hereto, and supersedes all prior
            agreements, written or oral, with respect to the subject matter
            hereof. Any variation to this Agreement must be made in writing and
            signed by both parties.

      C.    Governing Law. This Agreement shall be construed and interpreted in
            accordance with the laws of the State of New York, without regard to
            its laws regarding conflict of laws other than G.O.L. Section
            5-1401.

      D.    Binding Effect. This Agreement shall bind and inure to the benefit
            of the parties hereto and their respective heirs, executors,
            administrators, successors and assigns.

      E.    Expenses. Each party shall pay and be responsible for the costs and
            expenses, including, without limitation, attorneys' fees, incurred
            by such party in connection with the negotiation, preparation and
            execution of this Agreement and the transactions contemplated
            hereby.

      F.    Assignment. No party hereto may assign any of its rights or delegate
            any of its obligations under this Agreement without the express
            written consent of the other party hereto.

      G.    Counterparts. This Agreement may be executed simultaneously in two
            counterparts, each of which shall be deemed an original, but both of
            which together shall constitute one and the same agreement, binding
            upon both parties hereto, notwithstanding that both parties are not
            signatories to the same counterpart.

      H.    Consent to Arbitration. The parties hereto agree to try to settle
            any disputes, controversies, differences or claims that may arise
            between Immtech and the Finder in respect of this Agreement amicably
            through mutual consultation for a period of at least 1 month.
            Failing such settlement, any such dispute, controversy, difference
            or claim shall be exclusively and finally settled by confidential
            binding arbitration commenced by either party in New York City in
            accordance with the rules of the American Arbitration Association
            then in effect, except as discussed below in the section, "Enforcing
            the Confidentiality Provision." There shall be three arbitrators,
            one selected by the Finder, one selected by Immtech and the third
            selected by the two so selected. The arbitrators shall have no
            authority to amend the terms of this Agreement directly or
            indirectly. Any award of the arbitrators may be entered as a
            judgment in any court having jurisdiction.

      I.    Enforcing the Confidentiality Provision. Nothing in the foregoing
            section, "Consent to Arbitration," will limit the right of Immtech
            to seek injunctive relief from any court of competent jurisdiction
            in order to enforce the confidentiality provision above.

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      J.    Headings. The section headings in this Agreement are for reference
            purposes only and shall not be deemed to be a part of this Agreement
            or to affect the meaning or interpretation of this Agreement.

      K.    Mutual Cancellations and Power. Any time after the six month
            anniversary of that Effective Date, either party may cancel this
            Agreement upon thirty days' advance written notice to the other
            party. In the event this Agreement is cancelled pursuant to this
            subsection 10(K), any payment of Common Stock to the Finder pursuant
            to either Section 3 or Section 4 hereof shall be prorated to the
            last full month of uncompleted service and any unvested Warrants
            hereunder shall be immediately cancelled. The Finder hereby
            authorizes Immtech to cancel any certificate or certificates (or
            portion thereof) representing "unearned Common Stock or Warrants in
            the event of cancellation by either party pursuant to this
            subsection 10(K) and in such event the Finder shall tender to
            Immtech any such certificates and Immtech shall issue to the Finder
            a replacement certificate for any shares not so cancelled.

IN WITNESS THEREOF, each of the parties has caused this Agreement to be executed
on its behalf by a duly authorized signatory as of the date listed below.

The Gabriele Group, L.L.C.                 Immtech International Inc.
Dated as of: 7-31-02                       Dated as of: 7-31-02
             ------------------------                   ------------------------


  /s/ James A. Gabriele                    /s/  T. Stephen Thompson
-------------------------------------      -------------------------------------
  James A. Gabriele                        T. Stephen Thompson
                                           President and Chief Executive Officer

  /s/  Allan J. Gabriele
-------------------------------------
  Allan J. Gabriele